1/1/2023 0 Comments Car residual value![]() The dealership appraises it and decides the car is worth $24,000 and we could sell it for $26,000,” says Lori Church, director of compliance for Mount Laurel, New Jersey-based Holman Automotive Group. “Say the contract says the customer payoff is $20,000. ![]() Instead of buying it outright, or meekly turning it in and walking away, lease customers can trade in their leased vehicle and apply the equity-in effect, the profit-from that deal towards another vehicle, experts say. Buying out your lease and selling your car is a good deal right now, but it’s hugely inconvenient and often comes with additional tax penalties.īut there’s a third way to deal with your leased vehicle, either at lease end or in the closing months for your contract. Ordinarily, to sell a leased vehicle outright, a buyer must purchase the vehicle for the amount specified in the lease contract before they can sell it, which sometimes involves taking out another loan. As it happens, lease customers actually can cash in on those high prices, and many people already have, even if they can’t easily sell their vehicles outright. ![]() Leasing a car fundamentally means you can’t just sell it whenever you want, and with used-vehicle prices at record highs and some dealerships nearly out of cars, millions of lease customers are ruefully looking at trade-in values. A little homework in the months before your lease return can yield a significant return toward your next vehicle. ![]() Many lessees aren’t aware that there are ways to take advantage of high used-vehicle prices even if you don’t own your vehicle, but 2021 is a time uniquely suited to cashing in on all late model vehicles, even used ones currently leased. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |