New Car Prices Are Shocking. Used Ones Are Worse. What It Means for Dealer Stocks.

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  • New Car Prices Are Shocking. Used Ones Are Worse. What It Means for Dealer Stocks.

My car seems to be beating the stock market. It’s nothing special—a midsize, mass-market sport-utility vehicle leased in September 2020. On the pandemic supply-chain timeline, that’s after the toilet paper panic and just before the everything-else shortage. And yes: leased. I get a new car every three years to avoid the hassle of repairs and periodically clear my seat rails of Happy Meal fries.

The lease is based on a $40,000 purchase price and a $26,000 “residual”…

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