Can you lease a used car?
Can you lease a used car?
Posted on October 18, 2022
Are you interested in leasing a used car? You certainly can! For those who aren't ready to put in the total price for a used car, leasing a car from Brasant Motors is a good choice. Particularly for luxury vehicles, leasing is a widespread option. Drivers can lease cars, ensuring they are always driving the latest models and getting into a new car every few years.
What exactly is leasing
Leasing a car is a straightforward process at Brassant Motors. Drivers can use a used car for a predetermined period by leasing it. The driver and Brasant Motors agree upon a monthly fee paid throughout the borrowing period.Â
Only the car's depreciation during use is what you are paying for. This implies that you only pay the original price less the anticipated resale value at the end of the term rather than the total price. Contrary to other agreements, leases don't require authorization for a car loan.
Does leasing a used car make sense?
It is undoubtedly a wise decision to lease your new, used car. There are benefits to it that shouldn't be disregarded. Four of the top benefits of leasing a used car from Brasant Motors Surrey are listed below.
1. More value can be obtained for your money.
You can save money on a more excellent car by leasing a used vehicle. If purchasing a used luxury car is out of your price range, consider leasing one.
2. Monthly payments are less
Your lease payments may be less than those for a car loan because you're only covering the depreciation of your vehicle while you're using it.
3. Simple process for buying a new car
When it comes time to return the car at the end of the term, all you have to do is drop it off. You don't have to try to sell it; you can worry-free look for your new one.
4. Leasing a used car is possible even with bad credit.
If you have no credit history or bad credit, a lender might be more willing to approve the lease for a used car because the monthly payment is less expensive.
How to lease a used car
At Brassant Motors, leasing a used car is remarkably similar to getting a traditional loan. The exception is that the residual value (the estimated vehicle value at the end of the lease) and the leased portion are divided into the vehicle's "sale" value.Â
To be eligible for leasing, you must fill out a credit application. Your income determines the used car's interest rate and lease terms. When the lease expiration date approaches, you can pay the residual value and keep the vehicle or return it to the dealer according to the pre-agreed terms.Â
Getting a used car on lease at Brasant Motors
With over thirty years of experience and dedicated service, Surrey Brasant Motors is the right dealership for you. You'll find expert advice from a professional team ready to listen. You will find what you want at the biggest dealership for quality used cars with a wide range of vehicles and leasing options.