![]() ![]() ![]() But because used car prices have been rising so quickly, most buyout values set before 2020 are probably lower than current market prices. To arrive at the buyout price, the dealer applies a formula that estimates how much the car will depreciate over the term of the lease. But lease contracts often include the option to buy the car at a preset price when the lease ends - typically, after two or three years. ![]() With a lease, drivers essentially rent the car for a fixed period - they don’t automatically own it when the lease term is up, as they would when paying off a traditional car loan. But people with leases expiring soon may find they can buy the car they already have at a relative bargain. ![]() Shoppers are finding that getting the car they want, at a price they are willing to pay, has become difficult.
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