Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Car Leasing and other Auto Loans topics.
The used car lease is becoming more and more of a staple in the car financing industry. A used car lease can provide excellent value (assuming you lease a car that is known to hold its value, such as a Honda Accord or a BMW-3-series).
A lease payment is mainly for depreciation. A car depreciates most rapidly in its first year. This means that a used car lease should be less expensive than a new car lease. When considering a used car lease, look for cars that are no more than two years old (one year is better) and have low mileage. Also, keep the lease term to 36 months or less.