Is there hidden cash parked right in your driveway?
If you’ve got a car lease that’s set to expire in a few months, a red hot used car market means you need to pay extra close attention to the value of your vehicle.
You might want to make a move more quickly than you’d expect — and you might not necessarily want to opt for business as usual and just return the car to the dealer when the lease ends.
Used car values skyrocketed as a result of the unusual twists and turns in the economy during the COVID-19 pandemic, particularly for some high end trucks. Essentially, a shortage of new cars — thanks to cuts in production in the early days of the virus — drove up the values of used cars.
Your car or truck could be worth more than the buyout price that’s listed on your