The WSJ has a good article on how the leasing market diminished over the past couple of years due to supply shortages.
“The cycle is definitely out of cycle,” said Jaycie Dane, general manager of sales operations for Toyota Motor Corp.’s Lexus division in North America. Leases accounted for 20%-25% of Lexus sales in recent months, compared with prepandemic highs of around 40%, she said. “It’ll be a rocky road for a few years.”
'“If you buy it or if you lease it, your prices are pretty similar,” said Ryan DeNooyer, general manager of Kalamazoo, Mich., dealership chain DeNooyer Automotive. About 20% of his customers leased vehicles in recent months, compared with 45% before the pandemic.'
The knock on effect is going to be a dearth of used cars in 2-3 years because buyers who financed hold on to their cars for a longer period of time.
Basically don't wait around for "good deals" on used cars for the foreseeable future.
“The cycle is definitely out of cycle,” said Jaycie Dane, general manager of sales operations for Toyota Motor Corp.’s Lexus division in North America. Leases accounted for 20%-25% of Lexus sales in recent months, compared with prepandemic highs of around 40%, she said. “It’ll be a rocky road for a few years.”
'“If you buy it or if you lease it, your prices are pretty similar,” said Ryan DeNooyer, general manager of Kalamazoo, Mich., dealership chain DeNooyer Automotive. About 20% of his customers leased vehicles in recent months, compared with 45% before the pandemic.'
The knock on effect is going to be a dearth of used cars in 2-3 years because buyers who financed hold on to their cars for a longer period of time.
Basically don't wait around for "good deals" on used cars for the foreseeable future.