Editor's note: An earlier version of this story incorrectly identified Ford Credit CFO Marion Harris as a female.
Ford Motor Credit Co., GM Financial and Ally Financial Inc. have used-vehicle prices on their radar, and they said as much during their third-quarter earnings calls in October.
It's not surprising. While used prices are down, they're still performing better than expected, which has positive effects on lenders. The higher used cars are valued, the lower lenders' losses when those lenders sell repossessed and off-lease vehicles. That has them more optimistic about profits for full-year 2017 and for the general outlook going into 2018.
"Prices have been a lot better than originally expected because we were so worried about the so-called tsunami of off-lease volume," Ford Credit CFO Marion Harris told Automotive News. But a drop in off-rental volume industrywide helped offset the rising off-lease volume, he said.