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As a rule, used cars available for lease from dealerships will be certified pre-owned (CPO) vehicles that are less than 4 years old and with fewer than 48,000 miles on the odometer. Shoppers who lease used are able to buy out the vehicle at the end of the lease, just as they can with new autos.
Because there's less depreciation with a pre-owned vehicle, you can expect used-car leases to require less due at signing, have lower monthly payments, or both. You Can Get a Better Car: Leasing a used car can also allow you to get your dream car. Most used vehicles available for leasing are certified pre-owned cars.
The Benefits of Leasing a Car lease usually offers lower monthly payments than if you were buying the car. Additionally, you will need to have a down payment for your lease every few years, and you won't have any trade-in value if you're getting out of one lease and into another.
As a rule, used cars available for lease from dealerships will be certified pre-owned (CPO) vehicles that are less than 4 years old and with fewer than 48,000 miles on the odometer. Shoppers who lease used are able to buy out the vehicle at the end of the lease, just as they can with new autos.
In terms of out-of-pocket spending, leasing costs $3,418 less over six years than buying a new car, excluding any repair costs the new car might incur. The out-of-pocket cost of buying a used car is $5,224 cheaper than leasing and $8,642 cheaper than buying a new car. We have excluded any repair costs for the used car.
Is leasing a car a waste of money? Your monthly payment: Leasing a car usually has a lower monthly payment compared to financing a car if the loan terms are same. With a lease, you are only paying for the depreciation of the car during those years. You'll pay less for the sales tax on a lease as well.
L/CERTIFIED LEASING Lexus Financial Services offers compelling leasing terms for L/Certified vehicles, ranging from 24- to 48-month terms, depending upon the age of the vehicle. Current-year through four-year-old pre-owned vehicles are eligible under this program.
The Lexus certified pre-owned (CPO) warranty offers limited bumper-to-bumper coverage for 6 years and an unlimited mileage period starting from the vehicle's original purchase date. Roadside assistance, 2-years or 20,000 free scheduled maintenance and a complimentary loaner car are also included.
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