Can You Lease a Used Car?

For those in McComb looking to upgrade their ride without the commitment of purchasing, the question arises: “Can you lease a used car?” Though less well-known than new car leasing, this option is indeed available and offers a practical solution for budget-conscious shoppers. At Mike Whatley Honda, we’re committed to providing you with all the information you need about used car leasing in Brookhaven.

Used Car Leasing Facts: Can I Lease a Used Car?

“Can I lease a used car?” is a query we often hear from customers. The answer is yes, especially regarding certified pre-owned (CPO) vehicles. Manufacturers typically allow leasing CPO vehicles under four model years old and under 48,000 miles. This makes franchised dealerships like Mike Whatley Honda ideal places to explore used car leasing options.

How Does Used Car Leasing Work?

The process of used car leasing is similar to that of new car leasing. If you’re in Hammond and asking, “Can I lease a used car?”, know that the monthly payments are calculated by the difference between the car’s sale price and its estimated value at the end of the lease. This often results in more affordable monthly payments, as used vehicles depreciate less rapidly than new cars.

Advantages of Choosing a Used Car Lease

• Cost-Effective Monthly Payments: One of the most attractive aspects of used car leasing is the potential for significantly lower monthly payments than new car leases.
• Feasibility of Lease Buyout: The end-of-lease value of a used car is typically lower, making the buyout option more accessible for those considering a lease buyout after their term.
• Lower Insurance Rates: Insurance rates for leased used vehicles tend to be lower as they correlate with the car’s depreciated value. This is crucial for those weighing the pros and cons of used car leasing.

Ready to Explore Your Used Car Leasing Options?

Still wondering, “Can you lease a used car?” or have other inquiries about used car leasing? Our finance team at Mike Whatley Honda, serving the greater Prentiss area, is ready to provide you with all the information and assistance you need. Contact our dealership in Brookhaven to explore your options and discover how used car leasing can be tailored to your unique situation.