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In this blog post, we’ll explore the key factors that impact the decision to extend a car lease and tips for making an informed choice. Understanding Car Leasing Before diving into the considerations surrounding leaseextensions, it’s important to understand the basic structure of car leasing.
As we approach the end of the year, holiday car sales are upon us with Black Friday and Christmas being the tentpoles of many dealerships’ end-of-year sales strategies. With so many dealers competing to land price-conscious car buyers, how can your dealership leverage the holidays to finish the year strong?
But as the looming microchip shortage and countless production delays continue, this year’s holiday season and year-end sales events for many dealerships will likely look vastly different than before. While some brands have been impacted more than others, no OEM has been completely immune from the effects of the chip shortage.
As soon as a customer buys out their lease, their loyalty is immediately at risk, threatening: Sales revenue Service revenue Pre-owned inventory Proactively and consistently engaging lease customers is key to preventing buybacks and achieving sustainable dealership success.
Dealerships can’t market with little or no inventory. Through July 2021, CPO sales increased by 11% year-over-year However, as pandemic-driven leaseextensions begin to expire, CPO supply constraints are expected to improve, providing a potentially lucrative opportunity for dealers to engage buyers and build loyalty through CPO sales.
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