Can You Lease a Used Car?

Opting for a used car as your next vehicle is a great choice. There are so many high-quality pre-owned vehicles on the market that’ll save you money, too! But when considering your financing options, you might be wondering if you can lease your next pre-owned vehicle .

The short answer is, yes! Leasing isn’t just for brand-new vehicles, and is definitely an option when you’re considering a used vehicle. Although it’s less common, it’s a great choice if you’re looking to save on monthly payments.

But first, you’ll want to do some research on how leasing a used car measures up against buying one. That’s why our team at Winner Chevrolet of Wilmington has put all the details right here for you on leasing a pre-owned vehicle. Let’s start by checking out some pros and cons of leasing your vehicle...

Cons of Leasing a Used Car

When you’re considering leasing a used car , it’s important to look at the vehicle itself and see if it’ll cost you more money in the long run. For example, if the warranty doesn’t cover repairs that the car may need during your lease term, it might be worth buying the vehicle so that your money goes a longer way.

Additionally, the depreciation value might be higher with a pre-owned vehicle, and therefore your monthly payments will be higher. Plus, a vehicle that’s three years old could have twice as many problems as a vehicle that’s one year old, so you have to take into perspective the vehicle’s age and if it’s worth simply buying it out.