Returning Lessees Face Sticker Shock Featured

By Staff Writer March 08, 2019 500

The record 4.3 million consumers who will be turning in leased vehicles this year will be in for sticker shock when they return to the dealership, according to new analysis from Edmunds.

Consumers who are leasing some of the most popular vehicles and want to lease the same vehicle again will find themselves paying as much as 26 percent more than they did in 2016, and more than $1,600 over the life of the lease on average. Record-high vehicle prices, weakening residuals and rising interest rates are mostly the cause for the increases.

Edmunds analyzed the most popular vehicles leased in the U.S. to find the most pronounced hikes in lease costs now compared to 2016, looking at identical models and trim levels. The Toyota Camry SE had the biggest spike, costing $2,834 more on average over the course of a 36-month lease ― a 26 percent increase.

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Last modified on Monday, 18 March 2019 18:11