Leasing a used car is riskier than leasing a new car — resulting in fewer places that offer used car leases. CarMax — the largest used car retailer in the U.S. — does not lease cars. To lease a used car, you can either take over an existing lease or work with a local car dealership. For more specifics, see below.
Does CarMax Lease Cars?
CarMax offers several finance options, but leasing a used car isn’t one of them. Leasing a used car has more risks than leasing a new car. The older the car is, the more service issues you’ll likely face. And, if the car is out of warranty, those repairs will cost you. It’s also harder to predict the resale value of a used car at the end of a lease, so you may end up paying too much over the life of the lease, according to an article published by Consumer Reports.
Where to Lease a Used Car
CarMax and its main competitors — AutoNation, Cars.com, Carvana, and Shift — don’t offer leasing options for used cars. To lease a used car, you can either take over an existing lease or work with a local car dealership.
Taking over someone else’s car lease is similar to buying a used car from a private party. You can even use an online exchange site like LeaseTrader.com or Swapalease.com to help you find a used car to lease.
Alternately, you can shop for a used car at a local dealership and ask about lease options. You can search for a local dealer through sites like Autotrader, Edmunds.com, and Kelley Blue Book. Not all dealers will work with you on a used car lease; your best bet is to choose a car with manufacturer financing. Manufacturers that typically offer used car leases include Acura, Audi, BMW, Chrysler (which also finances Dodge, Fiat, and Jeep), Ferrari, Honda, Hyundai, Infiniti, Kia, Lexus, Lincoln, Mazda, Mercedes-Benz, Mini, Mitsubishi, Nissan, Porsche, Toyota, Volkswagen, and Volvo.
CarMax doesn’t lease used cars. To lease a used car, you can take over an existing lease or work with a local used car dealership. For more on CarMax’s store policies, see our articles: Can I Sell My Car to CarMax Without the Title? and Does CarMax Buy Salvage Cars?