Can You Lease A CPO Vehicle?
There are many options when it comes to shopping for a new vehicle. Some people prefer buying new, while others look for a certified pre-owned vehicle (CPO). Some may even want to lease a vehicle, which can make more sense for some, depending on driving habits and lifestyle.
Of course, leasing a brand-new vehicle can still be expensive, bringing the question: Can you lease a CPO car?
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What is a CPO Vehicle?
As mentioned above, CPO stands for certified pre-owned. This differs from simply being a used vehicle or just having a “certified” sticker slapped on the windshield. A CPO can only achieve the title by passing rigorous manufacturer standards after an inspection. The requirements vary slightly between manufacturers, but they always uphold a certain quality standard.
For example, Porsche’s CPO program requires vehicles to be less than 13 years old, have less than 124,000 miles, and pass a 111-point inspection. On the other hand, Mercedes-Benz has even higher standards, with CPO only being granted to vehicles under six years old with less than 75,000 miles.
Leasing a CPO Vehicle
So, to answer our initial question, yes, you can lease a CPO vehicle! In fact, this is becoming a more common scenario for people to find more affordable leases. Brand-new cars are often leased for around three years in the first part of their life span. At this point, the dealership can sell them as CPOs or lease them again as CPO vehicles.
The Advantages of Leasing a CPO Vehicle
Let’s take a look at some of the pros and cons of leasing a CPO vehicle:
Pros of Leasing a CPO Vehicle
- Lower monthly payment – Since these are lightly used vehicles, the monthly lease payment will be lower than leasing a brand-new vehicle. This can also let people get their hands on wonderful luxury vehicles at a portion of the cost.
- Access to Better Vehicle – Lease payments may be lower than those of buying the same type of car. This means people may be able to have a nicer and newer car with CPO leasing as opposed to buying.
- Additional Manufacturer Warranty – CPO vehicles include an additional warranty through the manufacturer, which can help drivers feel more protected.
Cons of Leasing a CPO Vehicle
- Availability – It can be harder to find CPO leases, as not every dealer offers them. This means that the selection of available vehicles could be limited.
- Wear and Tear – Of course, CPO vehicles will have more wear and tear than brand-new vehicles.
- Outdated Technology – Those who like top-of-the-line features may find CPO vehicles lacking in this area. Since CPO lease vehicles will typically be a few years old, they likely won’t have all of the newest tech and features.
At the end of the day, the right choice between leasing a brand new or CPO vehicle comes down to driving habits and budget.
Ray Catena is Here for All of Your Lease Needs
Whether you are considering leasing a brand-new vehicle or a CPO vehicle, Ray Catena is here to help. Our expert team is here to answer all your questions and help you find the perfect vehicle. Contact us online or come to one of our dealerships across New Jersey to schedule a test drive.
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