For some, buying a new car is not financially possible. Even if the purchase price is in the budget, many find the idea of losing money in resale value the moment the car leaves the lot to be distasteful. One alternative to buying a new car is purchasing a program, or lease return, vehicle.
Program Cars are Almost New
Most lease programs are designed to expire after two or three years, making the vehicle almost new when compared to other used options on the market. Lease contracts include mileage limits and penalties for interior and exterior damage, making a vehicle coming off a lease in very good condition. In the first two years, most vehicles are covered by factory warranties and are regularly serviced at the dealership. A car coming off a lease is well maintained for this reason.
Better Prices on Program Cars
A dealership receives money for a leased vehicle for the duration of the contract. Then, when the vehicle is returned, the dealer can sell the car again. Because a large amount of money has already been generated by the car through the lease program, the dealer does not have high margins to meet on the resale of the vehicle. This means the car can be purchased for less money than on the open market, passing savings on to you.
Finding a Program Car is Easy
Many dealerships lease cars when new and then also sell them when they are returned. To find a program car, one only needs to make a trip to the dealership which sells that model as a new car. This convenience has the benefit of the car being at the dealership which most likely performed the maintenance on the vehicle and brokered the original lease. Buying a car directly from the dealer can result in purchasing a nearly new car, with no damage, at a reasonable price.