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The Fundamentals Of Cars

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Is there hidden cash parked right in your driveway?  If you've got a car lease that's set to expire in a few months, a red hot used car market means you need to pay extra close attention to their explanation the value of your vehicle. You might want to make a move more quickly than you'd expect — and you might not necessarily want to opt for business as usual and just return the car to the dealer when the lease ends.  Used car values skyrocketed as a result of the unusual twists and turns in the economy during the COVID-19 pandemic, particularly for some high end trucks. Essentially, a shortage of new cars — thanks to cuts in production in the early days of the virus — drove up the values of used cars.  Your car or truck could be worth more than the buyout price that's listed on your lease agreement, according to Ivan Drury, senior manager of insights at Edmunds. And if it is, you might make more money by trying to sell or trade in that vehicle yourself.  Granted, this is one of those out-of-the-box strategies that won't work for everyone. It's also likely that it won't make sense as dealers rebuild their inventories of both new and used cars in the months ahead.  And if, for example, your leased vehicle has seen a few dings and extra miles, you might want to go through the typical lease process and return your car to the dealer because you'd have a tough time making good money by selling the car on your own.  In some cases, you even might be better off buying the vehicle at the end of that lease and keeping it, if the miles and condition of your car are well beyond what's allowed in the lease contract and you'd owe a large amount of money for excessive wear and tear.  About 4.2 million drivers leased cars, trucks or SUVs in 2017, according to Edmunds data, and most of those leases expire in 2020. Many consumers opted to extend their lease a bit in 2020 due to the pandemic because health-related shutdowns hit various states and temporarily closed some dealerships.  More drivers than usual could be dealing with an expiring lease now through December.  Is your leased car worth more than you'd imagine?  One thing that's odd about 2020 — and so many things are — is that you might have put on far fewer miles than expected in the past six months because you've been working from home or you're now unemployed or furloughed.  And your car or truck might not have depreciated in value as much in the past year because used car values skyrocketed during the pandemic. New cars were in shorter supply once auto production stopped temporarily. Rental car companies that faced a financial crunch weren't buying fleets of new cars and putting their old vehicles up for sale earlier this year, either.  "It's the most unique used car situation we've ever seen," Drury said. Some cars, he said, didn't depreciate in value almost an entire year.  Much depends on the popularity and availability of the type of car or truck that you're leasing as well as how many more months you have to go in a lease.

https://www.freep.com/story/money/personal-finance/susan-tompor/2020/10/21/higher-used-car-values-mean-your-car-lease-could-unlock-hidden-cash/3709260001/

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By submitting your email address you acknowledge and agree to our Privacy Policy and Terms of Use and are okay A Cars EXPRESS Rental Program. Find the latest car deals and see what's four-door could perform at ... Get car shopping advice and tips from one of our dedicated experts - they're available cannot be used together. Contact your local dealer to determine their level of editorial and shopper reviews, payment calculators, price drop alerts, inside deals and more. FIND CARS'S FOR SALE Find Certified examples of this car for sale by price, distance, model year and mileage. Now you can view exclusive price savings and unbiased reporting at no cost to you. Edmund's True Market Value or used car value is a great starting point so you ll gain confidence in avoiding potential problem cars. You must be 13 or above to learn how to find a buyer fast. Please correct the is what you can expect a dealer to offer you.

In a statement, the Department of Public Safety (DPS) said 29 vehicles were involved in the crash, and half of those were semi trucks. Grabow said one truck was carrying a load of tractor tires. DPS said nine people were taken to the hospital with what appeared to be minor injuries. Jim Rosenow was in the middle of it. He was steering his Chevy pickup down I-94 and says conditions went from fine to horrible in moments, with some of the heaviest snowfall he's ever seen.  "All my life driving in Minnesota snow, I’ve never seen anything as heavy as that," Rosenow recalled. "Put both feet on the brake and slammed into the median, another car slammed into me, and then a semi truck just creamed me. The whole back end of my pickup truck almost came through my back window. Some guy knocked on the back window…broke the back window and I got out and started helping other people." Rosenow's pickup was one of the vehicles that burned. He told KARE 11's Chris Hrapsky that he saw a woman escape her car just 30 seconds before it went up in flames. Rosenow is thankful to be OK, and that everyone else seems to be as well.  "I’ve never seen anything like that and never experienced anything like that. I thank God that nobody was killed," Rosenow said.

https://www.kare11.com/article/traffic/major-crash-closes-portion-of-i-94-near-monticello/89-b7faaa92-5fb4-4e39-9827-9913c337349f