692,000 Used Leases So Far in 2014
The new-car leasing market has swarmed back in recent years and is arguably as strong as it has ever been.
And while there isn’t nearly as much industry discussion, data or consumer options when it comes to the pre-owned side of leasing, numbers shared Friday with Auto Remarketing shed some light on how the used-car lease has fared this year and over the past decade.
Monthly used-car leasing numbers moved slightly ahead of year-ago figures in August, according to data from CNW Research, which also indicates that year-to-date numbers while down — 1.84 percent from 2013 — are modestly stronger than recession-era trending.
CNW’s data indicates there were 105,992 used-vehicle leases in August, compared to 105,716 in August 2013.
Through eight months of the year, there have been 692,218 used leases, according to CNW.
There were 705,180 used-car leases written through August 2013. In eight months of 2012, there were 705,027 used leases.
The 2014 year-to-date figure does, however, beat the respective 8-month sums from 2008 (by 2.44 percent), 2009 (9.54 percent), 2010 (up 12.49 percent) and 2011 (6.09 percent).
In an earlier Auto Remarketing story on used leasing, we talked with Scot Hall of Swapalease.com, who suggested that used leases, particularly in the certified pre-owned space, could make sense — as long as they are done correctly. Stay tuned to Auto Remarketing to hear from CPO managers and others in the leasing arena, as they offer their perspective on this market — one that may have potential for growth.