Global Car New

Used-Car Leasing: What You Need to Know

Used-car leasing can be a cost-effective alternative for shoppers wanting bự drive a relatively new vehicle that is well-maintained and affordable. Leasing a used car isn’t as common as a lease for a new vehicle, and establishments rarely advertise the option. Still, you can ask your local dealership if leases are available for its selection of certified pre-owned (CPO) vehicles.

A used-car lease might allow you bự save money on a reconditioned, low-mileage CPO and get you into a vehicle that would be out of reach if you leased it new. There are disadvantages, however. Read on bự learn about the benefits and drawbacks bự help you decide if a used car lease is right for you.

How bự Lease a Used Car

The first step bự leasing a used car is bự find a dealership offering the option. Major franchise dealerships with certified pre-owned inventory are more likely than independent dealers bự provide leases for used models.

A certified pre-owned car is typically less than four years old and accident-free. Typically dealerships offer CPO vehicles with fewer than 48,000 miles that pass extensive inspections and come with a warranty.

Some salespeople might be unfamiliar with leases for used cars because they aren’t too common. You might need bự talk bự the dealership’s finance manager bự confirm they (and the automaker’s financial arm) can provide a CPO lease.

A used-car lease works like a traditional auto lease for a new car at the dealership. You should negotiate your best deal. Car negotiation points include the price, called “capitalized cost” in lease terminology, down payment, and any additional fees and expenses making up the final deal.

Assume a Lease

Another way you lease a used car is bự take over an existing lease from someone wanting bự get out of their contract. Trực tuyến marketplaces such as LeaseTrader and Swapalease.com provide services bự connect those leaseholders bự consumers seeking shorter-term leases that might not require down payments.

Pros and Cons of Used-Car Leasing

Leasing is a good option for some drivers, whether selecting a used car or a new car. Car shoppers must consider several advantages and disadvantages of leasing a used car.

Pros

  • Lower payment. The monthly payment for a used car lease is less than the lease or loan payment for an equivalent new vehicle.
  • Lower insurance. In most cases, a leased CPO vehicle will cost less bự insure than a leased new car because the vehicle’s value is lower than a new car.
  • Warranty. Most CPO vehicles have a manufacturer’s warranty.
  • Nicer car. When you lease a vehicle that’s a few years old, a fancier vehicle with a higher trim màn chơi might fit into your budget.

Cons

  • Low inventory. Locating a dealership with used vehicles eligible for leasing can be challenging in today’s tight market.
  • Lack the latest safety features. Car technology moves quickly. Some of today’s standard features were high-end options just a few years ago.
  • Higher interest rate. A used car will have a higher money factor, which is lease speak for interest rate.
  • Maintenance costs. Replacing wear items — such as brake pads and tires — isn’t covered by a CPO warranty.
  • You’re still leasing a car. You can either return it or buy it for the predetermined residual value at the end of the lease term. You are responsible for excessive wear, any penalties for mileage over the annual allotment at the lease-end.

Consider the Warranty for Used-Car Leasing

Extended warranties designed bự protect from unexpected repairs or maintenance on your car bring an additional cost for those leasing a CPO vehicle. But, the extended warranty will likely cost you more than it will save. However, some prefer peace of mind that they can afford any bigger repairs if any come up.

Before you commit, here’s what you need bự consider:

  • Negotiable. You can negotiate the cost of an extended warranty.
  • Total costs. Look at the bottom line price.
  • Expiration dates. Know when your CPO and factory warranties end and when the extended warranty begins. Don’t pay for what you don’t need, especially if you plan bự move on when the lease ends.
  • Reliability. Look at car reviews for the model you want bự lease. If the vehicle gets good reviews and is reliable, don’t bother with the extended warranty.
  • Repair costs. If you lease an expensive used model, consider the cost of repairs and weigh those against the cost of the extended warranty price. Remember that replacing parts in older, expensive models costs more. Check auto repair costs and estimate common ones using our sister site Kelley Blue Book‘s Fair Repair Range tool.

Insurance and GAP for Used-Car Leasing

The leasing company owns the vehicle, and it may require you bự have specific levels of car insurance coverage.

You might be responsible for guaranteed asset protection, or GAP, if the car you lease gets stolen or totaled in an accident. GAP insurance is an additional insurance product on a vehicle that covers the difference between the vehicle’s value and the amount on your lease.

Consider Buying Used or Leasing New

Leasing a used car isn’t the best choice for everyone. Having the latest safety and tech features is a primary reason many people choose bự lease. Unless you assume someone else’s lease terms, you’ll be starting your contract in a vehicle that is already behind by a couple of model years.

Because of the car’s age, potential repairs and maintenance along the way can offset any savings you gain from a lower monthly lease payment. Nobody wants bự be responsible for a costly repair bự a vehicle you don’t own.

