Ive been looking into a few new car options and in searching one dealer brought up the idea of leasing a slightly used car. A certified lexus or the like with low mileage. It appears there is plenty of inventory to find something like that. Has anyone had any experience? Im very experienced with new car leases but finding data for used car leases seems impossible. The sales guy is looking into it as he wasnt sure how the numbers work out but id like to see what kind of experiences others might have had. Thank you!
I didn’t even know that it was possible to lease used cars.
@oogabooga
I’ve looked into this myself and only gotten lucky one time for a used car lease on a BMW and that was back in 2002. I find that new leases are typically better because of all the incentives offered via rebates, better interest rates, loyalty offers etc which often do not apply to used vehicles.
Looks like it can be very beneficial if you can find a 1 or 2 year certified preowned with very low amount of miles. Otherwise, its typically in the ballpark of an average to good lease deal of a new. Its worth looking at inventory if you dont mind the idea!
I would certainly consider leasing a used car if it was under full warranty the entire lease term and I was mostly certain I would not have to replace the tires at turn in. That is an expense you would hate to have to incur, unless the deal was too good to pass up.
You can consider leasing a CPO that has extended warranty, that should take care of the warranty issue. As far as the tires are concerned, you’ll have to go through 1 set of tires regardless if the car is new or used. On a typical 3-yr new car lease, you’ll end up having to replace the tires towards the end of the lease, leaving the dealer with almost new tires upon lease return. On a used car lease, let’s say tires already have 12k miles on them, you end up replacing the tires sooner and return the car to the dealer with moderately used tires. Either way you’re buying 1 set of tires.
I don’t plan on having to replace tires after 2 years and 20,000 - 30,000 miles. GM says 4/32 of tread is acceptable. Guess we will find out in 2 years.
I’m interested in leasing a 2016 Audi TT with about 5K miles on it. Factory warranty is 4 yr/50K miles, but would this transfer over? Also- most of the dealers have said they “don’t lease used cars.” Are there third party companies that would do a 3 year lease?
There is a difference between a “demo” (never got a title with X miles on it) vs “used cars”. There are companies that specialize in used car leases (no market leader though, fairly fragmented) but generally it is not a good idea.
There is actually a thread here about 3-4 months ago (maybe 6 months) about used car leases
The RVs are basically all over the place (which makes it higher risk, therefore higher interest rate) and the biggest thing is that the car is out of warranty so you have to come out of pocket to fix everything. You can purchase an extended warranty from Mercury but there are still deductibles and everything so in the long run, you are basically there on a new car lease.
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