Can You Lease a Used Car?
So, you’re looking for your next car. You’ve browsed new ones and debated between buying or leasing. You’ve considered used ones. Then a new thought pops into your head. Can you lease a used car?
It’s a question a lot of people looking for their next vehicle wouldn’t even think of. Braman Honda of Palm Beach looks at that so drivers in Wellington and Greenacres can get familiar with all their options.
Leasing A Used Car
The simple answer is yes, you can lease a used car. You don’t hear about it as often as leasing new or buying used, but it is definitely possible to lease a used car. Not only that, but there are actually some big advantages to leasing used.
Benefits of Leasing
The great things about leasing is that it gives you the chance to get behind the wheel of the car you want, while saving money and avoiding a long-term commitment.
With leasing, you’ll only be paying off the car for the set lease term, usually two to three years, rather than making financing payments for a long time like you’d be if you’d decided to buy. Because it’s not a long commitment, there’s sometimes no down payment needed to lease a car.
That’s just two ways you’ll save money by leasing. When you lease a used car, your payments should be even less.
Your monthly payment amount is set up to match what it’s estimated the car will be worth at the end of the lease term. This is its residual value.
Since a car is worth less as it gets older and puts on more miles, the residual value of a used car is going to be less than one that you’d lease new. So, you’ll end up with a lower monthly rate when you lease a used car than if you had decided to lease a new one.
On top of the financial benefits, you’ll also get some variety. By only having the car for a set number of months, you can change things up at the end. Switch from a sedan to an SUV or a pickup to a sporty compact. Without a long-term commitment you’ll get to try lots of quality used cars for less.
We are happy to help you get behind the wheel of whatever used car, truck, or SUV you’ve got your eye on. The experts in our financial department aim to make the process of driving off in your next ride as easy and transparent as possible.
Our professional staff will put their expert knowledge to work for you and get you great options. You can even explore some of their tools online, like applying for financing or getting an estimate on the value of your car if you’re thinking of trading in.
Stop by Sometime
Whatever method, make, or model you’re interested in our expertly trained financing professionals can help you drive home in the used car that’s right for you. We are proud offer great customer service to drivers in Wellington and Greenacres.
To learn more about how you can lease a used car, stop in to Braman Honda of Palm Beach.