Looking to make an upgrade your Rye commute? If you’re shopping with a tight budget in mind, used or certified pre-owned vehicles are excellent options to consider. Maybe you’re not quite ready to invest in buying a car at this moment.
So if you are curious, “Can you lease a certified pre-owned car?” Certified Pre-Owned leasing is offered by many manufacturers, though it is typically not advertised as much as new car leasing. In the guide below, Mercedes-Benz of Greenwich covers everything you should know about leasing a certified pre-owned car in Greenwich.
Can You Lease a Certified Pre-Owned Car?
Most manufacturers allow certified pre-owned vehicles to be leased. In general, the CPO vehicles available for leasing need to be less than 4 model years old and have less than 48,000 miles on the odometer. However, this can vary depending on the dealership. This means that if you want to lease a certified used vehicle, you’ll need to visit a franchised dealership like those that are a part of Mercedes-Benz of Greenwich near Stamford.
Typically, it’s only at franchised dealerships where you can find certified pre-owned vehicles. According to the National Automobile Dealers Association (NADA), the list of manufacturers which are said to offer CPO leasing 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 Certified Pre-Owned Car Leasing Work?
Leasing a certified used vehicle follows a pretty similar process to new vehicle leases. The difference between the sale price of the vehicle and its estimated value at the lease end will determine the monthly lease payment. You may be curious, how much can you negotiate off a certified pre-owned car? It’s important to keep in mind that certified pre-owned cars depreciate more slowly than new cars, so the difference between the sale price and estimated lease-end value will be smaller and your monthly payments will be lower.
Like new car leasing, when your lease ends you will need to return your CPO lease to the dealership. There will also be mileage limits you will need to adhere to.
Benefits of a Certified Pre-Owned Lease
- Monthly Payment Amount: As we noted above, you can lease a certified pre-owned for a lower monthly amount than you would a new car.
- Potential for Lease Buyout: Can you finance a certified pre-owned car? Luckily, the estimated value of a used vehicle will be lower at lease-end when compared to a new vehicle, which could make a lease buyout more affordable when you reach the end of your lease term.
- Lower Insurance Rates: There’s a good chance you can get a lower car insurance rate with a CPO lease, as insurance costs are partially based on the car’s value.
Visit Mercedes-Benz of Greenwich to Lease Your Next Vehicle Today!
Still have questions like, “Can you lease a certified pre-owned car?” or, “Can you finance a certified pre-owned car?” The team at Mercedes-Benz of Greenwich has all the details. Feel free to contact us for more information on how the process works at our Greenwich dealership serving the greater New Canaan area. Our finance team is here to help you get the best deal on your next vehicle!
