| What is a Used Car Lease ?
A used car lease is a car that is a pre owned car. A used car lease can be a demo car that a dealership loaned out to either the manager or owners of other cars that were in for maintance, typically these cars have very low miles tops 6k miles. A used car lease can also be a car that has just been returned off of lease and has 20-30k miles on it. A used car lease can also be any car 2-3 years old that you find in say the autotrader or on ebay. There are a few banks these days that do used car lease.
So is a used car lease right for you?
There are several things to consider before opting for a used car lease. The first is the year of the vehicle. Are you going to be entering a 2-3 year old car that has 20-30k miles on it that may encounter problems during the duration of your used car lease ? You may opt for a extended warranty through a third party company to cover you in the event there are some problems after the original manufacturers warranty expires. Is there a newer model of the car you are thinking of doing a used car lease on coming out in the next year or less? Remember you will be in this used car lease for 36-39 months. A used car lease is typically a heck of a lot cheaper then getting a new car lease , however the higher mileage and not being covered by the original manufacturers warranty may lead to more expenses down the road.
Summary
A used car lease is a heck of a lot cheaper then a new car lease. However, getting the right used car lease with low miles and a lot of manufacturers warranty left is the best way to get a used car lease.
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