• 734.641.8400 February 2017
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Sweetheart of a DEAL!

HURRY! This "sweet" deal is only here for a short time! "Click Here" for complete details.

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January 2017
December 2016
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2016 PSCU
Board of Directors
Frederick W. Morgan

Jeffery King
Vice Chairperson

Dean J. Trudeau

Edward A. Carey, Jr.

Bernard Hanus
Charles Lowler
 Carol Palazzolo
Dale Reaume
Nora Sharpley
Credit Committee
Veronica Massey
Huey Ferguson
Juanita Henry
Michael McMicken

Vehicle Details: Best Vehicles to Buy Off Lease
It’s a great time to save money on a “new to you” vehicle

If you’re looking for a new vehicle but are comfortable buying pre-owned, there are plenty of off-lease vehicles that will be making their way to dealerships nationwide, which means you could be in for some big savings.

Have you ever wondered what happens to leased vehicles when they’re turned in? Many of them end up on dealer lots and are great alternatives to buying new. Turned-in leases are a way for you to get yourself into a new vehicle every few years.

A recent article in Forbes says that “Altogether, the top 10 most-leased vehicles represent 28 percent of all cars and crossovers coming off two- and three-year leases that are headed back to market.” That could mean major savings to you.

Forbes added that many popular 2013 and 2014 models—like the Toyota Camry, Corolla and RAV4; Honda Accord, Civic and CR-V; and Ford Escape and Fusion—are coming off leases in heavy numbers, and that means used versions should be even more affordable.

U.S. News has its own advice. With new 2017 models in showrooms, U.S. News ranked the best eight cars coming off leases, with a few luxury vehicles making the cut. Among them were the 2014 Cadillac ATS (a former “Best Upscale Midsize Car for Families” winner), Cadillac CTS (the No. 1 ranked 2014 luxury large car and used luxury large car $30,000 and up) and the 2014 Lexus ES (one of the most well-rounded luxury sedans on the market). The 2014 Subaru Outback, Chevrolet Malibu and Toyota Avalon all earned a spot as well.

In an Automotive News article that discusses the impact of the bounty of off-lease vehicles on the industry, Tom Kontos, chief economist of auction operator ADESA, predicts that “overall used-vehicle prices will fall 3 to 5 percent per year this year and again in 2017, as the increased supply more than catches up to retail demand.”

So if you’re looking for a vehicle, it may be in your best interest to wait a few months for when the heavy influx of off-lease vehicles makes its way to your local dealerships. And best of all, it will give you the time to get the proper financing so your great deal will be on your terms, ensuring you that you have the right loan too.


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Disclaimer - All content contained in this newsletter is for informational purposes only and should not be relied upon to make any financial, accounting, tax, legal or other related decisions. Each person must consider his or her objectives, risk tolerances and level of comfort when making financial decisions and should consult a competent professional advisor prior to making any such decisions. Any opinions expressed through the content in this newsletter are the opinions of the particular author only.  

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