A family member was coming to the end of a three-year lease. She wanted to get a new car.
There are no new cars.
So, she bought her existing car out of lease.
Of course, the purchase price was based on lease documents written three years ago.
The instant she signed the papers, the retail value of the car jumped 76%.
After 48,000 miles, this used car is worth more now than the agreed value written on the lease, when the car was new.
It’s hard to watch.