Used car prices have risen dramatically with the coronavirus pandemic. More people feel like they need a car, and many of those that are buying have more disposable income to spend on cars; meanwhile, car companies are struggling to meet the demand for new vehicles due to the chip shortage.
If you have a car lease about to end, this trend could work to your advantage. An iSeeCars.com study found that the average three-year-old car coming off a lease is worth 31% — or $7,019 — more right now than the expected residual value. In theory, that means you could take the lower buy option in your lease agreement and then flip the car for a profit.
Here are the 15 cars that should generate the highest profit.
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1. VW Tiguan
Increase in Value Over Predicted Value, in Dollars: $8,677
Increase in Value Over Predicted Value, in Percent: 61.3%
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2. Dodge Charger
Increase in Value Over Predicted Value, in Dollars: $11,806
Increase in Value Over Predicted Value, in Percent: 55.9%
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3. Chevrolet Camaro
Increase in Value Over Predicted Value, in Dollars: $12,346
Increase in Value Over Predicted Value, in Percent: 52.9%
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4. Nissan Altima
Increase in Value Over Predicted Value, in Dollars: $6,228
Increase in Value Over Predicted Value, in Percent: 49.4%
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5. Volkswagen Passat
Increase in Value Over Predicted Value, in Dollars: $6,400
Increase in Value Over Predicted Value, in Percent: 49.3%
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6. Chrysler 300
Increase in Value Over Predicted Value, in Dollars: $8,084
Increase in Value Over Predicted Value, in Percent: 49.2%
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7. Nissan Leaf
Increase in Value Over Predicted Value, in Dollars: $6,167
Increase in Value Over Predicted Value, in Percent: 48.3%
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8. Chevrolet Malibu
Increase in Value Over Predicted Value, in Dollars: $6,392
Increase in Value Over Predicted Value, in Percent: 48.2%
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9. Hyundai Elantra
Increase in Value Over Predicted Value, in Dollars: $5,319
Increase in Value Over Predicted Value, in Percent: 47.9%
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10. Mazda 6
Increase in Value Over Predicted Value, in Dollars: $7,193
Increase in Value Over Predicted Value, in Percent: 46.8%
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11. Kia Forte
Increase in Value Over Predicted Value, in Dollars: $4,913
Increase in Value Over Predicted Value, in Percent: 46.7%
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12. Jeep Compass
Increase in Value Over Predicted Value, in Dollars: $7,163
Increase in Value Over Predicted Value, in Percent: 46.4%
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13. Jeep Cherokee
Increase in Value Over Predicted Value, in Dollars: $7,418
Increase in Value Over Predicted Value, in Percent: 46.3%
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14. Nissan Versa
Increase in Value Over Predicted Value, in Dollars: $3,961
Increase in Value Over Predicted Value, in Percent: 46.1%
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15. Ford Expedition
Increase in Value Over Predicted Value, in Dollars: $15,830
Increase in Value Over Predicted Value, in Percent: 45.8%
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The 16 Best Cars to Buy in 2021
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Tue Aug 24 , 2021
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