Can You Lease a Certified Pre-Owned Car?

If you’re looking to save some money on your next Queens ride without sacrificing quality or performance power, consider something certified pre-owned! Certified pre-owned (CPO) vehicles are a kind of middle ground between new and traditional used vehicles since they’re pre-owned but have undergone rigorous inspections and have to meet strict quality criteria before being put on the showroom floor. CPO vehicles are also backed by robust warranty plans, while traditional used cars are not. At Bay Ridge Volkswagen, we offer a wide variety of certified pre-owned vehicles that meet Volkswagen’s strict standards. 

If you haven’t driven a CPO vehicle before, you might be wondering: can you lease a certified pre-owned car? Can you finance a certified pre-owned car? The short answer to both of these questions is yes! Depending on your financial situation, you can either finance or lease a CPO vehicle with Bay Ridge Volkswagen. Our finance team has more details in the guide below, so you can stay informed as you search for your next ride. 

Volkswagen Certified Pre-Owned Program

Volkswagen only accepts certified pre-owned vehicles that meet a long list of exacting standards, so you know that when you shop pre-owned, you’re only getting the best! Here are the three key criteria that a Volkswagen must meet to be certified pre-owned:

• Must be model year 2016 or newer, with 75,000 miles or fewer on the odometer
• Must pass 100-point inspection that tests engine, transmission, brakes, steering, cabin amenities, and more
• Must come with a CARFAX Vehicle History Report

Every certified pre-owned Volkswagen also comes with a SiriusXM trial subscription, two years of complimentary 24-hour roadside assistance if you run into trouble on the Staten Island roads and model-specific limited warranty coverage. The Volkswagen CPO warranty coverage only kicks in once the original new vehicle limited warranty (4 years / 50,000 miles) has expired, so you’ll get the benefit of the remaining new vehicle warranty as well! Here are the three warranty plans:

• For model year 2017 and older: 2 year / 24,000 miles 
• For model year 2018 and 2019: 1 year / 12,000 miles 
• For model year 2020 and newer: 2 year / 24,000 miles 

The Leasing & Financing Process

The process of buying or leasing a certified pre-owned vehicle is much the same as if you were shopping for a new vehicle. If you’re interested in upgrading your model every few years, then leasing is probably the way to go. However, if you want your vehicle for the long-term and have plans to eventually own it outright, financing may be the better option. 

If you choose to lease a CPO vehicle, you’ll essentially be paying for the privilege of driving it for a set number of months—usually between 24 and 36, although this is pretty flexible. The amount of money you pay each month is determined not only by the vehicle’s MSRP, but by factors like interest and depreciation. The good news about leasing a CPO vehicle is that it’s likely already gone through the majority of its depreciation, so that amount will be lower than if you’re leasing a new car. At Bay Ridge Volkswagen, we’re committed to getting you the best monthly rate possible, but we’re always open to negotiation, so if you’re asking yourself, “how much can you negotiate off a certified pre-owned car?” the answer is, “quite a bit!” When you lease a CPO vehicle, you’re responsible for keeping within a set mileage limit each month and bringing it in for regular maintenance. 

If you’d prefer to finance a CPO vehicle instead of leasing it, the process is also basically the same as financing a new car, except you’ll be saving money! When financing a vehicle, you’ll work with a lender to receive a loan that you pay back in monthly increments along with interest until you’ve fully paid the value of the car off and own it outright. You can do this with a used or CPO vehicle just as you would with a new car. 

Find an Affordable Pre-Owned Ride at Bay Ridge Volkswagen!

Now that we’ve answered questions like “how much can you negotiate off a certified pre-owned car” and “can you finance a certified pre-owned car,” you might be interested in moving forward with the buying or leasing process! Contact our office to get started, or get pre-approved right from our website. If you want to see how any of our CPO vehicles handle the Bronx roads, stop by our dealership to set up a test drive, and we’ll get you behind the wheel in no time.