Getting a vehicle on lease is an attractive option of enjoying the luxury of driving Mercedes, BMW or even more popular vehicles like Toyota and Honda at a price lesser then the EMI of a new vehicle. But used car leases may be a little dicey then that of a brand new vehicle because of the following reasons:

The manufactures suggested retail price of the used vehicle is not known and therefore it become tough to find out the actual value of the car.

The best way to estimate the correct value of the car would be to find the lease value of the new car of the same make and model and come to a pricing taking into account the mileage and condition of the car.

You need to check during used car leases whether the car warranty has expired . If yes , then you need to pay extra to use the car

Also used car leases doesn’t take into account gap coverage which insures the car against damages, accidents and also if the vehicle is stolen.

All these factors should be given due considerations before opting for used car leases.