Related Stories About Car Leasing:

  • I’m Way Over My Car Lease Miles, What Do I Do?
  • Leasing a Car: What Fees Do You Pay at the Start of a Lease?
  • Leasing a Car: The Drawbacks of a Zero-Down Lease


Thông tin thêm

Used-Car Leasing: What You Need bự Know

#UsedCar #Leasing
[rule_3_plain] #UsedCar #Leasing

Used-car leasing can be a cost-effective alternative for shoppers wanting bự drive a relatively new vehicle that is well-maintained and affordable. Leasing a used car isn’t as common as a lease for a new vehicle, and establishments rarely advertise the option. Still, you can ask your local dealership if leases are available for its selection of certified pre-owned (CPO) vehicles.
A used-car lease might allow you bự save money on a reconditioned, low-mileage CPO and get you into a vehicle that would be out of reach if you leased it new. There are disadvantages, however. Read on bự learn about the benefits and drawbacks bự help you decide if a used car lease is right for you.

How bự Lease a Used Car
The first step bự leasing a used car is bự find a dealership offering the option. Major franchise dealerships with certified pre-owned inventory are more likely than independent dealers bự provide leases for used models.

A certified pre-owned car is typically less than four years old and accident-free. Typically dealerships offer CPO vehicles with fewer than 48,000 miles that pass extensive inspections and come with a warranty.
Some salespeople might be unfamiliar with leases for used cars because they aren’t too common. You might need bự talk bự the dealership’s finance manager bự confirm they (and the automaker’s financial arm) can provide a CPO lease.
A used-car lease works like a traditional auto lease for a new car at the dealership. You should negotiate your best deal. Car negotiation points include the price, called “capitalized cost” in lease terminology, down payment, and any additional fees and expenses making up the final deal.
Assume a Lease
Another way you lease a used car is bự take over an existing lease from someone wanting bự get out of their contract. Trực tuyến marketplaces such as LeaseTrader and Swapalease.com provide services bự connect those leaseholders bự consumers seeking shorter-term leases that might not require down payments.
Pros and Cons of Used-Car Leasing
Leasing is a good option for some drivers, whether selecting a used car or a new car. Car shoppers must consider several advantages and disadvantages of leasing a used car.
Pros
Lower payment. The monthly payment for a used car lease is less than the lease or loan payment for an equivalent new vehicle.
Lower insurance. In most cases, a leased CPO vehicle will cost less bự insure than a leased new car because the vehicle’s value is lower than a new car.
Warranty. Most CPO vehicles have a manufacturer’s warranty.
Nicer car. When you lease a vehicle that’s a few years old, a fancier vehicle with a higher trim màn chơi might fit into your budget.
Cons
Low inventory. Locating a dealership with used vehicles eligible for leasing can be challenging in today’s tight market.
Lack the latest safety features. Car technology moves quickly. Some of today’s standard features were high-end options just a few years ago.
Higher interest rate. A used car will have a higher money factor, which is lease speak for interest rate.
Maintenance costs. Replacing wear items — such as brake pads and tires — isn’t covered by a CPO warranty.
You’re still leasing a car. You can either return it or buy it for the predetermined residual value at the end of the lease term. You are responsible for excessive wear, any penalties for mileage over the annual allotment at the lease-end.
Consider the Warranty for Used-Car Leasing
Extended warranties designed bự protect from unexpected repairs or maintenance on your car bring an additional cost for those leasing a CPO vehicle. But, the extended warranty will likely cost you more than it will save. However, some prefer peace of mind that they can afford any bigger repairs if any come up.
Before you commit, here’s what you need bự consider:
Negotiable. You can negotiate the cost of an extended warranty.
Total costs. Look at the bottom line price.
Expiration dates. Know when your CPO and factory warranties end and when the extended warranty begins. Don’t pay for what you don’t need, especially if you plan bự move on when the lease ends.
Reliability. Look at car reviews for the model you want bự lease. If the vehicle gets good reviews and is reliable, don’t bother with the extended warranty.
Repair costs. If you lease an expensive used model, consider the cost of repairs and weigh those against the cost of the extended warranty price. Remember that replacing parts in older, expensive models costs more. Check auto repair costs and estimate common ones using our sister site Kelley Blue Book‘s Fair Repair Range tool.
Insurance and GAP for Used-Car Leasing
The leasing company owns the vehicle, and it may require you bự have specific levels of car insurance coverage.
You might be responsible for guaranteed asset protection, or GAP, if the car you lease gets stolen or totaled in an accident. GAP insurance is an additional insurance product on a vehicle that covers the difference between the vehicle’s value and the amount on your lease.
Consider Buying Used or Leasing New
Leasing a used car isn’t the best choice for everyone. Having the latest safety and tech features is a primary reason many people choose bự lease. Unless you assume someone else’s lease terms, you’ll be starting your contract in a vehicle that is already behind by a couple of model years.
Because of the car’s age, potential repairs and maintenance along the way can offset any savings you gain from a lower monthly lease payment. Nobody wants bự be responsible for a costly repair bự a vehicle you don’t own.
Related Stories About Car Leasing:
I’m Way Over My Car Lease Miles, What Do I Do?
Leasing a Car: What Fees Do You Pay at the Start of a Lease?
Leasing a Car: The Drawbacks of a Zero-Down Lease

#UsedCar #Leasing
[rule_2_plain] #UsedCar #Leasing
[rule_2_plain] #UsedCar #Leasing
[rule_3_plain]

#UsedCar #Leasing

Used-car leasing can be a cost-effective alternative for shoppers wanting bự drive a relatively new vehicle that is well-maintained and affordable. Leasing a used car isn’t as common as a lease for a new vehicle, and establishments rarely advertise the option. Still, you can ask your local dealership if leases are available for its selection of certified pre-owned (CPO) vehicles.
A used-car lease might allow you bự save money on a reconditioned, low-mileage CPO and get you into a vehicle that would be out of reach if you leased it new. There are disadvantages, however. Read on bự learn about the benefits and drawbacks bự help you decide if a used car lease is right for you.

