Used Car Leasing FAQs

In the past, you knew that when it was time to look for a new car you had two options: buy or lease. If you wanted to buy, you would choose between a new vehicle and a pre-owned vehicle. If you wanted to lease, however, that meant you had to choose a new vehicle.

That's not the case anymore--at least here at Reagor Auto Mall Lubbock. We're proud to offer customers who want to get a used car the option to lease it, rather than purchase it. This offers you the benefit of a used vehicle but the ease and convenience of a lease.

Let's look more closely at some of the most frequent questions we get at our dealership about leasing a used vehicle.

"How do I know if leasing a vehicle is the right choice for me?"

It's easiest to answer this question by posing a few of our own. Do you like to drive newer model vehicles? Do you drive less than 15,000 miles each year? Do you trade your cars in frequently? If you answered, "yes," to all of these questions, then leasing is likely the best way for you to pay for your car.

"If I choose to lease, will my monthly payment be the same as if I took out a loan?"

No. Generally speaking, you'll enjoy less of a monthly payment when you lease a vehicle rather than purchase it. This is particularly important when you think about the type of vehicle that you want to drive. Frequently, drivers choose a more expensive model when they lease, thus giving them more for their money. That is completely up to you, however. You could choose the exact same model when you lease and save that money monthly.

"What are the other benefits of leasing a used vehicle?"

Buying used is a smart move. Depreciation on a used vehicle is much less than that of a new vehicle. Enjoy that while still enjoying all the perks of leasing. You'll have low-to-no costs associated with repairs, depending on the lease agreement you sign.

"Will I have to pay for mileage over that on my lease agreement?"

Yes. Just like a lease on a new vehicle, you still need to stick to the agreed upon mileage per year in your lease contract. However, your mileage limit can be negotiated. You can also purchase extra miles at the start of your lease term, if you know that you will exceed the limit.

"What happens at the end of my lease term?"

You have three options at the end of your lease term, just as you would if you were leasing a new vehicle.

  1. You can choose to purchase the leased vehicle.
  2. Alternately, you can return the leased car and choose a new car to lease.
  3. You can return your leased vehicle and walk away.

When it comes to lease deals on used cars, you have a lot of options to consider. Not only do you need to answer the questions above for yourself and your unique situation, but you should also consider the importance of GAP insurance. This is a special automotive insurance that will cover the full cost of the car in the event that your leased vehicle is stolen or damaged beyond repair.

Also, keep in mind that just like a lease on a new vehicle, a used car lease customer will be charged for damages over what is considered "normal wear." While the definition of normal wear differs slightly from dealership to dealership, it's important that you're familiar with what is in your own lease contract.

At Reagor Dykes Auto Mall Lubbock, we have a wide inventory of beautiful used vehicles for you to choose. Stop in soon to learn more about any of these cars, trucks or SUVs, or to ask us any questions about our used vehicle lease program.

Contact

Reagor Auto Mall Lubbock

1211 19th Street
Directions Lubbock, TX 79401

  • Sales: (888) 790-4491
  • Service: 888-788-0434

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