Can You Lease A Used Car?

Signing Finance Documents for Car
 

Princeton drivers who are looking to upgrade their vehicle for their commute or weekend adventures probably know that there are a lot of benefits to buying a used vehicle. Not only do you get exceptional savings, but you can also get extended warranties, have access to critic and customer reviews, and much more! Occasionally West Windsor drivers may wonder if they can lease a used car. While used car leasing is advertised by many manufacturers, typically they only allow leasing on their certified pre-owned inventory. Learn more about used car leasing below, and how to find out if your local dealership offers it. 

 

Used Car Leasing Information

Typically, Edison dealerships will only allow used car leasing on their certified pre-owned inventory. Franklin Township vehicles must pass a rigorous inspection and meet certain criteria in order to be given the CPO designation. You can see the certified pre-owned criteria for Jaguar models below:

  • Must pass a 165-point inspection
  • Must be 5 years old or newer
  • Vehicles must have less than 60,000 miles

While the requirements for each manufacturer is different, drivers who buy certified pre-owned models can expect similar requirements for each brand. It’s important to note though that certified pre-owned vehicles can only be purchased at franchised dealerships like Jaguar Princeton. If you’re looking for used car leasing, you’ll need to visit a local franchised dealership to find the certified pre-owned model that fits your needs. 

How Do You Lease A Used Car?

Certified used car leasing works similarly to the new car leasing process. You’ll select a vehicle and begin to negotiate on price and leasing terms with the dealer. The biggest difference will be between the sale price of the vehicle and its estimated value at the end of the lease. This will determine your monthly lease payment. 

This is a benefit for West Windsor shoppers though, as used cars depreciate more slowly than new cars. This means that the difference between the sales price and estimated lease-end value will be smaller, making your monthly payments lower. 

Just like with new car leasing, when your used car lease ends you’ll need to return the vehicle to the dealership. There will be an inspection and you’ll need to pay off any fees (if you’ve incurred any). During your lease, you’ll also be subjected to mileage limits and other lease limits – just as if you leased a new vehicle. 

Perks Of Leasing A Used Car

When you lease a used car, you have a lot of benefits available to you, including lower payments and a reliable vehicle. See the perks of leasing a used car below:

  • Monthly Payment Amount: Used cars can be leased for a lower monthly payment amount than a new car. 
  • Potential for Lease Buyout: The estimated vehicle value will be lower at the end of your lease, meaning it will be more affordable if you decide to buy-out the vehicle. 
  • Lower Insurance Rates: If you lease a used vehicle, there’s a good change you can get a lower car insurance rate since insurance costs are partially based on a car’s value. 

Contact Our Financing Team

If you’re interested in leasing a certified used car from Jaguar Princeton, contact our finance center to learn more about our used car leasing process. We can help you find the right certified pre-owned Jaguar for your needs and set you up with a plan that will fit your budget. Get in touch today! We look forward to hearing from you!

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