Where are cars coming off leases sold?


#1

Several years ago, there was a website for cars for sale coming off BofA leases. There were huge lots of these vehicles and you could call and get a review done and buy the cars by phone. Then you had 3 days to change your mind. Does anyone know if those sites still exist and if so, what the URL is?


#2

Doesn’t make a lot of sense. BofA may finance, but the car goes back to the dealer, so they would be disposed of many ways-- sold on the lot as used, sold at auction, shipped overseas…


#3

I’d assume that you might mean B of A fleet cars - that B of A leased. But I’d still bet that they are fed out in the normal ways. When the lease ends, they end up back with the actual owner. Some go to dealer used lots. Others end up at auction. I know that the fleet cars at the middle-level state university I work for all end up at auction. But I believe most of those are purchased rather than leased.


#4

Cars coming off leases are usually siting in the “used car,” or “pre-owned,” section of your local auto dealers’ lots.


#5

When the banking and credit system collapsed starting in mid-2007, car leasing and sales virtually ground to a halt…Today, 3 or 4 years later, people are looking for used cars that simply do not exist…There was a 2 or 3 year period when new vehicle sales hit rock bottom. The money used to support leases dried up completely and thousands of auto-leasing companies went out of business, along with many dealers…

That’s why clean, late-model used cars today sell for close to what new cars sell for…


#6

Just like cars from rental companies . If you look at their website you can check their listings .


#7

In a former job I inspected off lease vehicles and I learned dealers had the choice of purchasing the vehicle or letting it go to auction.