Which Companies Offer Leasing for Certified Pre-Owned Cars?

Higher prices and loan rates are creating a growing affordability gap for new-car shoppers, causing many to consider “newish” certified pre-owned vehicles to get a lower payment without breaking the budget. Can you get an even lower payment by leasing that CPO car? The answer is yes, as several automakers are offering a lease option for their CPO cars.

Related: Should You Lease a Certified Pre-Owned Vehicle?

Automaker CPO programs offer late-model, lightly used vehicles alongside new cars at their franchised dealers. A CPO vehicle, which is often coming off a new-car lease, is a kind of premium used car that has received a full inspection; it commonly comes with an extended warranty and other perks on top of any of the new-vehicle warranty that might be left. Automaker-sponsored leases on CPO cars generally work the same as new-vehicle leases, and they likewise are available only at franchised dealers.

Automakers generally don’t trumpet CPO leasing options the way they do new-car leases — leasing of used vehicles overall remains just a niche of around 8.5% of the total auto leasing market, according to data tracker Experian. But CPO leasing got new attention recently with the publicized launch of a new CPO leasing program for Honda and Acura vehicles. Honda says the program provides “more choice and a flexible cost of entry into the brand for young and first-time buyers.” Honda is already a big fish in leasing — it’s the most leased brand in the U.S. for new vehicles; it accounted for 11.75% of all new-vehicle leases in the first quarter of 2024, according to Experian, and the CR-V was the most-leased vehicle at 3.12%.

Which Automakers Have CPO Leasing Programs?

Here are automakers surveyed by Cars.com regarding CPO leasing at their franchised dealers, along with basic details of their programs. Note that some automakers’ financial units lease directly, while others lease indirectly by buying contracts written by their dealers.

