Can You Lease a Used Car?
Many drivers choose leasing as a flexible alternative to effectively solve their driving needs. This long-term rental agreement lets you drive a new car through a monthly payment plan and enjoy all the perks that come with it.
You may be wondering, "Can you lease a used car?" At Ray Price Ford, serving Mount Pocono, Tobyhanna, and Pocono Pines, Pennsylvania, we want to say yes, you can lease used models. Our finance team has put together this brief guide about the little-known world of leasing used cars for drivers near Scranton and Blakeslee, Pennsylvania. Keep reading to learn more.
Differences in Leasing a Used Car
Yes, you can lease a used car, and there are a few differences from leasing a new model. One is that not many dealerships provide used car leases, so they’re not that common. Also, leasing a used vehicle usually comes with cheaper monthly payments than choosing a new model.
Additionally, many drivers look for certified pre-owned vehicles to enhance their peace of mind when leasing. These vehicles are inspected and typically perform well for years. Visit our used car dealer near Mount Pocono, PA, and let our team guide you through all our offerings to find the ideal used car to lease.
The Benefits of Leasing a New Car
If you're considering a new car lease, it also comes with all sorts of benefits, such as comparatively low monthly payments (as you're not paying the full sticker price on the car) and the chance to upgrade to a new model every few years. Leasing is a versatile financing option, too. A few things you can do when leasing a new car include:
End your lease early
Swap out your current lease early to begin leasing a new car
Buy your leased vehicle once the current lease expires
These options provide the flexibility that many drivers value as they let you change your situation according to your current lifestyle and make a decision based on experience.
Buying Used vs Leasing New
There are a few differences between leasing a new car and buying a used car, and we want to cover them for you here. For one, a used car will have more miles on the odometer and generally need more maintenance than a brand-new vehicle. Some of these maintenance items may not be covered under the original manufacturer warranty. However, we do offer warranties for certified pre-owned models.
Most lease agreements for new cars include maintenance. You'll want to ask us about this before you sign a lease deal and consider if you want to factor maintenance into your budget.
Leasing vs Buying
Before you decide to lease a car, it's important to be aware of the difference between leasing and buying. When you buy a used car (either outright or by financing your purchase), you own it fully—at least once you've finished making any payments.
This gives you more control over what you do with it. You can make unlimited modifications and drive as many miles as you like near Scranton or Blakeslee, PA. Also, there's another advantage: Once you've finished paying off the car, you won't have any monthly payments for the remainder of the car's life under your ownership.
When you lease, it's important to know you don't own the car. This means you'll have set restrictions on mileage and modifications, but you'll enjoy freedom in many other ways. Low monthly payments and a flowing trade-in at the end of your lease are significant benefits.
Contact Us to Learn More
If you're interested in leasing, contact our team at Ray Price Ford. We can help you learn more about car leasing in general and the options available for leasing a used car. If you live near Mount Pocono, Tobyhanna, or Pocono Pines, PA, we're happy to help you find the perfect plan!
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