New Car Lease Turn-Ins are Changing the Used Car Market
Auto dealers love a good new car lease, for more than one reason. First, when they lease a new car to a customer, they know exactly when the customer will be turning it in. Second, because the customer must return the leased vehicle to the dealership and presumably needs another car, the dealer now has a “captive” audience with that customer. (Hopefully, the customer had a good experience with the original lease.) Finally, that once-new car has now become a gently used vehicle, which is like gold to an auto dealer’s pre-owned inventory.
Benefits of a New Car Lease for a Dealer
Think about it: It’s a tremendous benefit for a dealer when he can lease a new car to a customer; put that same customer another into new vehicle when the lease is up; then later sell the originally leased vehicle to another customer.
