Going into 2016, there were widespread expectations that the influx of off-lease cars and trucks hitting the market would ding used-vehicle values. But that hasn't really happened. So will used prices fall in the fall?
Most auto lenders surveyed by Black Book said remarketing is a top strategy for handling lease returns, but few are making use of residual data, deemed key to developing an effective remarketing strategy.
Beepi, an online used-car marketplace that competes with dealerships, is looking to expand into older used cars. The new service, called Beepi Blue, will buy those cars from private individuals and sell them at wholesale auctions.
Kia expects to sell 75,000 CPO units this year. More off-lease vehicles, more CPO listings online and more full-time CPO reps calling on dealers can make that happen, said Kia's manager of CPO and remarketing.