The Truth About Leasing Used Vehicles

Raised in Brownsville, Texas, Michael Albert Hernandez III now lives in Dallas and presides over D&M Leasing as its chief executive officer. Through his company, Mike Hernandez III leases quality personal and commercial vehicles. More manufacturers are currently offering leases on gently used cars, especially after record new car sales in recent years have brought many used cars to the market. Some corporations have tried to make the deal more palatable by extending repair reimbursements even when warranties have expired.

However, why would someone want to take out a lease on a used vehicle, especially since the benefit of leasing a car to begin with is the ability to drive a new one every couple of years? The major benefit is price. Used vehicles have already taken their largest hit of depreciation and lower monthly payments are the result. 

At the same time, it is important not to rush into a lease on a used vehicle. Ideally, the car comes with a Certified Pre-Owned warranty, which can protect against out-of-pocket expenses. Lexus, BMW, Acura, and Porsche tend to offer good warranties on their used vehicles.