Drivers Whose Lease Is Coming Up May Be In An Unexpectedly Advantageous Position | Carscoops carscoops
, meanwhile, was the best-performing among mainstream vehicles, generating 68 percent more than originally estimated, which amounted to $11,852.
“Unless you’ve driven an exorbitant number of miles or your vehicle has excessive wear and tear, you’re pretty much guaranteed to see an increase in value,” said Ivan Drury, Edmunds’ senior manager of insights. “The one drawback is that you’ll likely have to do a bit more legwork than in the past to take advantage of the equity in your expiring lease given that some auto manufacturers have recently placed more stringent rules on lease purchase options.
In order to leave the smallest amount of money on the table possible, Edmunds recommends taking four steps. First, it recommends finding out exactly how much your payoff amount is, then finding out what your vehicle is worth, after which you should find out if your financing company, and finally you should consider buying the lease out yourself and trying to sell the vehicle for a profit.
A list of the top-performing vehicles is available Edmunds’ website and it also offers vehicle appraisals, though other companies offer the same service.
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