Actually this summer will be big for 3 & 4 yr lease returns which are before COVID or before the supply issues. For example between now and September there will be more X7 lease returns than any year prior. My 3yr X7 lease is up, we are buying it out and keeping, there were tons of X7 leases as plenty of deals and supply.
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Originally Posted by tgrundke
Prices on certain used vehicles are definitely declining: anything in the $50k+ space that is a "common" vehicle is improving (3-Series, X3, X5, C-Class, etc.). Most high performance/exotics are retaining their values better than I'd expect.
That said, keep in mind that going into the back half of this year, the number of lease returns coming into the used market will drop significantly, and moving forward, the market will be short several million used cars due to production cuts.
Used car price increases may be moderating/dropping, but don't expect a significant draw-down in prices unless dealers need to sell under duress.
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