• Acura: CPO vehicles five model years old and newer are eligible. Gap insurance is included. Leasees have the option to purchase the vehicle at lease-end.
• Alfa Romeo: No CPO leasing program at this time.
• Aston Martin: No CPO leasing program at this time.
• Audi: No CPO leasing program at this time.
• Bentley: CPO vehicles five model years old and newer are eligible. Leases are written by the dealer and reassigned to Bentley Financial Services. If the vehicle is total loss, BFS will waive any difference between the amount owed and insurance settlement. Leasees have the option to purchase the vehicle at lease-end.
• BMW: CPO vehicles from the current and prior four model years are eligible. The mileage allowed by the end of the lease contract may not total more than 100,000 miles (miles at the lease signing plus miles allowed during the lease term). Gap insurance is included. Leasees have the option to purchase the vehicle at lease-end.
• Buick: Model-year 2021-23 vehicles with up to 20,000, 35,000 or 50,000 miles, respectively, are eligible. Leases are written by dealers and reassigned to GM Financial. Gap insurance is included. Leasees have the option to purchase the vehicle at lease-end.
• Cadillac: Model-year 2021-23 vehicles with up to 20,000, 35,000 or 50,000 miles, respectively, are eligible. Leases are written by dealers and reassigned to GM Financial. Gap insurance is included. Leasees have the option to purchase the vehicle at lease-end.
• Chevrolet: Model-year 2021-23 vehicles with up to 20,000, 35,000 or 50,000 miles, respectively, are eligible. Leases are written by dealers and reassigned to GM Financial. Gap insurance is included. Leasees have the option to purchase the vehicle at lease-end.
• Chrysler: No CPO leasing program at this time.
• Dodge: No CPO leasing program at this time.
• Fiat: No CPO leasing program at this time.
• Ford: No CPO leasing program at this time.
• Genesis: No CPO leasing program at this time.
• GMC: Model-year 2021-23 vehicles with up to 20,000, 35,000 or 50,000 miles, respectively, are eligible. Leases are written by dealers and reassigned to GM Financial. Gap insurance is included. Leasees have the option to purchase the vehicle at lease-end.
• Honda: CPO vehicles five model years old and newer are eligible. Gap insurance is included. Leasees have the option to purchase the vehicle at lease-end.
• Hyundai: No CPO leasing program at this time.
• Infiniti: Infiniti and Infiniti Financial Services are testing a CPO lease that currently is limited to model-year 2024 QX60s with 7,500 miles or less. Leases are written by dealers and reassigned to Infiniti Financial. Gap insurance is included. Leasees have the option to purchase the vehicle at lease-end.
• Jaguar: No CPO leasing program at this time.
• Jeep: No CPO leasing program at this time.
• Kia: No CPO leasing program at this time.
• Land Rover: No CPO leasing program at this time.
• Lexus: Lexus offers CPO leasing and has special rates for specific vehicles at times (currently ES, GX, NX and RX models). Leases are written by dealers and reassigned to the finance unit. Leases are currently offered on model-year 2020-24 CPO vehicles with 80,000 miles or less. Gap insurance is included. Leasees have the option to purchase the vehicle at lease-end.
• Lincoln: No CPO leasing program at this time.
• Maserati: No CPO leasing program at this time.
• Mazda: No CPO leasing program at this time.
• Mercedes-Benz: No CPO leasing program at this time.
• Mini: No specific CPO leasing program at this time, but dealers can write leases for used vehicles (CPO and otherwise) through leasing products that could be acquired by Mini Financial.
• Mitsubishi: No CPO leasing program at this time.
• Nissan: No CPO leasing program at this time.
• Polestar: No CPO leasing program at this time.
• Porsche: CPO vehicles five model years old and newer with up to 72,000 miles are eligible, subject to limitations on “extremely high-end vehicles.” Leases are from 12 to 60 months. If the vehicle is total loss, PFS will waive any difference between the amount owed and the insurance settlement. Leasees have the option to purchase the vehicle at lease-end.
• Ram: No CPO leasing program at this time.
• Rolls-Royce: Model-year 2018-23 CPO vehicles (will change to 2019-24 in July) qualify. Leases are up to 48 months, and mileage limitations vary. All models are eligible except for a very small number of Special Collection cars. Leasees have the option to purchase the vehicle at lease-end.
• Subaru: No CPO leasing program at this time.
• Tesla: Tesla has no media contacts, but its pre-owned vehicle listings offer no leasing option.
• Toyota: Vehicles up to three model years old are eligible. Leases for one-year-old vehicles are 24 to 60 months, and leases for two- and three-year-old vehicles are 24 to 48 months. Leases are written by dealers and reassigned to Toyota Financial. Leasees have the option to purchase the vehicle at lease-end.
• Volkswagen: No CPO leasing program at this time.
• Volvo: No CPO leasing program at this time.

Is Leasing a CPO or Other Used Car a Good Idea?

Leasing can offer a lower-payment way to have a vehicle for a few years, but it is almost always more expensive in the longer term than buying the car — new or used — and keeping it. But leasing a CPO vehicle can offer less risk than other used vehicles thanks to the inspection and warranty. You can read more on Cars.com about things to consider before leasing a CPO.

You still can lease a used vehicle if there is no automaker CPO leasing offer. Dealers, some banks and other third parties will write leases on used vehicles. Another way to get a used-car lease is by taking over someone else’s lease through a transfer, which can be done via services such as LeaseTrader or Swapalease. You can read more on Cars.com about pros and cons of used-vehicle leasing in general.

More From Cars.com:

• Can You Lease a Used Car?
• The Basics of Buying a CPO Vehicle
• Pros and Cons of Buying a CPO Vehicle
• Factory CPO Programs Versus Other ‘Certified’ Vehicles
• Pros and Cons of CPO Versus an Extended Warranty
• How Do I Calculate if a Lease Is a Good Deal?
• Glossary of Car Leasing Terms
• How Does Leasing a Car Work?
• How Do I Calculate if a Lease Is a Good Deal?
• More Leasing News
• Search for CPO Cars

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