Off-lease vehicle returns can be a blessing as dealerships scramble to supply used-vehicle departments amid the microchip-induced inventory shortage. Some dealerships are working hard to entice lease customers to return their vehicles even with a dearth of new-car inventory from which to choose. But they report satisfied customers and consistent profits from the return of off-lease vehicles.
Still, customers hoping to profit from the valuation boost are struggling with auto lender practices that make benefiting from lease value increases a challenge.
Robert Tabet, director of finance for Suburban Collection in southeast Michigan, said few lease customers returning to market are looking to take advantage of their vehicle's appreciation by buying it themselves and then selling it. For those who are, however, he notes certain lenders are easier to work with than others. But there are also challenges when the dealership works with the lender — which can slow the process of how dealerships acquire much-needed inventory.