Leasing a Pre Owned Vehicle

Hi Everyone,

We’re now offering leases on pre owned vehicles, low mileage and late model years 2020 and newer.

They may not be the typical lease hackr payment leases due to low residual values.

They average a money factor of .00215 to .00225 for 750 scores or better, 680 to 749 scores get 00260 to 00270

With the state of the current new vehicle market, we have access to alot of the pre owned vehicles that have had a year of depreciation. We’re constantly searching high and low for vehicles in near new condition that would normally be hard to find as brand new.

The feedback from people is these leases are a happy medium between a lease and a finance (especially with a low residual) and no lease buyout restrictions on these leases.

Here is a google list of vehicles that we’ve been running lease examples on.

We would love your feedback and let us know if interested in any of the vehicles on the list or let us know what you’d like and we’d be happy to find something for you!



Here’s my honest feedback. First, it is nice to see some cool vehicles such as the new Hummer EV. As far as the not so great feedback, most folks on LH will scoff on putting any money down on a lease; $50k down on a Hummer ain’t happening with this crowd.

Thanks for sharing numbers though.

I see the premise in this & applaud the creativity (or at least the capital outlay), my jaw is working its way up from the floor.


I know right! the mark up on those new Hummer EV’s are insane, like the sheet says, those lease examples down payment and monthly can be changed. We just used some larger down payments to get the monthly down.

We’re also now offering virtual consignment. So those not receiving enough equity from selling their off lease vehicles to a dealer.

We’ll offer a higher amount and do a 14 day consignment

Just my two cents, but I think this is the wrong strategy. $4k or $5k down for a Telluride, Integra might sound right on paper, but realistically these should be set at a fairly low amount, maybe $1k or $2k tops. If that makes the payment too high, than it means the program structure probably isn’t right for those people. Goosing up the DP to get the payment into a certain range feels a bit disingenuous. I know that’s not your intent, but that’s how it come across.

The other piece of feedback is to do some internal benchmarking on what the net offer (effective payment) is vs. a new one from say a dealer or broker here for vehicles with immediate availability anyway. If the offering isn’t at least in the ballpark, probably best to steer customers towards financing it pre-owned vs leasing (I assume you offer both options?).

One more last one: for vehicles already aged 1-2 years, a 48-mo lease is probably going to run out of warranty. I would also bake in an extended 3rd party warranty that keeps the vehicle in coverage up to the end of the 48-mo period. Or at least have a separate column with pricing that does include it.

Again, just one person’s feedback! Always great to have more options, good luck!


Large down payments in this forum I know can be a turn off. Also the Telluride market is a bit wonky for sure. Dealers are at $5k over plus adds.

Yes added warranties are available to keep coverage thru the term of the lease.

Its certainly a different animal with pre owned vehicles vs new cars that everyone on this forum is used too.

We’re very competitive on highline vehicles like Porsche and Mercedes

Good God.
Just the last 2 examples.

2022 HYUNDAI SANTA FE AWD 4dr Wgn 2.5L SEL 2802 48 10,000 miles $2,000.00 $895.00 $17,994.42 $2,504.99 $504.99 $34,145.00
2021 HONDA PASSPORT 2WD 4dr Wgn EX-L 8001 36 10,000 miles $3,500.00 $895.00 $22,397.00 $3,966.28 $466.28 $32,500.00

So $26745 paid on a $34k MSRP, and still have an $18k RV.
Or $20,745 paid on $32.5k MSRP, and have $22.4k RV.
In a way, that’s like 30% extra in MF and fees.
Makes the $15k (10%) in interest and fees on the $149k Cayenne look like a steal.

Then again, the Porsche is a 2020, so the MSRP is not an accurate representation of its current value. Same for that Stelvio. Why not put asking prices rather than original MSRPs on the older ones? MSRP is irrelevant.

It is a unique concept with a list of cool vehicles to choose from, but the figures are astronomical.

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