Was the Car a Leased Vehicle or Ex-Rental?

When shopping for a used car, it’s important to know the vehicle’s history, including whether it was previously leased vehicle or used for another purpose. A vehicle identification number (VIN) check report can provide valuable information about a car’s history, which can help you make an informed decision before making a purchase.

Previously Leased Vehicle

A leased vehicle is one that is owned by a leasing company and is rented out to a driver or business for a set period of time, usually two to four years. During the lease period, the driver or company is responsible for making monthly payments and maintaining the vehicle according to the terms of the lease agreement.

When a lease vehicle period ends, the driver typically returns the car to the leasing company. The leasing company will then inspect the car and may charge the driver for any excess wear and tear or damage that was not repaired.

Why is it Important to Know if a Car was a Previously Leased Vehicle?

Knowing if a car was a previously leased vehicle can provide valuable insights into the vehicle’s overall condition and maintenance history. Because a leased vehicle is typically returned to the leasing company at the end of the lease period, they are often well-maintained and in good condition. If not, then it can cost the lessee for damages to be repaired.

Additionally, a leased vehicle usually has a lower mileage compared to a typical used car, since lease agreements usually limit the amount of miles a driver can put on the car. This can be beneficial if you’re looking for a low-mileage vehicle.

What to Look for in a VIN Check Report

When reviewing a VIN check report, there are several key pieces of information to look for regarding the car’s leasing history.

Lease Vehicle Agreements

The first thing to look for is any information about lease agreements that may have been associated with the car. This section of the report will provide a detailed list of any previous lease agreements that the car may have had.

It’s important to review these agreements carefully to ensure that the car was properly maintained and serviced according to the terms of the lease vehicle agreement. Additionally, it’s important to check if the car was returned at the end of the lease agreement or if the lease was terminated early, which could indicate that there were issues with the car. This may involve sourcing the lease agreements from the leasing company.

Previous Owners

Another important piece of information to look for is the number of previous owners associated with the car. If the car has had multiple owners over a short period of time, this could indicate that the car was previously leased or used for another purpose, such as a rental car.

Rental Cars

A rental car is one that is owned by a rental car company and is rented out to drivers for short periods of time, usually one or two days. Rental cars are often driven by multiple drivers over a short period of time, which can lead to increased wear and tear on the vehicle as well as higher miles on the clock.

Why is it Important to Know if a Car was Used as a Rental Car?

Knowing if a car was previously used as a rental car can provide valuable insights into the vehicle’s overall condition and maintenance history. Rental cars are often driven by multiple drivers over a short period of time, which can lead to increased wear and tear on the vehicle.

Additionally, rental cars are often rented out to drivers who are not familiar with the vehicle, which can increase the risk of accidents or damage to the car. As a result, rental cars may have a higher incidence of accidents and damage compared to a typical used car.

Conclusion

By knowing if a car is a ex lease vehicle can be beneficial because of the extra wear and tear that the car may have had during the lease period. Lower mileage maybe beneficial though, so it’s important to get a VIN check report and look at all of the details around the lease and rental information applicable to the vehicle you’re looking at buying.