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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.
Zenith , which manages 92,514 cars and funds 77,396, launched the Project Volt BEV leaseextension programme in the first quarter of 2024, an initiative to extend the leases on BEVs to address losses made on BEVs, targeting 3,000 lease contracts.
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.
Now as COVID-19-driven leaseextensions are beginning to expire, CPO supply constraints are expected to improve, according to IHS Markit – offering some brands and dealers a unique opportunity to take advantage of the growing segment and build brand loyalty.
Work with customers to explore leaseextension options to help bridge the gap between contracts if their desired vehicle is not currently available. Ensure the customer processes their lease buyout at your store and not through their captive finance company or another dealership.
As COVID-19-driven leaseextensions expired last year, offering some brands and dealers a unique opportunity to take advantage of the growing segment and build brand loyalty.
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