As the end of summer nears and dealers discount their 2016 cars to make room for next year’s models, shoppers who want to lease could find some hidden bargains. The key is to understand— and maximize—two little-understood aspects of leasing.
It all comes down to finding cars with high resale value and then negotiating a low purchase price. “This is what I like to call ‘the leasing window,’’’ says Scot Hall, executive vice president of WantaLease, which posts leasing bargains.
Michael Sin, co-creator of Leasehackr.com, adds, “People don’t know about it, but there are many underappreciated cars you can lease at bargain prices.’’ The forums on his site are filled with shoppers exchanging details of leasing deals.
The popularity of leasing has shot up to a historic high: 31 percent of all new cars driven off the lot are now leased, according to data from financial services firm Experian. Even used cars are being leased, although Experian says it’s only at 3.98 percent. Meanwhile, Edmunds data show trucks and SUVs to be the fastest-growing vehicle segment for leasing.