Want a Good Deal on a Used Car? Wait Until December
According to the investment and personal finance site The Motley Fool, if you're in the market for a used car, you might want to hold off a few months, because there is a veritable tsunami of cars coming off lease in the next few years. Hang onto what you've got and pick one of the more commonly leased cars, and you may find yourself with a smoking deal. The article, by The Motley Fool's John Rosevear has some logic to back up its prognostication: Back in the doldrums of 2009 and 2010, Americans only bought between 10.5 million and 11.5 million new cars. Of those sold in 2010, only 19 percent were leased. Leased cars are a driving force behind the used car market, because dealerships have a captive audience: Cars need to be maintained and kept to a certain standard, and mileage is kept within strict limits. Fast forward to 2012 and new car sales and leasing started to pick up again, up to 2013 when the country started buying cars at its more normal level of 16 million units. The result is that the used car market -- which only saw about 1.7 million cars coming to the end of their leases in 2013 -- will rise to somewhere between 2.5 million and 3 million cars coming off lease by 2016. So what cars will be particularly good deals as more and more vehicles come off lease? Take a look at three of the most leased vehicles in the marketplace and see if you can find one that fits your BoldRide driving style: Audi A4
Audi CHURNS A4s out on lease, and actually drove the price down to an average of $454 a month.
PHOTOS: More Photos of the 2013 Audi A4
You're not going to find a lot of GTIs with six-speeds coming off lease, but if you're in the market for a TDI wagon, the next year or so might be your best opportunity. Use any dealership's willingness to locate a car to your advantage.
PHOTOS: Full Galleries of the 2011 Volkswagen Jetta TDI
PHOTOS: See Full Galleries of the 2014 BMW X5 Performance Package
We drove an X5 xdrive50 last year, and were blown away by its mid-1990s Ferrari-esque 0-60 times, but maybe not by its ravenous appetite for fuel. Find one coming off lease when the price of gas ticks up a bit and you could score one of the world's greatest SUVs.