Yes, you can lease a used car. No, not every dealer offers used-car leasing. Here’s the rundown of leasing a used vehicle.
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The Ins and Outs of Leasing Your Vehicle
Leasing your vehicle means you pay for the vehicle’s depreciation, but you don’t own the vehicle while you’re in your lease. Consider it more like a multi-year rental agreement.
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ALG 2019 Canadian Residual Value Awards
Residual value is an auto industry term for what most of us call a vehicle’s resale value. It’s a calculation of what a car is worth at a given time after it’s purchased new, and is usually expressed as a percentage of the original MSRP.
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