Yes, you can, and the margins you can earn by doing it are surprisingly high. While selling a leased car is harder than selling a car with a loan, the post-COVID used car market has prices high enough to get out from under your lease and even turn a profit.
How do I get the most out of my car lease?
Tips That Can Make Leasing More Flexible but Less Expensive
- Save on interest by making multiple security deposits.
- Arrange a one-pay lease to save some cash.
- Extend your lease month to month until you are ready to get your next car.
- Exit a lease early with no penalties.
- Customize the mileage to suit your needs.
Is leasing a car good financially?
Lease payments are almost always lower than loan payments because you’re paying only for the vehicle’s depreciation during the lease term, plus interest charges (called rent charges), taxes, and fees.
What are 3 cons of leasing a car?
Cons of Leasing a Car
- You Don’t Own the Car. The obvious downside to leasing a car is that you don’t own the car at the end of the lease.
- It Might Not Save You Money.
- Leasing Can Be More Complicated than Buying.
- Leased Cars Are Restricted to a Limited Number of Miles.
- Increased Insurance Premiums.