Skip to main content

Here’s Some Good News If You Want To Buy A New-ish Used Car

By

Are you going to be in the market for a car in the near future? If you can accept “new for you” instead of “new” and you don’t have your heart set on a truck or SUV, you may be in luck: Used car dealers are about to find themselves awash in 3- and 4-year-old vehicles.

Why? Because after the last recession, leasing a new vehicle became more popular as manufacturers offered deals and customers shied away from traditional auto loans. As that first major wave of leases expires, these low-mileage cars are being turned back in and going out onto dealer lots.

How many? For an example, the The Associated Press points to Infiniti, Nissan’s luxury sibling brand. In 2014, the brand leased 28,000 Q50 model sedans at low prices, which was more than 75% of the Q50s produced. Since the typical lease for these cars is three years, many of those 28,000 vehicles will be up for sale as used cars. And that’s just one model from one car company.

This all seemed like a good idea at the time, because sedans were holding their value pretty well three years ago. Automakers could collect lease payments for a few years, then turn around and re-sell the vehicle as “certified” to another buyer interested in a new-ish car.

Toyota put the brakes on low-price leasing in 2015, but other automakers didn’t see the leasepocalypse coming until the beginning of 2017. That means that it will still have lots of returned Yarises, Priuses, and Camrys to unload.

“It’s more difficult to get rid of them,” the CEO of Toyota North America told the AP. “You’re going to have very attractive certified used passenger car payments relative to new passenger cars.”

Now, though, car shoppers are more interested in trucks or SUVs thanks to low gas prices, and experts predict that you’ll will be able to get great deals on other kinds of off-lease vehicles in the coming years. If you want a lease on a sedan, those may become more expensive if automakers and dealerships can stifle their impulse to compete with each other.


by Laura Northrup via Consumerist

Comments

Post a Comment

Popular posts from this blog

Chrysler Deletes Its Dating Apps, Decides To Remain Single For Now

By
They say you can’t have a healthy relationship until you’re happy with yourself. That appears to be the new mantra for Fiat Chrysler: After several attempts to woo General Motors and more recently Volkswagen , the carmaker’s top executive says he plans to ditch his lovelorn ways to concentrate on his company’s bottom line.  Bloomberg reports that CEO Sergio Marchionne has turned his focus to eliminating FCA’s debt rather than eliminating its single status. Marchionne has set a goal of erasing FCA’s debt by 2019, the same year he’s set to retire. To do that, he says the company needs to do a little work on itself. “We need to be very careful that we don’t start unrealistic dreams about consolidation as we are on our way to achieve historically important results and a debt-free position,” Marchionne told investors at the carmaker’s annual meeting in Amsterdam, as reported by Bloomberg. “We are not at a point of time to discuss any alliance.” Yes, you heard that right: The man w...
Post a Comment
Read more

Study Claims 43% Of “Wild” Salmon In Stores & Restaurants Isn’t Wild At All

By
That wild salmon entrée calling to you from the menu at dinner might not be all it’s advertised. In fact a new study released Wednesday found evidence of mislabeling in nearly half of all salmon sold in restaurants and grocery stores.  The study [ PDF ] from international environmental advocacy group, Oceana, analyzed 82 salmon samples from restaurants and grocery stores, finding that 43% of the products were mislabeled. DNA testing confirmed that 69% of the mislabeled product consisted of farmed Atlantic salmon being sold as wild-caught product. According to the report, consumers satisfying their salmon craving in restaurants are misled about 67% of the time, while those who buy their seafood in a grocery store are misled 20% of the time. “Americans might love salmon, but as our study reveals, they may be falling victim to a bait and switch,” Beth Lowell, senior campaign director at Oceana, said . “When consumers opt for wild-caught U.S. salmon, they don’t expect to get a far...
Post a Comment
Read more

Introduction to Biology (IX Biology Notes Chapter 01)

By
Science: Our universe operates under certain principles. For understanding of these principles, the experiments are done and observations are made; on the basis of which logical conclusions are drawn. Such a study is called "Science". In brief science is the knowledge based on experiments and observations. Biology: The Scientific study of living organisms is called Biology. The word biology is derived from two Greek words "bios" meaning life and "logos" meaning thought, discourse, reasoning or study. It means that all aspects of life and every type of living organism are discussed in biology. Branches of Biology: Biology is divided into following branches: Morphology The study of form and structure of living organisms is called morphology. It can be further divided into following two parts: 1. The study of external parts of living organism is called external morphology. 2. The study of internal parts of living organism is calle...
Post a Comment
Read more