Is it possible to lease a used car?

ginashamz

Can someone please clarify whether it is possible to lease a car that is a 65 plate (so out of manufacturers warranty) or do lease companies only lease new cars that are within the manufacturer's three year warranty?


Although it maybe obvious, by lease I mean the lease company is responsible for maintenance, repairs, possibly insurance, tax and so forth. I am not referring to any sort of PCP or car loan.


I am asking because my brother in-law recently got a 65 plate BMW 320d and says that he has it on a 1 year lease. I am sceptical because the car is out of warranty, has mix matched tyres and only 22k miles on a clock. Surely no lease company would offer such a car?

wymondham

Yes there are companies that lease older cars - unusual, but there are some. The lease company is not usually responsible for maintenance, repairs or insurance - just usually tax - unless you opt for extra cover on maintenance (for tyres etc).

ginashamz

Lease cars should be covered for repairs even out of manufacturers warranty and tyres too. They are essentially rented cars

Indout96

Does he mean PCP ? my Volvo is PCP but was 4 years old when I got it.

ginashamz

No, he said lease, for 1 year

wgl2014

ginashamz wrote: »

Lease cars should be covered for repairs even out of manufacturers warranty and tyres too. They are essentially rented cars

What makes you think that?

Most leases don't include tyres or maintenance. If the lease is on a car out of warranty then the person leasing is responsible for keeping it in good working order, if that means paying for repairs then so be it.

There may be some company out there who will lease a used car and cover all the upkeep however I wouldn't expect it to be cheap.

Mercdriver

ginashamz wrote: »

Lease cars should be covered for repairs even out of manufacturers warranty and tyres too. They are essentially rented cars

How to really demonstrate how modest your knowledge is.

Maintenance is always extra. I wouldn't lease a car outside the warranty period without a maintenance plan. For this reason you have to be careful with 48 month leases.

A long term rental from the likes of Avis might be different, but the big names don't usually have a car on their books outside the warranty period.

ginashamz

Okay, I put my hands up. I'm still dubious because I loaned my sister and her brother in law money for them to purchase a car with the agreement that they will lease one for a year. Next thing you know they have a '15 plate BMW 320d M Sport.

a.turner

ginashamz wrote: »

Okay, I put my hands up. I'm still dubious because I loaned my sister and her brother in law money for them to purchase a car with the agreement that they will lease one for a year. Next thing you know they have a '15 plate BMW 320d M Sport.

Good choice they've made.

LandyAndy

ginashamz wrote: »

Okay, I put my hands up. I'm still dubious because I loaned my sister and her brother in law money for them to purchase a car with the agreement that they will lease one for a year. Next thing you know they have a '15 plate BMW 320d M Sport.

Which is it?

Did you tell them what sort of car they could get?

ginashamz

LandyAndy wrote: »

Which is it?

Did you tell them what sort of car they could get?

I meant lease for 1 year, not purchase.

We had a brief discussion about the sort of cars they would like and it was something medium/small sized, economical and petrol. I went to a large car dealer with them and the sort of cars we had looked at were the likes of Toyota Auris hybrid, Ford Focus, Hyundai i30, Suzuki Swift.
I feel a little cheated because they got a car that's diesel (their maximum mileage would be 12,000 a year), a car that could be expensive to repair and/or lease than the cars we had discussed.