CLEVELAND -- National City Bank, which quit the auto leasing business in December 2000, is selling its off-lease vehicles electronically to dealers via VehicleStore.com.
It also is encouraging the 3,200 dealers with which it does business to post their vehicles on the site.
Mark Dubis, senior vice president of Dealer Finance at National City, says the bank has about 50,000 vehicles in its lease portfolio that are expected to come off lease in the next 28 months.
At least 100 to 200 vehicles will be offered on the site at any time, he says.
VehicleStore.com charges dealers $399 a month to upload and sell an unlimited number of vehicles.