Can You Lease a Used Car?

Leasing used cars is possible, but most dealerships don’t offer used car leases unless the vehicle is a certified pre-owned model. Take a moment to learn about what certified pre-owned models are and what to expect when leasing one. Then, rest assured that you can lease a used car from Pfaff Leasing. We have locations in Toronto, Calgary, and Vancouver!

What Are Certified Pre-owned Vehicles? 

As we mentioned earlier, you can lease a used car from a dealership when you work with a Pfaff Leasing dealer. However, while you can lease a used car, it must be a certified pre-owned model. So, what are certified pre-owned models, and why are they eligible for a used car lease when regular pre-owned models aren’t? Let’s take a closer look: 

• Certified pre-owned models are deeply inspected by brand-certified mechanics to ensure like-new quality.
• They have low kilometreage on the odometer and are no more than a few years old.
• They come backed by extended warranties for added peace of mind. 
• They come accompanied by vehicle history reports and feature perfect service records. 
• Certified pre-owned vehicles also often include a variety of additional perks, like 24/7 roadside assistance.

While you can lease a used car, it must be a certified pre-owned vehicle. This is because it’s cost-effective for dealerships to lease certified pre-owned vehicles, which are known to be highly reliable. If a dealership were to lease regular used cars, there would be many instances where the car broke down, but the lessee was still on the line for the remaining lease balance. Since certified pre-owned vehicles are still under warranty, this liability concern isn’t an issue. 

How Does Leasing a Used Car Work? 

Now that you know you can lease a used car, but that a used car lease is typically only available for certified pre-owned models, you may be wondering what the steps to lease a used car are. Follow these simple steps to get started: 

• Reach out to one of our locations in Toronto, Calgary, or Vancouver. 
• Find a certified pre-owned vehicle you love. 
• Apply for pre-approval at that dealership, and then, once you’ve been approved for a loan, discuss the terms and conditions of your lease. 
• Bear in mind that leasing a used car can offer exceptional savings. That’s because lease loans cover the estimated depreciation to occur over your lease term. Since used vehicles have weathered more depreciation than new vehicles, it’s likely that your monthly payments will be smaller.
• When your lease expires, you have the option to cancel your lease, renew it, swap out the vehicle, or finance the remaining value with the intent of ownership. 

Lease a Used Car at Pfaff Leasing Dealership Near You 

You can lease a used car at a dealership when you choose to work with Pfaff Leasing. We have locations in Toronto, Calgary, and Vancouver, so we’re likely close by. Simply reach out to your nearest location to discuss the steps of leasing a used car in greater detail and to learn more about our used car lease packages. Call us at 289-236-0357 to get started. But first, read our even more in-depth guide on how to lease a car!