Big Bargains on Lease Returns

By on

Thanks to the faltering economy and high gas prices, banks and auto makers have lost billions because gas-guzzling SUVs, trucks and luxury cars aren’t selling for even close to their residual values. But their problem is your opportunity.

“…For instance, a chevy suburban you might have leased four years ago probably had an initial price approaching $50-thousand dollars and the value, the residual value at the end was probably estimated to be about 40% of that value…The value now may be as little as 25% of that…So that’s where you have the room to negotiate.” -Terry Jackson, Bankrate.com Automotive Columnist

And if the lease is up on your economy car, you might be able to buy it at residual and sell at a profit! Especially for a car like a Prius.

“I’d say definitely buy that car and resell it because a lot of used Prius are because of the fuel economy involved or whatever are actually selling for more than a new one.” -Terry Jackson, Bankrate.com Automotive Columnist

Bottom line? There’s unprecedented volatility in used car values right now. So if your lease is about to end, check out prices. You might find yourself driving a hard bargain.

Sign up for our free newsletter

Like this article? Sign up for our newsletter and we'll send you a regular digest of our newest stories, full of money saving tips and advice, free! We'll also email you a PDF of Stacy Johnson's "205 Ways to Save Money" as soon as you've subscribed. It's full of great tips that'll help you save a ton of extra cash. It doesn't cost a dime, so why wait? Click here to sign up now.

Check out our hottest deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,258 more deals!

Comments & discussion

We welcome your opinions, but let’s keep it civil. Like many businesses, we reserve the right to refuse service to anyone. In our case, that means those who communicate by name-calling, racism, using words designed to hurt others or generally acting like an uninformed bully. Also, comments that include links to email addresses or commercial websites typically aren't posted. This isn't a place to advertise your business.

  • timada

    Sounds good!