noobie at leasing… and searched the forum but can’t really find the answer.
what is the difference between leasing a CPO vs pre-owned?
if both car is 2017 and lease term/mileage will still be under the “New Vehicle 4-Year/50,000 Mile Warranty”? or the pre-owned don’t carry over to new owner?
thank you guys in advance!
A CPO is a pre-owned car for which the dealer has paid the manufacture a fee to increase the warranty period so that the dealer can slap a CPO tag on it in hopes of selling it to you for more than he could otherwise.
Most financing companies will not give you a lease on a pre-owned car. However… if the car was owned by the manufacture or the dealer for use a loaner or demo car you often can lease it. Often these loaner cars are listed as CPO cars on the dealer website, to figure out if it is leasable, you need to look at the carfax report and see if it was owned by an individual or the manufacture.