Post date: 1/1/2022
Availability and special terms are subject to change.
It’s perfect timing.
All of us continue to feel the impacts of the pandemic, as have hundreds of industries and their supply chains. One outcome is the shortage of inventory for new and used vehicles, which has caused prices to rise steeply.
If you’re leasing a vehicle, consider a buyback.
Consumer Reports shares this information from TrueCar, a firm that tracks the automotive industry: Used car prices were up 35 percent in June of this year (2021) compared with June 2018, when many of the calculations for cars coming off lease now were being made. “There is a strong relationship between buyouts and used prices,” says Nick Woolard, an analyst at TrueCar. “When used prices are weak, more customers walk and let the dealer keep the vehicle.”
The market is uncertain, and experts don’t see any immediate shift. Consequently, a lease buyback makes sense. It lets you keep your current vehicle — with no worry of having to find a new car among limited inventories. Simply call your leasing agent and request a buyback, which will occur at a predetermined buyout price.
Reasons to request a buyback:
MarketWatch reiterates the benefits of a lease buyback in today’s environment:
- You can buy the car for less than it’s worth.
- You like the car and took good care of it.
- You are facing a big punitive assessment.
- You want to avoid the hassle of car shopping.
- New and used car prices are higher.
Turn to us for the financing.
Once you have a buyout price, we can finance the remaining balance. You’ll rest easy with our low rates and keep a vehicle you can count on.