Saturday, October 31, 2009

Is it possible to lease an old car (10 years old)? If so, what institutions provide the financing?

There are companies that lease used cars, but 10 years old is beyond any lease company I%26#039;ve ever used. Typically the oldest they will lease is 3 model years old. There is no real adavantage to leasing a car that old. One of the main benefits of a lease is that you don%26#039;t pay for the depreciation - in a car that old, 80%+ of the depreciation is already gone! If you are looking for the tax benefits of leasing, you will just have to bite the bullet and lease a new(er) vehicle. If there is any other reason, update your question and I will re-advise.



Good luck



Is it possible to lease an old car (10 years old)? If so, what institutions provide the financing?

It is not possible. Leasing companies need to be able to re-coup their money after the lease is up.



Is it possible to lease an old car (10 years old)? If so, what institutions provide the financing?

Leasing autos is basically nothing more than you, the driver, agreeing to pay part of what the vehicle is worth over a set time period and than returning the car to the lease company for them sell it for the remainder of it%26#039;s value. Unfortunately, unless you are talking about a very special type of automobile, the value of a car after 10 years makes leasing an unrealistic option. If I am reading in to your question correctly, you are looking for the lowest monthly payment available, though I don%26#039;t recommend it, on New and very few Used cars, you do have the option of financing for 72 and/or 84 months. Again, I really don%26#039;t recommend this.

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