Rise in car leasing increases amount of used cars on the market
Posted on Wednesday, July 11, 2012 at 6:26:35 PM
If you’re on the market for a used car, consider looking at vehicles that were previously leased. Cars under lease traditionally have fewer miles on them because of contract mile caps included in the ownership agreement. Autos that were previously leased are also typically young and range from two to five years old. All of these characteristics make a leased vehicle a smart investment.
Finding these cars may soon be easier than in the past. Car experts are predicting an increase in lease vehicles on the market due to manufacturers decreasing payments to boost business, The Street reports.
According to The Car Buying Tips Guide, approximately 20 percent of high-end vehicles on the road are leased in a typical year. However, following the recent recession, the percentage dropped to the single digits in late 2008 and most of 2009.
Now, the number of leased vehicles on the market has increased back to normal levels, improving your chance of purchasing one in the near future. Check out available auto financing to see if you can afford a used car.