Can You Lease a Used Car?

Do you want to elevate your commute around Freehold? If you have a budget to stick to, you can check out our used or certified pre-owned listings where you could potentially save thousands of dollars! However, you may ask yourself, “can you lease a used car?” Used car leasing is offered by quite a few manufacturers, however, it is not well-known by many car buyers. Learn more about used car leasing with the experts at Honda Universe in Lakewood. For more information about used car leasing, feel free to contact us anytime!

Facts About Used Car Leasing

In most cases, manufacturers typically only provide used car leasing if it’s certified pre-owned. On average, cars that are less than 4 model years old and less than 48,000 miles qualify for lease. Therefore, if you’re looking to lease a certified used vehicle, you have to visit a franchised dealership such as Honda Universe. It is typically the case that only franchised dealerships offer certified used car leasing.

According to the esteemed National Automobile Dealers Association (NADA), the manufacturers offering certified pre-owned used car leasing are 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.

Used Car Leasing: How Does It Work?

If you’re interested in certified pre-owned used car leasing, the process is quite similar to leasing a new car. Therefore, the estimated value of the vehicle at the end of the lease is used to calculate the monthly payment.

This is advantageous to those looking to lease a used car in Toms River, as a used car experiences a lower appreciation rate than a new car. Therefore, the difference between the current price and lease end price will be less, lowering the monthly payment.

Similar to leasing a new car, you return the vehicle to the dealership when your certified pre-owned lease comes to an end. Keep in mind that you will have mileage limits, just like a new lease.

Used Car Lease Advantages

• Monthly Payment Amount: As previously mentioned, used car leasing offers a lower monthly payment, as the change in value at the end of the lease won’t be as dramatic.

• Potential for Lease Buyout: Because the estimated value at the end of your used car lease will be less than leasing a new vehicle, it would be easier to buy out at the end of the lease. 

• Lower Insurance Rates: On average, used cars cost less to insure than a new car. This is because some of the insurance cost is based on the vehicle’s value.

Visit Us At Honda Universe For Used Car Leasing

So, can you lease a used car? Yes! You certainly can lease a used car, and it will save you money. Come stop by and see us at Honda Universe in Lakewood, and check out our certified pre-owned inventory. Stop by our finance department to start the used car leasing process!