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Leasly · New & Preowned Vehicle Leasing

The car loan trap has a way out.

Nearly 1 in 3 vehicle trade-ins carry negative equity today — drivers owe an average of $7,183 more than their car is worth, and that debt doesn’t disappear. It gets rolled into the next loan. Leasly is a leasing program, offered through your dealership, built so that’s never your story.

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Available through licensed new and preowned dealerships. Terms vary by dealer, vehicle and credit profile.

EQUITY BREAK-EVEN UNDERWATER
$7,183
Average negative equity carried on new-vehicle trade-ins, Q1 2026
SOURCE: EDMUNDS
Why This Matters

Negative equity isn’t rare anymore. It’s the default.

Vehicle prices climbed, loan terms stretched to keep payments affordable, and depreciation quietly outran what most buyers were paying down. The result shows up the moment they try to trade in.

30.9%

of trade-ins toward a new vehicle carried negative equity in Q1 2026 — the second-highest share on record.

EDMUNDS, Q1 2026
$7,183

average amount still owed above the vehicle’s trade-in value — debt that gets rolled straight into the next loan.

EDMUNDS, Q1 2026
77.4 mo

average loan term for buyers rolling negative equity forward — versus 70.3 months market-wide.

EDMUNDS, Q1 2026
$15,663

total interest paid over the life of a loan with negative equity, versus $9,592 for a typical new-vehicle loan.

EDMUNDS, Q1 2026

It compounds the longer you own the car. The average vehicle on U.S. roads is now 12.8 years old, and drivers typically hold onto a car for around 8.4 years before trading it in. That’s years of payments that outlast the factory warranty — and years for depreciation and repair bills to work against whatever equity a driver started with.

The Leasly Difference

You drive the car. We carry the depreciation.

Leasing changes what you’re actually financing — not the whole vehicle, just the portion of its value you use. That one shift removes most of what makes traditional car debt so risky.

No Equity to Lose

Nothing rolls forward

With a loan, you’re financing the full price of a depreciating asset. With a Leasly lease, you’re paying for the use of it. There’s no payoff gap to chase and nothing to carry into your next deal.

Lower Monthly Payments

More of your budget stays yours

The average lease payment runs below the average new-vehicle loan payment of $770 a month. Smaller monthly commitment, same new car in your driveway.

Shorter Terms

Real decision points, on schedule

Traditional loans now average nearly six years, with plenty stretching past seven. Leasly terms run 12 to 60 months — averaging 39 — so you pick the length that fits, and you’re back at a choice — not stuck — long before a loan would let go of you.

Always Under Warranty

Fewer surprises, less out of pocket

Leasly keeps you in a newer vehicle, which means you’re driving under factory coverage instead of absorbing the repair bills that tend to show up once a car ages past it.

Lease vs. Loan

Same driveway. Very different risk.

Set side by side, the structural difference is the whole story — who's exposed if the vehicle's value comes up short.

Traditional Auto Loan Leasing With Leasly
Avg. monthly payment $770 (new-vehicle avg.) $659 (nat’l lease avg.)
Avg. term 70.3 months market-wide — 77.4 months for underwater buyers 12–60 months, averaging 39 months
Who owns the depreciation risk You do. If the payoff exceeds the trade-in value, the gap is yours to cover. The lease does. Vehicle value at term’s end was set upfront.
If the vehicle is worth less than owed Rolled into the next loan — extending the debt further. Nothing to roll forward. Return the vehicle and walk away.
Vehicle age when term ends Often 6–7 years in, well past the factory warranty. Term ends while the vehicle is often still under warranty.

Loan and market figures: Edmunds Q1 2026 Insights Report; Experian average car and lease payment data. Lease terms, payments and mileage allowances vary by dealer, vehicle and applicant credit profile — ask your Leasly dealer for the numbers on your specific deal.

Getting Started

Three steps. No equity gap to manage.

01

Visit a Leasly dealer

Leasly is offered through licensed new and preowned dealerships — not sold direct. Ask your sales or finance team whether the dealership offers it.

02

Structure the lease around you

Choose a term anywhere from 12 to 60 months — most drivers land around 39 — plus a mileage allowance and payment built around how you actually drive, not a one-size loan stretched to fit the payment you can afford.

03

Decide at lease-end — not before

Return the vehicle, move into something newer, or explore purchasing it. Either way, you're not carrying yesterday's depreciation into tomorrow's deal.

Questions, Answered

Leasing, in plain language.

Is leasing the same as renting? +

No. A lease is a financing structure, just like a loan — you sign a contract with a set monthly payment and term. The difference is what you're paying for: a loan finances the full price of the vehicle, while a lease finances only the portion of its value you use during the term.

What if I drive more than the mileage allowance? +

Every lease includes a mileage allowance, and going over it comes with a per-mile charge at lease-end. Leasly allows custom mileage from 6,000 to 25,000 miles per year, so you can talk to your dealer about setting an allowance that actually matches your driving.

What happens when the lease ends? +

You choose: return the vehicle and walk away, move into a new lease, or purchase this one at the price set at signing. No negotiation and no guessing what it's worth.

Do I need excellent credit to qualify? +

Leasly works with participating dealers to evaluate a range of credit profiles, not only top-tier scores. Approval, terms and pricing depend on your credit and the specific program available through your dealer.

Is leasing right for me? +

If you tend to replace vehicles every few years anyway, want predictable payments, or are trying to get out from under an upside-down loan, leasing usually beats signing up for another six- or seven-year loan. If you plan to hold on to your car for seven or more years, traditional financing may still fit you better.

Ask your dealer if Leasly is the smarter way to your next vehicle.

Available through licensed new and preowned dealerships nationwide.
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Privacy Policy

At Leasly, we are committed to protecting the privacy and confidentiality of our customers’ personal information. This Privacy Policy outlines how we collect, use, disclose, and safeguard the information you provide to us when using our services. We adhere to industry best practices and comply with applicable privacy laws and regulations to ensure the security of your information. Please read this policy carefully to understand our practices regarding your personal information.

1. Information We Collect

1.1 Personal Information: When you apply for a lease or use our services, we may collect personal information, including but not limited to your name, address, contact details, date of birth, social security number, employment information, financial information, and credit history. We only collect the information necessary to assess your lease application and provide you with the requested services.

1.2 Automatically Collected Information: We may automatically collect certain information when you visit our website or use our online services. This may include your IP address, browser type, operating system, device information, and browsing behavior. We use this information for analytical purposes, to improve our services, and to enhance your website experience.

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2.1 Lease Application and Processing: We use the information you provide to process your lease application, verify your identity, assess creditworthiness, determine lease eligibility, and facilitate lease disbursement and repayment. We may also use the information to communicate with you about your application, lease status, and related matters.

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