How to Find Off-Lease Vehicles

Off-lease vehicles (those whose leases have expired) are desirable used cars. They might be as old as five years, but generally are one to three years old. Their mileage is often low to moderate and they're usually in good condition. Also, they're often still under warranty. If you're in the market to buy, there are several places to look for off-lease vehicles.

Instructions

1

Check new-vehicle dealers. They sell used vehicles as well. When someone wants to lease a new vehicle, they get it at new-vehicle dealer. That dealer may purchase the old, now off-lease vehicle, inspect and certify it as being in good condition and then sell it.

2

Ask for off-lease vehicles at used-vehicle dealers. Used-vehicle dealers often buy inventory at auctions, which is where leasing companies often send off-lease cars. Some used-vehicle dealers advertise that they specialize in off-lease vehicles.

3

Buy at an auction, but be careful. You will not be allowed to attend a wholesale dealers' auction. Only dealers can attend those. The auctions you can attend are retail auctions that sell vehicles from many sources, and some of those vehicles are in rough shape. You will also have to pay a premium, usually a percentage of the purchase price, in addition to the purchase price. Be sure to ask how you will get the title to the vehicle. Buyer beware.

4

Buy online. Many websites specialize in selling off-lease vehicles. Read their agreements and other information carefully. How will you get the title? How will the vehicle be delivered to you? Is the condition guaranteed? Is there a way to preview the vehicle?

5

Buy through a website that posts vehicles that are not quite off-lease yet, but will be soon. These vehicles are posted by people who want to get out of a lease and will let you take over the payments. Sometimes they will even pay you an incentive to do so. You will have to be approved by the leasing company to do this, but once all the payments are made, you can buy it outright directly from the leasing company in the same manner as any other person who has leased a vehicle. As above, do your homework: ask questions.