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Ex-lease car
An ex-lease car is a vehicle returning from a leasing contract that must be sold on the used market. It typically has known service history and high mileage, and it must be assessed for condition, settled for excess mileage and damage, and priced against a residual value set three years earlier.
Ex-lease cars arrive in waves, because contracts are signed in waves. Without visibility of which cars come home when, stock spikes appear.
Good handling starts 60-90 days before the return: condition assessment and a decision on whether the car is re-leased, sold to the customer or put on the open market.
If the customer has been offered a new car, the old one can often be sold on without ever entering stock.
In CARRUSLiNK
CARRUSLiNK shows which contracts expire in the coming months, so the cars can be planned before they arrive on the lot.