Can You Lease a Used Car?

Finance Paperwork with Glasses

 

Has the time come for you to upgrade your commute from St Louis to Ballwin? If that’s the case, shopping for a used or certified pre-owned model is a great way to upgrade without overspending. While you may be excited to secure a fresh set of wheels, you may not be ready to commit to a long-term car purchase. This may lead you to wonder, “Can you lease a used car?” Used car leasing is offered by many automakers, although it’s not typically well-known! In our guide below, we’ll help you take a deep dive into used car leasing to help you find your dream ride for less.

Used Car Leasing Information

While technically used, CPO cars are held to higher standards and must meet certain requirements to be added to the CPO program. For BMW, the criteria are quite strict, so you know that you’re going to head home to Ladue in an incredible model. To become a BMW CPO model, a vehicle must:

  • Have more than 300 miles but less than 60,000 miles on the odometer
  • Pass a complete CARFAX™ or AutoCheck® review
  • Withstand a detailed 360° inspection
  • Pass a comprehensive road test

So, can you lease a used car from BMW? Yes! In fact, there are a number of automotive companies that offer used car leasing. According to the National Automobile Dealers Association (NADA), these companies include: Acura, Audi, BMW, Chrysler, Dodge, Ferrari, FIAT, Honda, Hyundai, INFINITI, Jeep, Kia, Lexus, Lincoln, Mazda, Mercedes-Benz, MINI, Mitsubishi, Nissan, Porsche, RAM, Toyota, Volkswagen, and Volvo. In order to lease a CPO BMW, you’ll need to work with a certified dealer like BMW of West St Louis!

How Does Used Car Leasing Work?

If you’re familiar with how leasing a new car works, then used car leasing will be a breeze! The difference between the sale price of your car and the estimated lease-end value will determine how much you pay each month for your lease. This offers a great chance to save since used cars depreciate more slowly than new cars! So your used car lease will be much more affordable when compared to leasing a new model. 

Once your lease has run its course, you’ll simply make a trip to our lease return center and drop off your vehicle! Of course, you’ll need to be sure you’ve kept in line with your mileage limits and other agreements, but generally, returning a lease is painless!

Benefits of a Used Car Lease

  • Monthly Payment Amount: As we pointed out above, a used car lease can be incredibly affordable. 
  • Potential for Lease Buyout: If you fall in love with your car during your lease, you have the option to make a budget-friendly buyout once your lease is up!
  • Lower Insurance Rates: Since vehicle value is a strong determining factor in the cost of insurance, covering your used car lease will likely be very affordable.

Rely on BMW of West St Louis for All Things Automotive

Whether you want to lease a pre-owned ride or you’re interested in our incredible lease offers, head to our Manchester dealership to consult with our financiers. In the meantime, feel free to get in touch with us if you have any lingering questions.

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