Remarketers have a tough time determining residual values on vehicles. When the vehicles are loaded with aftermarket accessories and options, the job of determining accurate dollar values is even tougher.
But a solution is in the works. A forum on Tuesday, Dec. 5, will bring together automakers, Automotive Lease Guide representatives and others to discuss the need for standards.
The forum couldn't be more timely: Lessor portfolios are expected to lose as much as $11 billion this year because of inflated residual values, and the number of off-lease vehicles re-entering the market is growing rapidly.
The faster standards are established, the faster that gap can be closed.