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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: marginmike who wrote (91269)4/7/2001 3:40:55 PM
From: LLCF  Read Replies (1) of 436258
 
Interesting anecdote... another one from todays Arizona Republic:

"Reverse Sticker Shock"

_Glut of used lease vehicles eats into profits-

Couple of quotes:

"What happened? Leasing agencies simply overestimated the valueof the vehicles at the end of their leases, especially the popular ones, and now they are taking some big losses as they try to resell them as used vehicles"

"CNW Marketing Research, said it will cost a consumer an average of about $100 more a month to lease a comparable vehicle"

"Last year, the industry as a whole lost about $11 billion on overestimated residual values"

And my favorite:

"That creates such spectacles a North Phoenix branch of First Bank of Arizona selling used cars and trucks off its parking lot, attempting to get more for off-lease vehicles than they would at wholesale auction."

or

"Ge Capital and First Union Corp have dropped out of the leasing game altogether.

DAK
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