Buying a Car off Lease
Buying a car off lease is an option that many drivers strongly consider when they are in the market for a used car. There are many good reasons to go ahead with a purchase like this, and many advantages to this type of buy for drivers. Obviously, a returned lease is a used vehicle, in most cases two or three years old. Late model used cars can be excellent values for buyer because so much of a car’s depreciation in value happens early on.
Depreciation and Used Cars
If you are targeting used cars off lease and you’re looking mostly at vehicles that are around two or three years old, you are likely to see prices that are nearly half off of their original MSRP. It is amazing how much value a car loses early on. In fact, cars are worth less as soon as we drive them off the lot upon purchasing them, which is incredible to think about. However, you will have all of the new standard features, such as GPS systems and child safe locks.
Depreciation is something that hurts new car buyers when it comes to resale. But that very same phenomenon helps you as a used car buyer. Buying a used car off lease gives you a late model, low miles ride that has probably been reconditioned to near mint condition inside and out. Buyers that choose to take this route can really get some great bargains on their vehicles.
Take Care Buying Lease Returns
In many cases, people who lease their cars take very good care of them because they do not need the hassle of getting in trouble over the condition of the vehicle when they return it at the appointed time. Buyers can feel good about their chances of getting a good car, truck, or SUV that’s “like new” in the way it looks and runs. These are the special values and the best lease returns to snap up as buyers.
But used car shoppers have to beware when they make the choice to buy off lease. There are some lessees that abuse these cars and don’t care about them at all because they don’t own them. Some do things like rolling back the mileage or unplugging the odometer to hide how many miles they’re driving on it, or never once changing the oil the whole time they have it.
It can be tough telling the difference, but there are usually at least a few red flags in the difference in condition between the two. Make sure you take a good test drive of any car you are thinking about buying. Go by yourself and turn off the radio so you can listen to the car as it runs. Also go over the exterior and the interior to see what condition it is in. Check under the hood to look there as well.
Best Values on Lease Returns
Buying a used vehicle off lease is a great way to get a good price on a used car. But just like any other used vehicle purchase, the buyer has to beware of things that they need to look for. Consider dealer or manufacturer certified vehicles so that you can be assured of their quality. Think about choosing cars under warranty for this same reason.
Save money and get a newer low miles ride by buying a car off lease. It is a great strategy to get you into a car with a lot of life left in it for a low price. And a used car will save you a lot of money on your car insurance rates as well. Save on used cars off lease.