Can You Lease A New Car?

If you’re looking to lease your next ride in the Los Angeles but you want to save some money, you may be asking yourself: can you lease a used car? The answer is yes! At New Century BMW, we offer a wide variety of certified pre-owned BMW vehicles for lease. Used car leasing typically isn’t advertised as widely as new car leasing, but it’s absolutely possible and we’re happy to help you through every step of the process! Read on for some details about used car leasing, and feel free to contact our office with any questions.

Used Car Leasing Facts

Most automakers only allow their certified pre-owned vehicles to be leased out. This is because CPO vehicles have to pass stringent requirements for age, mileage, and condition, and are backed by comprehensive powertrain and limited warranties. BMW certified pre-owned vehicles must have less than 60,000 miles on the odometer, and the CPO Limited Warranty covers one year or unlimited miles.

According to the National Automobile Dealers Association (NADA), the full list of manufacturers offering CPO leases 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 in the Arcadia area, it’s the same as leasing a new vehicle. You’ll make monthly payments based on the vehicle MSRP and the estimated value at lease-end. Since used cars depreciate more slowly than new cars–as well as having lower starting prices–this means that it’s a lot more cost-effective to lease a CPO vehicle. Leasing a used car comes with largely the same restrictions as leasing a new car, meaning you have to stay within certain mileage limits and follow guidelines for customization and accessorizing. When the lease is up, you can either return it to the dealership, upgrade to a new lease, or buy the vehicle outright.

Benefits of a Used Car Lease

• Monthly payments: As we discussed above, the largest benefit that comes with leasing a used car is much lower monthly payments than leasing a new car.
• Potential for lease buyout: Since the estimated value of a used car is lower than a new car, you can potentially buy it outright for a lower price tag when your lease term is up.
• Lower insurance rate: Insurance costs are partially based on the car’s value, and since used cars are lower in value than new cars, you probably won’t have to pay as much for insurance.

Learn More About Used Car Leasing with New Century BMW

If you have any questions about the process of leasing a used car, don’t hesitate to reach out! You can also stop by our dealership to talk to a member of our team in person–we’re conveniently located near Pasadena. And be sure to check out our car buying tips for more information to help you as you shop for your next ride!