I know it is unorthodox, but I have read leasing a nice used car can be a potential value proposition. I can not for the life of me find a resource for residual values on leasing a used car. I have found that it is possible on cars up to six years old and some financial institutions require it to have a warranty. I am really just looking for a resource to do the math and see what the benefit may be, if any for a particular situation. Anyone able to steer me in the right direction? I browsed the Ally Residual Value Lease Guide referred to in a post I searched on here, but did not see the information being referred to. Thank you.
The bank determines the number on a one off basis… there is no set standard or scale. They want to ensure they make money and covered the higher risk of you walking away so typical RV and interest rates are terrible.
Nor do you have access to any factory incentives. Leasing a used car is a terrible idea.
I have yet to see a single used car lease that makes any financial sense. Please share if you find one. Typically the MF is well above a good used auto loan and the residual is unrealistically low.
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That and the whole warranty, tire and brake wear thing…
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Yes kind of defeats the purpose of a lease.
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The only reason I am investigating is because there is a 2017 with under 10k miles that has already taken a massive hit on depreciation. And I do not want to finance for a normal term. Financing for 36 months is still a really high monthly. It would surprise me if it didn’t make sense in this specific case. Though I haven’t speced out the price of warranties or the possibility of a maintenance plan. Those items, or the potential unavailability of them may make it impossible.
Consider an extended warranty (one that doesn’t suck) is typically between $1,800-3600. On a 36mo lease this is $55-110/mo if rolled in at a good rate.
If I can lease the newer car for the difference or less then that is certainly worth it.
Not sure how you can say that when you have no idea what a bank would set the RV at. If financing this, even after its massive depreciation, doesn’t make sense, I don’t see why you think leasing would.
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Just out of curiosity, what make/model car are you looking at?
Because I’m not looking for a term over 36 months. You’re telling me you expect a finance payment to be competitive at that term?
To clarify, a long term finance is in the neighborhood. I am not going to finance a 2017 for a long term. So that is why leasing has my interest. To see how close I can get on the term I am comfortable with.
I have been looking ahead at what is next when my bmw lease ends in January. Was mainly considering buying a second vehicle until I find the exact lease/car to be my primary vehicle. I stumbled on a very nice maserati that is surprisingly to my taste. I just am not at all into financing things long term, especially a 3 year old vehicle.
It’s not going to be a nice lease. You’re wasting your time if you continue to pursue it
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I’m considering overall costs between buying it used and then reselling it after 3 years vs leasing it for 3 years. I’d guess the former would be cheaper. It will not lease well being used.
What model is it? Have you checked on a new one? Quite a few good deals right now w factory incentives. The only way I would consider a used car lease if it was half the price of a new one, I bet that won’t happen.
It’s close to half.
I understand it doesn’t make sense for you. I do not want the task of selling it. Thanks though.
Who is gong to be the lease holder for this adventure?
Task of selling it? You know the residual the bank sets will be based on the expected wholesale amount (likely lower just to be safe)? I actually think going to a dealer or via Carvana could be easier than some lease turn-ins.
You are essentially financing the car and while giving the bank the ability to set that terms including expected mileage usage. You save a little bit in tax but could easily be offset by a higher APR/MF and arbitrary residual.
How much could a 6 year old Maserati be worth anyway? Can’t be much based on the cost of expected maintenance.
You seem to only want people here to agree with you and that’s unlikely to happen as leasing a used exotic sports car is a terrible idea.
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So you can’t afford to finance the Maserati. What happens when you have to pay for the maintenance and repairs on said Maserati?
Yeah, good luck with this. Let us know how it turns out. I’m guessing it’ll wind up at a repo auction 
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I was looking for constructive information. Thanks for the attack. I’ll remove the post if possible. Maserati are not in the exotic car class fyi. It says so right in the ally residual value lease guide mentioned at the beginning of this thread.