4 Reasons to Consider Leasing a Pre-Owned Car

Hand holding car keys against a black background

Image via Flickr by AndYaDontStop

If you’re thinking about leasing your next car, you can take advantage of a number of appealing benefits. Leasing a vehicle makes it easier to get behind the wheel without the high cost of purchasing. However, what you may not realize is that you can lease a pre-owned car to save even more and find the vehicle that works best for your needs.

  1. Save Money

One of the main reasons you might consider leasing a pre-owned car rather than a brand-new model is to save money. When you lease a car, you’re responsible for the amount of expected depreciation during the term of the agreement, along with some fees and interest on the vehicle. A new car depreciates rapidly within its first few years, but the depreciation slows down during the car’s middle age. Therefore, leasing a car that has some miles on it and another owner or two will help reduce the depreciation hit that’s placed on your shoulders.

The fees associated with a lease on a pre-owned car, as well as the monthly payment, will be lower than what you’d pay for the newest model. Additionally, the down payment required at the time you sign the agreement will be less. With a little more money to work within your budget, you might be able to choose a nicer car or one with more safety and convenience features that you want.

  1. Lease-End Purchase

At the end of a lease term, you have the option to either return the car or purchase it at a lower rate, called the buyout price. When the lease term ends on a pre-owned vehicle, the buyout price will be more affordable than the price of a brand-new model.

Since you’ve been driving the car, you’ll also know what to expect in terms of service and repair needs and any potential problems. You’ll also have an idea of how many miles you’ve driven on highways versus city roads. If you don’t want to keep the car, you can simply return it under the terms of the lease, rather than having to sell or trade in a used car.

  1. Lower Insurance Costs

In most cases, the cost to insure a pre-owned car is lower than the cost to insure a new vehicle. Insurance is based on the value of the vehicle or what the insurance company would have to pay to replace it. You can save on insurance or get a policy with more extensive coverage without having to spend a fortune.

  1. Better Condition

Another advantage of leasing a pre-owned car rather than shopping for one on your own is that a leased vehicle is usually in better condition. Leased cars generally have lower mileage, are more carefully maintained, and have been in fewer accidents. When you buy a pre-owned vehicle from a dealership or private seller, you don’t always know what you’re going to get.

Visit Autoflex Leasing to learn more about the option to lease a pre-owned car and take advantage of the benefits that come with making this decision. We’ll help you find the perfect vehicle for your lifestyle while keeping you well within the budget you’ve set for your ride.