The City of Marysville, Mich., is leasing new golf carts rather than 3-year-old carts because of the high residual value of used carts, The Voice reported.

The city council has approved a 52-month lease of 60 new EZ-GO electric golf carts for $224,625, which cost just $223 more than leasing 3-year-old carts. Residual values have gone up due to the popularity of used golf carts for personal use.

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