Whether it’s a new program for used car dealers or one they have offered but haven’t advertised, it is possible to lease a used car.
Let’s cut to the chase. You’re in the market for a vehicle. You’re weighing your purchasing options.
You’ve already got a budget in mind. You’re trying to maximize your money; get more bang for your buck. You’ve leased cars before and quite enjoy that new car smell and those new gadgets.
If this sounds like you, then it’s a no-brainer. You should lease a new car. You’re budget-minded so you don’t want to overspend. Having a nice new ride every few years is important to you.
As long as you’re not commuting more than 25 miles to and from work, then it’s a win with leasing a new car.
Well, hold on a minute there, partner. Don’t be so certain. Did you know that you can lease a used car?
Wait. You can Lease a Used Car?
Spoiler Alert: You sure can. Lease a used car that is.
Leasing Options: Is Old or New Right For You?
The pros and cons of leasing a used car parallel purchasing a previously owned one for the most part.
The major difference is that if you buy a used car outright two things happen:
1. Poof! Your monthly car payments disappear.
2. You get to hot step into that dealership’s office like a boss, briefcase in hand. Then proceed to make it rain.
I’m not sure which one is better, but they’re both super awesome.
Leasing a Used Car: It’s Possible, but is it for you?
Much like buying a Used Car, you’ve got to be extra careful when leasing one too.
With a used ride, the manufacturer’s warranty could have run its course. In other words, if something goes out, it’s into your pockets to fix it.
Here’s a hypothetical to drive this thought home:
It’s winter and you live in Michigan. Whoa boy. You’re out and about, rolling in your ride, and the heat’s gone out.
That’s right, there’s no heater in your leased beater. That’s on your dime, bud.
Also, and brace yourself as this one hurts: There is not a new car smell in used cars.
If you just screamed out loud, no worries. That’s a perfectly acceptable response.
Yep, that sweet off-gassing aroma of perceived newness is not going to be there. In fact, if you’re like a buddy of mine, your “new to you” chariot might smell of moldy cigars.
Gut check time: Look yourself in the mirror. Set your jaw and square your shoulders. Take a deep breath. Let it out. That’s it. Now, can you live with a car that doesn’t have Bluetooth? And said the car might smell like a Vegas ashtray circa 1971?
You can lie to me, but you can’t like to yourself.
When looking for your next car, don’t forget that if you’re a “lease type,” used cars are on the menu too. However, just like if you’re considering purchasing a used car, you need to do your due diligence and ask questions when visiting your local used car dealers.