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Difference in Price - New vs. Used Lease

All the talk in auto leasing lately centers around used lease options. Toyota and Ally Financial recently announced expanded programs for used leases.

But how much would your monthly payments be on a used lease? Consumers would expect those monthly payments to be even lower since it's a three-year-old vehicle. But by how much?

National online auto lease marketplace, Swapalease.com, recently conducted a comparison of monthly payments on two popular trucks today, a 2016 GMC Yukon 4WD SLE, and a 2016 GMC Sierra Crew Cab 4WD SLE. The analysis then compared what the monthly payment would be on the same trucks if leased three years later.

 

2016 GMC Yukon 4WD SLE (Average $53,885 MSRP): 

  • New Lease Monthly payments average $614.57        Plus applicable taxes
  • Used Lease (36 months old) Monthly payments average $424.80 Plus applicable taxes 

2016 GMC Sierra Crew Cab 4WD SLE (Average $48,050 MSRP):

  • New Lease Monthly payments average $513.61        Plus applicable taxes
  • Used Lease (36 months old) Monthly payments average $421.29     Plus applicable taxes

For a complete breakdown on the numbers behind these deals, click here and click here.

“There’s plenty of talk in the marketplace about the prospects of used lease deals, which historically haven’t been a large part of lease availability,” said Scot Hall, Executive Vice President of Swapalease.com. “We wanted to provide a snapshot to the industry and to consumers what some average comparison deals might look like as a way to provide education ahead of any possible deals.”

Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. More specifically Swapalease.com matches individuals who want to get out of their lease with people who are looking for short-term lease agreements. Prospective buyers can search the listings for the exact vehicle they want, and then register for a nominal fee, allowing them to use Swapalease.com’s safe online system to contact the prospective seller and close the deal. 

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