Tips on Buying Cars: Can you lease a used vehicle?, credit unions, residuals

Question
I keep reading about leasing and was wondering if you can lease a used vehicle? How long would you lease it for? What about the mileage?
thanks

Answer
Yes Levi, you can lease a used vehicle. Most banks or Credit Unions do have certain stipulations, ie., mileage, year and your credit. 3 year old vehicles at the most and you should keep the mileage under 10K, more mileage...higher payment.

A good thing to look into is leasing the same year as current, as you can typically get a better residual. The banks set the residuals.

Another thing to remember is that dealers typically don't lease used as they don't know how, and they can make more on a new one. Call an independant.

Good luck.