Your Car Lease Is Worth More than You Think
by Jeremy Bochenek
People checking the prices of used cars online are likely already aware of the hard truth. No matter if you shop for cheap used cars for sale in Atlanta, GA or are walking dealer car lots in Seattle, WA, the prices of used cars today are eye poppingly high. In some cases, highly valued used cars with low miles are nearly the price of brand new cars.
But if you are about to turn in a car lease you may not be aware of this. Nor might you be aware of how you can take advantage of it. For a little extra work you can take advantage of the price of used cars online and in dealerships and take a little of that money for yourself. You might even able to afford one of those cheap new cars for yourself instead of a lease or a used model.
Instead, you could exercise that buyout option and sell that car by owner yourself for a nice profit, or buy it out and keep it for less than buying even the cheapest cars of the same model and mileage are going for. After all if you like your lease vehicle and want to replace it with something similar maybe you should compare how much it would be to just keep what you have. Either way, its worth investigating for yourself just how much money you maybe giving back to the dealership by not looking at keeping the car for yourself.
But if you are about to turn in a car lease you may not be aware of this. Nor might you be aware of how you can take advantage of it. For a little extra work you can take advantage of the price of used cars online and in dealerships and take a little of that money for yourself. You might even able to afford one of those cheap new cars for yourself instead of a lease or a used model.
Flipping Your Lease
How? Most major dealerships when you lease a car you get a purchase option, often estimated at the vehicle is worth after the lease expires. These estimates of even the cheapest cars two or three years ago are much lower than these cars are actually worth today. So if you just turn in your low mileage lease, that dealership supposedly offering cheap used cars for sale in Atlanta, GA is going to turn around and sell it for its true market value, netting them a tidy profit.Instead, you could exercise that buyout option and sell that car by owner yourself for a nice profit, or buy it out and keep it for less than buying even the cheapest cars of the same model and mileage are going for. After all if you like your lease vehicle and want to replace it with something similar maybe you should compare how much it would be to just keep what you have. Either way, its worth investigating for yourself just how much money you maybe giving back to the dealership by not looking at keeping the car for yourself.
