Can You Lease a Used Car?

Used car leasing is not unheard of, but it is uncommon. Can you lease a used car at BMW of Turnersville? While BMW does allow us to offer leases on select used cars—and generally only on certified pre-owned models—it depends. If you see a pre-owned vehicle that you’d like to lease, call us at (856) 290-8178 to learn more about your options.

Used Car Leasing Explained

In general, leases are only available for new models. In select cases, nearly-new models that have been certified by the manufacturer may also be available to lease. In other words, drivers who are interested in leasing a used car should seek out an authorized dealership—like BMW of Turnersville—that offers certified pre-owned models.

The actual process of leasing a used car is similar to the process involved in leasing any vehicle. Your monthly payment will be based on the model’s expected depreciation over the leasing term, plus interest, divided by the number of months in your contract. Since used vehicles don’t depreciate as quickly as new cars, leasing a used car is often very affordable. Trading in an older vehicle can help your money go even further.

When your used car lease is up, you’ll return the vehicle to the dealership. As with any lease, you can generally choose to return the vehicle and pick out a new one or buy the model outright. Lease extensions for used cars may or may not be available, depending on the situation.

Is Leasing a Used Car the Right Move?

Leasing a used car may be the right move, but it depends on your needs. In the first place, it’s worth noting that used cars are more likely to require repairs than new models. Moreover, although CPO vehicles generally come backed by warranty coverage, the repairs that your vehicle needs are less likely to be warrantable as time goes on and your coverage expires. In other words, drivers who lease used cars may find that they need to pay for repairs on models that they technically don’t own—and that’s an experience that most Sewell and Williamstown shoppers would prefer to avoid.

On the other hand, choosing a used car lease could help you access a lower monthly payment, as well as lower insurance payments—compared to those who buy or lease brand new models. If you have questions, you can speak with a member of our financing team at any time.

We’re Here to Help with Anything You Need!

Here at BMW of Turnersville, we want to be a resource for drivers from all over Turnersville and Philadelphia. Take advantage of our other car buying tips if you’d like to continue your research from home, or start exploring our certified pre-owned inventory today!