Can You Lease a Used Car?

Are you looking to lease a used car but have questions about the process? Or, maybe you’re wondering if it’s even possible to do. Not only can you lease a used car, but it’s pretty similar to leasing a new model! 

Learn how the used car leasing process works with the car-buying professionals at Shenango Honda, serving the Sharon area. Then, reach out to our finance center when you’re ready to go over your leasing options! 

Why Leased a Used Car?

Leasing a used car is an excellent option if you’d like to upgrade to something more budget-friendly than a brand-new Honda. Plus, leasing gives you a little more flexibility if you’re not ready for full ownership and only plan on mostly driving your vehicle in the Hubbard area.

• Lower Insurance Costs: Since insurance costs are usually affected by the value of your car, you’ll probably end up paying less to insure a pre-owned lease. 
• Lower Monthly Payments: Compared to leasing a new vehicle, used car leasing offers you the ability to have lower monthly lease payments. 
• Easier to Buy Out the Lease: Used car leases usually have lower estimated values by the end of their lease term compared to a new car. This means that buying out the lease of a used car would be much more affordable than buying out the lease of a new car.  

What Kind of Used Car Can You Lease?

How can you lease a used car? Can it be any kind of used car? Many automotive manufacturers only allow drivers to lease a certified pre-owned car, which is a pre-owned car that has to meet more strict requirements. The requirements are different for every brand, but here are the Honda certified pre-owned vehicle requirements: 

• Can’t be more than 5 model years old
• Can’t have more than 80,000 miles on the odometer
• Must pass a 182-point inspection
• Must have a CARFAX vehicle history report

What Happens When You Lease a Used Car?

As we mentioned before, used car leasing follows pretty similar guidelines to new car leasing. When you lease a used car, the monthly payment is determined by subtracting the sale price from the vehicle’s estimated value at the end of its lease. But, as we also mentioned before, your monthly used car lease payments are usually much lower than leasing a new car because pre-owned cars have already experienced most of their depreciation and hold their value better. That means that the car won’t lose much of its value, which contributes to lower monthly payments. 

What Do You Do Once Your Used Car Lease Is Up?

Once your certified pre-owned lease term is up, all you have to do is return the vehicle to our dealership in Hermitage. Returning a leased car at Shenango Honda is simple and convenient since once you drop off your vehicle with us, we’ll take care of the rest of the process. Not only can you lease a used car, but when you lease a used car with Shenango Honda, it’s as straightforward and stress-free as possible!

Lease a Used Car at Shenango Honda!

If you still have questions about the used car leasing process or anything else at all, contact Shenango Honda! We’re also conveniently located near Mercer and would love to speak with you in person.