Day: September 21, 2021

Ready to turn in your lease? Record used car prices could mean a financial bonanza

For savvy motorists who’ve been leasing vehicles they’re now ready to turn in, record-high used car prices could mean a financial bonanza.

After tumbling to recession-era levels during the early months of the pandemic, the auto market roared back with a vengeance early this year. Dealers are struggling to find product to sell, fueling surging prices all around. With few new cars on showroom lots, motorists have been snapping up whatever used cars they can find.

Josh Frankel, a New York-based financial consultant, found that his leased 2018 Jeep Compass was worth $18,000 on the used car market — nearly $3,000 more than the buyout value in his lease contract. So rather than turn the SUV back in, Frankel struck a deal to sell it to a used car wholesaler.

“It couldn’t have been easier,” he said by phone. “I didn’t have to lay out a penny. He came to

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REE Stock Can Surprise Investors With a Comeback

Are you in the market for a low-priced stock with multi-bagger potential? Consider electric vehicle (EV) systems up-and-comer REE Automotive (NASDAQ:REE). It’s a risky proposition, I’ll concede, as REE stock isn’t doing particularly well in 2021 — but it just might pay off.

electric vehicles charging at a charging station. electric vehicle stocks

Source: Scharfsinn / Shutterstock.com

To give you a quick primer, REE Automotive doesn’t actually manufacture cars. Rather, the company makes REEBoard, a modular system used to hold the battery and other components.

Additionally, the company makes REEcorner: a system designed to hold powertrains, steering and braking within a wheel well. It’s also important to know that REE Automotive is a product of a special purpose acquisition company (SPAC) merger.

As we’ll see, some traders have been putting negative price pressure on the stock. If you’re willing to take a chance on a possible hidden gem in the EV market, though, then let’s see what’s

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