Used car leasing companies are starting to become a widely growing industry all across the US for many reasons. They’re a great way to get a luxury vehicle, newer car, or more without having to shell out loads of cash for years to come.
But while it’s becoming a popular thing to do, it doesn’t mean that signing on the dotted line for your pre-owned leased car doesn’t have its own set of risks. Your friends at Drivrz Financial want you to be able to understand everything you can about leasing pre-owned so that you’re able to make the smartest decision possible.
This is why today, we’ve put together our list of the things you need to know about leasing a used car!
You’ll Have Lower Monthly Payments Than A New Car Lease.
Leasing a pre-owned vehicle does mean that in many cases, you’re able to get a luxury vehicle you wouldn’t otherwise be able to afford if you were buying brand new. This is because your payments on the used car lease are lower. And they’re lower for a big reason. When you lease a new vehicle, most of your monthly payments go to the vehicle’s expected depreciation, but the car depreciates less every month with a used car lease. That slower depreciation means lower monthly payments for you!
Be Sure That You Take the Time to Shop Around.
Not doing so will be the death of your used car search for sure. There are not as many used car leasing companies out there as there are new car dealerships, making the market for a luxury certified pre-owned lease car far less. So, if you’re trying to lease a luxury car, an SUV, or something else, take the time to do your research.
With used car leasing companies like your friends at Drivrz Financial, you’ll be able to find a wide selection of top brand used vehicles available for lease.
You May Not Find A Vehicle That’s Under Warranty.
Just because a used car is still certified pre-owned does not mean that it comes with any form of warranty when you lease it. In many cases, the manufacturer’s warranty has already expired or will before your used car lease term ends.
You Won’t Own the Used Lease Car When You’re Done Paying.
Just like leasing a new car off the dealership lot, when you lease a pre-owned vehicle, you won’t own it when you’re done making the payments. Some lease deals will allow you to purchase the car after your term ends, but if it doesn’t, you’ll be responsible for any wear and tear on the vehicle. Be sure that you keep your used lease car in the best shape possible.
A Used Car Lease May Still Not Be the Right Choice for You.
If you’re more excited about leasing a new car off the lot with all the bells and whistles and technology, then a used car lease may not be the right choice for you. The same goes if you don’t want to be responsible for repairs after the manufacturer’s or other warranties run out during your lease.
Whatever you’re considering, your friends at Drivrz Financial have the experience and know-how to help you understand your used car leasing options and make the right choice! Call us today to find out how our used car leasing specialist can simplify the way you find your perfect car!