Has anyone leased a certified pre owned car before? What do the numbers usually look like? Are they significantly cheaper than the same car brand new? I’ve seen offers from BMW, Mercedes, Audi and Lexus all saying it’s possible and and it’s a “great deal”, but in reality how great is it?
It depends on which cpo cars you are asking about. For BMW loaners/demos can make excellent leases as they qualify for new car programs. If you are talking about cars that are several years old, I have never seen a deal that was even remotely good, and usually more expensive than demos/loaners.
I don’t know about CPO cars but BMW does it for “executive demo” cars which generally have less than 10K miles. There are some vey good deals to be had. I leased an Executive Demo 2015 BMW Z4 (LOADED) with 10,000 miles for only $350/mo. Most BMW dealers have a section on their site for pre-owned leases. Here’s one in California:
Those are often “CPO Elite” cars
With BMW they provide some sort of sales support to 3 and 5 series (maybe more, but not positive of that) so the residuals can be decent for CPO’s with those cars (Still dollars based, not on a percent). With other cars, its not good. If you were to lease a brand new M3 or a CPO M3 (like a 2014 or 2013), your payments would be cheaper with the CPO, but not significantly.
I know I read somewhere online the way of calculating residuals for BMW Cpo’s (not loaners or demos) its a complicated process, but there is a chance it could be a decent deal if the car is getting support from BMW, like a 3 or 5 series would.
Does Audi even do service loaner leases??
BMW of Freeport told me that BMW corporate discontinued the leasing of CPO vehicles a couple months ago (I’m posting this May 15 2017). Is that true?
Also, anyone know of any Mercedes dealers doing CPO leases in the NY/Tri-State area?
Thanks!
You can still lease demo vehicles its just the residuals get worse for cars over 5k miles
Check on Bimmerfest forums (Ask A Dealer section) for BMW.
For Mercedes, call around to a few and let us know what you heard.