People aren’t leasing cars anymore — and it means higher prices and worse choices for used car-buyers

Vehicle leases made up 31% of the auto market in January 2020, and just 17% in July 2022. Kekyalyaynen / Shutterstock.com

• Vehicle leasing was down almost 50% last July, compared to January 2020.
• Rising lease costs and changing buying habits are driving the change.
• That means less supply going to the used vehicle market, keeping prices up and inventory low.

US car-buyers, it seems, don’t want to lease vehicles anymore.

Leases made up 31% of the auto market in…