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Can You Lease a Used Car?

So, the time has come to get behind the wheel of something new near Philadelphia, Quakertown, and Doylestown. You’re also thinking that going the pre-owned route may be the most economical route.

Can You Lease a Used CarIn many cases, this is going to be true. However, at Fred Beans Auto Loans, we have an even more economical option: why not lease a used car? In doing so, you’ll find that you have a lot of benefits coming your way.

If You Didn’t Know You Could Lease Used…

While leasing has grown to be such a popular option, used leases are still a bit rarer. In fact, that may be why you haven’t heard of it before. Despite this fact, however, you most certainly can lease a used car.

So, how does leasing work in the first place? Well, unlike with purchasing a car, where you’re paying for the full MSRP of the vehicle, a lease only requires you to pay for the value of the depreciation the car undergoes during your lease term.

Like in any lease, you’ll have a few limitations to watch for. Since the car is not yours, you cannot modify it, nor will you be exempt from penalties for excessive wear and tear.

Perhaps the biggest restriction on a lease is the mileage. Over the course of your lease term, you’ll only be allowed to drive a set number of miles.

If these limitations will make little difference to you, then you’ll get to reap the leasing benefits: a short-term commitment with lower payments and no-hassle trade-ins.

Used Leases Are Always High Quality

One of the reservations a driver may have about leasing used is that the car already has a decent number of miles (and years) on it. So, can you really expect the value to hold up in it?

Can You Lease a Used CarSince you’re buying from a reputable dealership that has thoroughly inspected and refurbished the car, like certifying it, the answer is yes. As long as you care for your used lease by providing it with the proper maintenance, there shouldn’t be any problems.

Check These Out Before Leasing

Leasing a used car might be sounding better and better. However, before you go ahead and choose one of your own, be sure to inquire about these two things.

  • The Warranty: You need to know what’s covered in the car before you sign a lease for it.
  • The Vehicle History Report: It’s always a smart idea to get the skinny on how the car fared with its previous owner.

If you’re considering buying vs. leasing a car, take a look at these important questions to ask yourself before making your final decision.

Talk to Our Finance Team to Learn More

Now that you’ve got the facts, you might be thinking it’s time to lease your own used car here in the Philadelphia, Quakertown, and Doylestown areas. Before you do, however, we urge you to ask a few more questions.

The finance team at Fred Beans Auto Loans has all the answers that you’re looking for. Contact them today to learn more about leasing a used car!