In actuality, vehicle leasing has been declining in the U.S. in recent years. For automakers, leases are generally less profitable, but they help boost new-vehicle deliveries and keep a steady stream of buyers coming back. That new ​approach, along with higher interest rates in recent years, means lease customers are paying more. Additionally, the newfound drop means a key supply of off-lease cars for the used car market is now gone. The average selling price of a three-year-old used vehicle has increased 43% since before Covid as off-lease volume has gone down.