auctions at the end of the lease?

Since these cars tend to be in great condition, do dealers send many returned cars to auctions at the end of the lease?

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May 17, 2020 5:13 AM

When leased vehicles come back to the dealer, the dealer has a disposal problem if the leaseholder doesn’t want to buy the car. The problem is that the vehicle sits on the lot and continues to depreciate

May 26, 2020 2:17 PM

When leased vehicles come back to the dealer, the dealer has a disposal problem if the leaseholder doesn't want to buy the car. The problem is that the vehicle sits on the lot and continues to depreciate. You can buy directly from an auction in person, or buy your end-of-lease car from an online auction

May 26, 2020 2:18 PM

Many cars that end up at auction, particularly new ones, are cars dealers weren't able to sell. After some time on the lot, dealers sell them at auction to move them quickly. There are also ex-lease or rental cars. Companies may retire these cars due to high mileage

May 26, 2020 2:20 PM

Dealerships don't own the car that is returned after a lease. Generally, the vehicle is owned by a leasing company that wants the car returned. Many do offer the dealer the option to buy the vehicle, some don't. The ones that do not, put the cars up for auction where other dealers may purchase them.

May 26, 2020 2:21 PM

Returned leases can be very good cars to buy.These are usually lease returns. Deals vary, but you often get a low mileage, 3 year old car that has had its depreciation already taken. You can save 30% off a new car of the same brand and model.

May 26, 2020 2:24 PM