Leased Cars – Bad for You Bad and Detroit
The Leased Car – the only way many can drive a “new” SUV or higher end vehicle every 3 to 4 years and keep a payment in the $350 range. For many households “leasing autos” may be coming to an end.
The increased fuel cost or flat out operating cost continues to drive the resale value of these vehicles down when the lease ends. This in turn makes these “leased values” less attractive when the lease term is up, forcing leasing companies to reevaluate their position.
The financing arm of the Big 3 Detroit auto makers (Ford, GM and Chrysler) find themselves “cutting back” or suspending leasing deals on trucks, sport-utility and other vehicles.
Face it these auto finance companies crunched the numbers… the data tells them “auto leasing” is not profitable. This should send a signal to the consumer. If leasing is such a “good deal” for you how come these companies are packing their bags and leaving the leasing market?
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