Chevy Camaro Lessees Should Buy Back Their Car And Sell It For Profit
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The used car market is soaring right now, with record-high used car prices spurred on by the ongoing global microchip shortage and COVID-19 pandemic. Interestingly, lessees can take advantage of the current market conditions by purchasing their vehicle at the end of the lease term and selling it for profit. As it just so happens, the Chevy Camaro is one of the vehicles that could potentially offer the highest profit using this strategy.
According to a recent report from online automotive search engine and research website iSeeCars, the Chevy Camaro ranked third on the organization’s list of Lease Cars to Buy Back and Sell for the Highest Profit. According to iSeeCars, the Chevy Camaro offers a 52.9 percent market value increase over predicted value, equating to a very healthy $12,346 in profit. At the top of the list is the Volkswagen Tiguan with a 61.3 percent increase, or $8,677, while the Dodge Charger was second at 55.9 percent and $11,806.
“Sports and muscle cars saw a surge in popularity during the pandemic as buyers sought fun cars to combat boredom, and the Camaro was among the used cars with the highest price increases over last year,” said iSeeCars Executive Analyst, Karl Brauer.
Beyond the Chevy Camaro, the iSeeCars list also includes another General Motors vehicle, namely the Chevy Malibu. The Malibu slots in at eighth on the list with a 48.2-percent increase in market value over predicted value, or $6,392.
The iSeeCars list is based on an analysis of nearly 10 million car sales. Per the analysis, the average 3-year-old used car is worth 31.5 percent more than its residual value estimate made at the beginning of the leasing term, an increase of $7,019. The iSeeCars analysis took into account three-year residual values for new cars from 2018, comparing these values to current used car prices for 3-year-old cars to determine which models represented the highest percentage market value increase over the the predicted value.
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Source: iSeeCars
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I very much wanted to lease a 2021 Camaro LT1(V8) automatic for the $287 a month when first offered a while back. No vehicles to be found that fit exact trim to lease offer . Chevy continued to offer same the next month and guess what. No cars. I’m talking inventory search as far away as 500 miles.
So as far as someone finding such car, leasing it, buying out the lease and then flipping it for big profit- B.S.
They’re talking about people that already currently have a leased vehicle, if you look at the source website, specifically 3 year old vehicles.
Yep very hard to find and any options on them above the spec means the dealer finds an excuse to offer a different price. I ended up at $400 a month for an LT1 with a load of options, YOLO…
I tried to buy a 3 year old Dodge Charger for my daughter. Well fuggettaboutit. The $30k it would of cost me went to a brand new 2021 Equinox Premier.
I recently traded my 2020 Camaro 9000 mile 1SS in June on a 2021 Camaro LT1. Vroom offered me $43K but for convenience I took the dealership offer of $40K which was what CarMax and Carvana were offering at the time.
Which do you like best ? Autos or manuals ?
I have a 2018 Camaro SS convertible with 19000 miles. My dealer offered me 1000 less for what I paid. It’s a great car with no issues, I am going to keep it. In fact I just purchased a GM extended warranty 4 years or 40000 miles….
I wish that Chevrolet would of made a Camaro all wheel drive with a drop top. I WOULD of bought one in a heart ❤ beat 💓.
My all time favorite of mine was a 1970 Pontiac GTO with the 400 in her. GOLD WITH A BLACK Vinyl top. I bought her new or my dad did for me as a graduation gift from collage. Then it was on to Vietnam for 2 years. Made me appreciate home and the USA and our problems weren’t so damn bad after all.