The market for used car leasing is relatively small; however, to lease a used car, either the dealership will need to agree to a contract or it can be sought after an owner who has a lease. However, consumers who lease used vehicles, especially those initially under someone else's care, are automatically made financially responsible for any overages the car may have.
Leasing a used car requires a consumer to be attentive to the vehicle. Use these following instructions to lease a used car.
- Find the vehicle
- Research the vehicle
- Negotiate the price
- Sign the contract
Take the care to search through several dealerships for the same type of vehicle. Pay attention to the market and price it.
Some vehicles may have had accidents. Take the time to research the history of the vehicle before making any concrete decisions.
Since the vehicle is used, there is room for negotiation. Take the time to talk the price down with the dealership.
After coming to a fair price, discuss the terms on the contract. Calculate how many miles the car is expected to be driven to set the annual mileage at something feasible, as overage prices can often range up to 25 cents a mile.
Those assuming a lease from someone else's possession generally have a larger margin of risk. The vehicle should be heavily inspected by a mechanic before it is released to another owner.