How to find the best used car leasing deals

Finding a great deal on a used car lease can be a challenge, especially when deals come and go. With a range of options available, how do you ensure you’re getting the best second-hand car lease? 

The key to securing the best used lease deal is knowing where to look, what to check for, and how to avoid common pitfalls. 

Whether you’re leasing for personal or business use, this guide will walk you through every step of the process.  

Used car leasing, also known as second-hand car leasing, follows the same principles as new car leasing. You essentially rent the car for a set period of time (typically between 2-4 years) and return the car at the end of the contract. 

The benefits of used car leasing include: 

• Lower costs - Used lease cars are significantly cheaper than new cars, as they’ve already undergone the majority of their depreciation. 
• Fixed monthly payments - You’ll pay an initial deposit and fixed rentals for the duration of the contract, helping you with budgeting. 
• No depreciation worries - At the end of your contract, you simply hand the car back to the finance provider without worrying about resale value. 
• Flexible contracts - Choose a lease length and mileage that suits your lifestyle. 
• Premium options - Used car leasing allows you to get behind the wheel of a higher-spec car for a fraction of the price if it was new. 

For more information, check out our used car leasing page, or watch the video below:  

A used lease contract is a legally binding agreement, so before you agree to anything, it’s crucial that you do thorough research. It’s your responsibility to fully understand the contract you’re entering into, therefore, it’s worth setting some time aside to understand the intricacies. 

Here’s the key factors to consider when taking out a second-hand lease deal: 

Age, Mileage, Condition

Used lease cars come in a variety of different conditions. Look for a car with relatively low mileage and minimal wear and tear to get the best value for money. Older vehicles with higher mileage will come with increased maintenance risks, so ensure you’ve considered this. 

Your leasing consultant will have all this information to hand. If you’re curious, ask them for help and they will point you in the right direction. 

All second-hand lease cars arranged with Nationwide Vehicle Contracts are less than five years old and have no more than 50,000 miles on the clock. 

Lease terms & fees 

Ensure you read the lease agreement carefully to ensure it’s all to your liking and there are no hidden fees. Once you’ve done this, calculate the total cost of the lease and set out your budgeting plan to ensure you can afford the car. 

Pay attention to: 

• Initial payment
• Monthly rentals
• Excess mileage charges
• End-of-lease fees (such as wear and tear)

Reliability is king 

A used car lease could be up to seven years old by the end of your contract and choosing a model with a strong reliability track record is essential. 

You can’t go wrong with brands that repeatedly rank highly in reliability surveys such as Kia, and it comes as no surprise that this resonates with our customers, with Kia counting for 30% of our used car lease deals. 

All used car lease deals provided by Nationwide Vehicle Contracts are sourced exclusively from industry-leading vehicle funders, ensuring peace of mind. 

Technology & features 

While leasing a used car won’t bring the latest cutting-edge technology, a lot of used cars still offer plenty of advanced features such as: 

• Apple CarPlay/Android Auto 
• Adaptive cruise control 
• Parking sensors and reversing cameras 
• Advanced safety systems

We’d recommend paying particular attention to advanced safety systems and look out for features such as lane departure warnings, automatic emergency braking, blind-spot monitoring, and collision avoidance technology. 

While not essential to road safety, these features go a long way in reducing accident risks and enhancing driver confidence. 

Many modern used cars retain high-end safety technology, so be sure to check the car’s specifications carefully to ensure it meets your needs. We’d recommend considering manufacturers such as Audi, BMW, Tesla, and Mercedes-Benz. 

Consider an electric car

Driving an electric car doesn’t have to be limited to the new car market. Thanks to rapid developments in EV battery technology, they are now an attractive option in the used car market. 

• Improved battery longevity - While all batteries degrade over time, modern EV batteries are designed to last much longer. Technological advancements have significantly slowed down degradation, meaning strong battery efficiency for several years. 
• Extended battery warranties - Most EV manufacturers provide long battery warranties, often up to eight years or 100,000 miles, meaning your entire lease period may be covered. 
• Lower running costs - If you’re looking to properly budget, EVs are cheaper to run and maintain than petrol or diesel cars. 
• Growing used EV market - As more people switch to electric, the availability of used EVs is increasing. 

Compare leasing providers 

Not all leasing brokers offer the same deals. They’ll each have their own relationships with manufacturers and finance providers and thus, will offer different deals. We recommend comparing prices across multiple providers to get the best rates and terms. 

Found a couple of our deals that you like? Add them to our comparison tool so you can compare what’s best for you. 

Check stock availability frequently 

The used car market is subject to stock availability and deals move quickly. If you find a deal that fits your criteria (after doing your thorough research), don’t wait too long to act. 

Consider a shorter lease term 

Used car leasing offers a lot of flexibility and you can use this to your advantage if you’re unsure about committing to a particular car for a longer period. 

A shorter lease (such as 24 months) might be to your liking. 

Understanding contract options 

Used car leasing with Nationwide Vehicle Contracts is available on both Personal Contract Hire (PCH) and Business Contract Hire (BCH) agreements. 

This type of contract doesn’t give you the option to purchase the car at the end of the agreement, unlike a Personal Contract Purchase (PCP) or Personal Lease Purchase.  

With a PCH and BCH agreement, you lease the car for a fixed term, and once your contract has expired, return the used car to the finance provider. 

While leasing a used car offers plenty of benefits, there are some common pitfalls you should avoid: 

• Underestimating mileage needs - All used car lease agreements come with mileage limits, and exceeding them can result in penalties at the end of your contract. Choose a realistic mileage allowance based on your driving habits. It’s better to go too big than too small. 
• Ignoring the total cost - Don’t just focus on the monthly rental. Factor in the initial payment, admin fees, and any optional maintenance packages. 
• Not reading your contract - Read your contract terms and conditions in detail to understand any additional fees, wear and tear policies, and end-of-lease conditions. 
• Settling for the first deal you see - Be sure to look beyond the first deal you see, there might be better offers out there. Used car leasing is a big decision, so ensure you’ve got it right. 

Looking for a great used car lease deal? Nationwide Vehicle Contracts is one of the UK's largest leasing brokers, working exclusively with industry-leading funders to source the best used car lease deals. 

If you're looking to get behind the wheel of a used car, browse our used car leasing deals or call us on 0345 811 9595. 

For more helpful used car leasing tips, check out our full range of used car leasing guides.