Hi! New leasehackr here. I’ve heard that you can make money from leasing but that doesn’t make sense to me. The situation that was described is that they leased the car, then sold it back for more than they put into it. I think there was also a short video about it on the lease on the Leasehackr 101 page
It doesn’t make sense to me as you don’t own the car at the end of the lease so how can you sell it? I’m also thinking about getting a bolt and driving it for 10yrs+ as EV’s are on the up-n-up.
Literally the opposite. EVs depreciate the fastest and its unlikely you’ll ever have equity in one. If you want a bolt or any EV, lease it and give it back
For the most part, if not entirely, those days are in the past. Lots of folks here, including myself, leased vehicles and immediately sold to other dealers/brokers for more than the lease buyout, but that was largely back when the car market was crazy. Now, it may be possible on rare and hot vehicles, as has always been the case, but I have no idea what those are this week, if any.
If you leased a Toyota/Lexus in 2021 then yea you got some equity. Even the hellcats of 2022 that sold last summer. If you are reading the Jeep mania that people pulled of here with the 4xe then that is no more. Ship has sailed as car prices leveled off, look at the Cybertruck values… The process was simple, 3rd party dealer would offer you money and if that offer was higher then your buyout then they’d cut 2 checks; 1 to the bank for the payoff so that they get the title lien free and 2nd check to you for the difference. Dealers are tax exempt.
What is the reason for Toyota or Lexus leases from 2021 having equity today?
TFS calculated the residual value for their cars well below market. Thus your payments may be higher as a result but when the lease is up, your buyout can be lower than market value, and you can make some coin.
Aernt you kind of breaking even though because the monthly was higher?
I have managed to do this twice. I played the market right on a model y performance demo lease from around $58k and sold it 6 mos later for $65k. I also did this on a jeep demo lease and was able to sell almost a year sooner and get more than I owed. It seems these days it is much more difficult to do so!
Because they historically hold their value very well.
Google total cost of ownership lease vs purchase
Or spend some time reading LH posts and start learning