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What Are the Pros and Cons of Buying an Off-Lease Car?

Dec 10, 2021
buying an off lease car

Last year’s unprecedented pandemic caused a major halt in the production of cars. As the world continues to recover from the events of 2020 and auto travel resumes, brand-new cars feel almost as elusive as Bigfoot.


The vehicle supply shortage is causing many people to turn to used cars. Pre-owned vehicles can range from gently used, low-milage vehicles to accident-involved clunkers with very little life left in them.


If you’re looking for a quality used car, you might consider purchasing an off-lease vehicle. As the name implies, an off-lease vehicle is a ready-to-purchase car that has just come off a lease. Since there are many advantages to owning an off-lease vehicle, you may decide that you’re better off purchasing one than waiting around for a brand-new car.


Benefits of Off-Lease Cars


Good Value for Money


New cars depreciate at a rapid and much faster pace than pre-owned vehicles. Most brand-new cars lose 20 percent of their value within the first year of ownership. A typical vehicle-leasing contract lasts two to four years, making off-lease cars still relatively new but a lot less expensive than their unused counterparts.


Low Mileage


Leasing a car comes with many restrictions, such as a yearly mileage limit. Typically, people who drive leased cars cannot exceed 12,000 miles per year. If they go over this number, they incur excess mile charges. Since most drivers don’t want to pay additional costs, they adhere to the limit. This means that your off-lease vehicle will most likely have low mileage, allowing you to drive your vehicle for a long time.


Warranty


If the used car was leased for less than three years, it may come with a manufacturer’s warranty. The warranty expires either when a car hits the three-year mark or accumulates 36,000 miles (whichever is first).


Good Condition


Since most lease agreements require the car be returned to the dealership in top-notch condition, the lessee will most likely take diligent care of the vehicle. This includes keeping the car clean, smoke-free and up to date on oil changes and other maintenance requirements.


Risks of Off-Lease Cars


It many cases the advantages of buying an off-lease car outweigh potential risks. However, there are some potential disadvantages to owning an off-lease vehicle.


Just like any other used car, an off-lease vehicle may have been involved in an accident, or maybe the previous owner smoked in the car and the foul smell still lingers in the interior. It’s possible an off-lease vehicle can be plagued with the same risks as other pre-owned vehicles, but generally they’re more likely to be well cared for.


How to Buy a High-Quality Off-Lease Car


Before purchasing your car, study the Carfax report. These reports are a rich source of information and will give you insight into who owned the car (person or business), the actual mileage and whether the vehicle was involved in any accidents.


However, the Carfax report won’t give you all the information you need. Keep in mind that accidents not reported to the police or an insurance company will not show up on the report.


Consider purchasing a Certified Pre-Owned (CPO) off-lease vehicle. CPO cars are gently used, low-mileage vehicles that come with a warranty. When you get a CPO-labeled vehicle, you can rest assured that your car has passed safety inspections and that any issues (mechanical or cosmetic) have been fixed.


Get a Quality Off-Lease Car from Direct Car Buying



If you’re looking for a pre-owned vehicle but are not sure where to start, check Direct Car Buying’s inventory. You can schedule a test drive directly from our inventory page, making it easy to streamline your car shopping experience.  


If you’re in Maryland, Virginia or the DMV, call us at 877-927-6093 to schedule a viewing or test drive of your preferred vehicle.

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