Can You Lease a Used Car?

Can you lease a used car? Maybe you’ve come to the conclusion that you can save money by leasing a car instead of buying one. But will leasing a used car instead of a new one save you even more money? Is it even possible? It’s possible, but used car leasing does have its downsides. Our finance department wants you to be fully informed so that you can make the best decisions around leasing the next vehicle for your Winston-Salem commute. So, let’s talk about whether leasing a used car is right for you.

The Pros of Used Car Leasing

Can you lease a used car from the same lenders who will back a new car lease? It can be pretty difficult to find a lender who is willing to fund a used car lease. It presents more of a financial risk to the lender than leasing a new car. But if you can find a used car for lease, here are possible benefits for High Point drivers:

• The lease will most likely be for a certified pre-owned vehicle.
• Odds are that you will have lower payments than if you were to lease a new car, but not always.
• Depreciation is less of a factor when leasing a used car. And that depreciation is reflected in your down payment, or what you owe at the end of the lease.

The Cons of Used Car Leasing

So, can you lease a used car? It’s possible. But, should you? There are significant disadvantages to leasing a used car. Here are just a few of the reasons many Kernersville customers have decided against leasing a used car:

• Used cars incur more repairs than new cars.
• A used car is often not under warranty unless it is certified pre-owned.
• You may not even get better terms on your used car lease than you would if you leased a new car. Be sure to read the lease agreement closely.

Check Out the Lease Deals at Modern Nissan of Winston Salem

There’s really no need to lease a used car when you can take advantage of our generous lease deals. So talk to our finance department about your lease options. If you’d like to learn more, check out our other tips and advice. We’re just down the road from Thomasville. So, drop by or contact us today!