October 30, 2018
Many people don't realize that it is indeed possible to lease a used car. But what are the risks and how can you mitigate them? One risk is simply the need to service the car over the life of the lease. You can mitigate that risk by focusing your used car lease search on newer cars with lower miles. In addition you can always look into after-sale protections like an optional service contract. Bear in mind that any repairs you must make that are not covered by a warranty come out of your pocket, even though you do not own the car. .
Another risk is simply that you grow tired of the car (or experience a life change) prior to your lease expiring. If you want to avoid feeling "stuck" in a lease, you can try to mitigate this by opting for shorter terms in your lease contract if available. In addition, some used car leases come with options to either cancel early or swap out into another vehicle early. It's always a good idea to talk through the options in detail with your dealership.
With a Brite used car lease, you have a range of term options and the ability to swap your car before lease-end provided certain conditions are met. You can learn more at a participating CARite dealership.