Returning Lessees Should Be Prepared for a Price Shock
While U.S. new vehicle sales are expected to drop in 2019, average transaction prices and interest rates are climbing fast. That spells a potential bad day ahead for drivers reaching the end of their lease, Edmunds warns.
Those looking to get behind the wheel of a new sedan in the coming year might have to spend some quality time with a calculator.
The rise in popularity of leasing after the recession, coupled with a prolonged peak in U.S. sales that began around 2015, means 2019 will see a record number of lessees — 4.3 million — turning in their vehicles.
New features introduced during that time frame, especially safety tech, sent ATPs soaring. It’s an uneven surface, however. As crossovers and SUVs remain an automaker’s bread and butter, the declining passenger car market has many automakers rethinking their “bury it in incentives” strategy. We told you last week that
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- EngineerfromBaja_1990 I'd love a well preserved Mark VII LSC with the HO 5.0 for a weekend cruiser. Its design aged better than both the VI and VIII. Although I'd gladly take the latter as well (quad cam V8 and wrap around interior FTW)
- Teddyc73 The Mark VIII was the first car I lusted over as a young new auto enthusiast. Still think it's a beauty after all these years.
- Art Vandelay wish They’d do an SS version of the Bolt. We need more electric hot hatches and this is a clean enough design that it would look good
- ToolGuy Your Jeep is too studly.
- ToolGuy I had a point to make, but can't remember if it related to Part XXVIIII or Part XXIX.
My Camry lease is up at the end of August and I don't want to buy it out. Should be interesting times for buying or leasing.
So... in an increasing market of CUVs they're soaking buyers, in trucks they're drowning buyers, and now in a declining sedan market the move is soak those buyers too. But wait, despite four years of huge production coming off lease somehow all of those have soaked people too, because supply and demand, what's that? Did I wake up in Bizzaro world?