Can You Lease a Used Car?

Are you looking for a new vehicle to upgrade your McKinney commute? Buying a used vehicle from Prosper CDJR is an excellent way to get all the features you want and a low monthly payment. However, if you’re not ready to invest in buying a car outright, you may be wondering if you can lease a used car for sale. Many manufacturers offer used car leasing, but it’s not advertised as much as used car leasing. Read below with Prosper Chrysler Dodge Jeep Ram to learn more about used car leasing, or contact our finance team directly to see if one of our used CDJR models is available for lease!

Facts About Used Car Leasing

Leasing a used vehicle is possible in Frisco, but most automotive manufacturers only allow certified pre-owned vehicles to be leased. Certified pre-owned vehicles must meet certain criteria in order to receive the CPO designation, making them a higher-value vehicle than your typical used CDJR model. While CPO models from each manufacturer must meet specific requirements, these are the general certified pre-owned model requirements:

• Must be within 5 years of the current model year
• Must have less than 80,000 miles on the odometer
• Must pass a comprehensive, multi-point inspection
• Must have a clean title and vehicle history

If you want to lease a used vehicle, you will need to visit a franchised dealership like Prosper Chrysler Dodge Jeep Ram. Only franchised dealerships can certify CPO vehicles and lease them to Dallas customers. 

According to the National Automobile Dealers Association (NADA), the list of manufacturers which are said to offer CPO leasing includes 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.

How Does Used Car Leasing Work?

When you lease a used vehicle it follows a similar process to leasing a new vehicle. The main differences will be between the sale price of the vehicle and its estimated end-of-lease value. These two prices will determine the monthly lease payment. 

This poses a benefit for Dallas shoppers though since used cars depreciate at a slower rate than new vehicles. This means the difference between the sale price and the estimated lease-end value will be smaller, making your monthly payments lower. 

Similar to new car leasing, when your lease term ends you will need to return your vehicle to the dealership. There will also be mileage limits you will need to adhere to, along with other items listed in your leasing contract. 

Benefits of a Used Car Lease

• Monthly Payment Amount: As we noted above, you can lease a used car for a lower monthly amount than you would a new car. 

• Potential for Lease Buyout: The estimated value of a used vehicle will be lower at lease-end when compared to a new vehicle, which could make a lease buyout more affordable when you reach the end of your lease term. 

• Lower Insurance Rates: There’s a good chance you can get a lower car insurance rate with a CPO lease, as insurance costs are partially based on the car’s value. 

Contact Us About Used Car Leasing

Leasing a new car is an easy and affordable option for Prosper drivers. Contact our team if you have any questions about used car leasing, or browse our online inventories to find a new-to-you vehicle that will meet your needs. You can also learn how to trade-in your current vehicle with our team! Visit Prosper Chrysler Dodge Jeep Ram today! We look forward to putting you behind the wheel of the perfect CDJR vehicle for you!