How bự Lease a Used Car
The first step bự leasing a used car is bự find a dealership offering the option. Major franchise dealerships with certified pre-owned inventory are more likely than independent dealers bự provide leases for used models.

A certified pre-owned car is typically less than four years old and accident-free. Typically dealerships offer CPO vehicles with fewer than 48,000 miles that pass extensive inspections and come with a warranty.
Some salespeople might be unfamiliar with leases for used cars because they aren’t too common. You might need bự talk bự the dealership’s finance manager bự confirm they (and the automaker’s financial arm) can provide a CPO lease.
A used-car lease works like a traditional auto lease for a new car at the dealership. You should negotiate your best deal. Car negotiation points include the price, called “capitalized cost” in lease terminology, down payment, and any additional fees and expenses making up the final deal.
Assume a Lease
Another way you lease a used car is bự take over an existing lease from someone wanting bự get out of their contract. Trực tuyến marketplaces such as LeaseTrader and Swapalease.com provide services bự connect those leaseholders bự consumers seeking shorter-term leases that might not require down payments.
Pros and Cons of Used-Car Leasing
Leasing is a good option for some drivers, whether selecting a used car or a new car. Car shoppers must consider several advantages and disadvantages of leasing a used car.
Pros
Lower payment. The monthly payment for a used car lease is less than the lease or loan payment for an equivalent new vehicle.
Lower insurance. In most cases, a leased CPO vehicle will cost less bự insure than a leased new car because the vehicle’s value is lower than a new car.
Warranty. Most CPO vehicles have a manufacturer’s warranty.
Nicer car. When you lease a vehicle that’s a few years old, a fancier vehicle with a higher trim màn chơi might fit into your budget.
Cons
Low inventory. Locating a dealership with used vehicles eligible for leasing can be challenging in today’s tight market.
Lack the latest safety features. Car technology moves quickly. Some of today’s standard features were high-end options just a few years ago.
Higher interest rate. A used car will have a higher money factor, which is lease speak for interest rate.
Maintenance costs. Replacing wear items — such as brake pads and tires — isn’t covered by a CPO warranty.
You’re still leasing a car. You can either return it or buy it for the predetermined residual value at the end of the lease term. You are responsible for excessive wear, any penalties for mileage over the annual allotment at the lease-end.
Consider the Warranty for Used-Car Leasing
Extended warranties designed bự protect from unexpected repairs or maintenance on your car bring an additional cost for those leasing a CPO vehicle. But, the extended warranty will likely cost you more than it will save. However, some prefer peace of mind that they can afford any bigger repairs if any come up.
Before you commit, here’s what you need bự consider:
Negotiable. You can negotiate the cost of an extended warranty.
Total costs. Look at the bottom line price.
Expiration dates. Know when your CPO and factory warranties end and when the extended warranty begins. Don’t pay for what you don’t need, especially if you plan bự move on when the lease ends.
Reliability. Look at car reviews for the model you want bự lease. If the vehicle gets good reviews and is reliable, don’t bother with the extended warranty.
Repair costs. If you lease an expensive used model, consider the cost of repairs and weigh those against the cost of the extended warranty price. Remember that replacing parts in older, expensive models costs more. Check auto repair costs and estimate common ones using our sister site Kelley Blue Book‘s Fair Repair Range tool.
Insurance and GAP for Used-Car Leasing
The leasing company owns the vehicle, and it may require you bự have specific levels of car insurance coverage.
You might be responsible for guaranteed asset protection, or GAP, if the car you lease gets stolen or totaled in an accident. GAP insurance is an additional insurance product on a vehicle that covers the difference between the vehicle’s value and the amount on your lease.
Consider Buying Used or Leasing New
Leasing a used car isn’t the best choice for everyone. Having the latest safety and tech features is a primary reason many people choose bự lease. Unless you assume someone else’s lease terms, you’ll be starting your contract in a vehicle that is already behind by a couple of model years.
Because of the car’s age, potential repairs and maintenance along the way can offset any savings you gain from a lower monthly lease payment. Nobody wants bự be responsible for a costly repair bự a vehicle you don’t own.
Related Stories About Car Leasing:
I’m Way Over My Car Lease Miles, What Do I Do?
Leasing a Car: What Fees Do You Pay at the Start of a Lease?
Leasing a Car: The Drawbacks of a Zero-Down Lease

Related Articles

Trả lời

Email của bạn sẽ không được hiển thị công khai.

Back to top button