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Toy­ota Finan­cial Ser­vices and Lexus Finan­cial Ser­vices have been mar­ket­ing off-lease inven­tory sales lately through ADESA Deal­erBlock. There should be a lot of used vehi­cles for deal­ers to choose from – Toy­ota and Lexus new vehi­cle sales have been about 30% lease trans­ac­tions lately.

This Toy­ota pro­gram gives inde­pen­dent, non-franchised deal­ers access to off-lease Toy­ota and Lexus vehi­cles; these vehi­cles pre­vi­ously had only been avail­able to fran­chised deal­ers. ADESA Deal­erBlock offers a 24–7 space to bid, buy, and sell inven­tory online. The Toy­ota off-lease pro­gram has been set up for daily sales to start at 7:00 pm and then end at 4:00 pm the next day. ADESA mem­bers can view the off-lease inven­tory here.

Toy­ota has been count­ing on leas­ing to drive its sales and strengthen mar­ket share. Its Camry is the num­ber one sell­ing car in the US mar­ket. Honda has been work­ing hard at sur­pass­ing the Camry with sales of its Accord – that’s get­ting Honda to be more aggres­sive in its lease offers.

About 2.1 mil­lion off-lease vehi­cles will return to the mar­ket this year, up from 1.7 mil­lion in 2013, accord­ing to Man­heim. Off-lease units are expected to drive down used vehi­cle val­ues this year and beyond – even though that’s yet to be seen in the first four months of this year.

With about 30% of Toy­ota and Lexus mod­els being sold through leases, resid­ual val­ues will be com­ing down. The com­pany has set lower resid­u­als for vehi­cles return­ing to mar­ket in 2016, said Greg Rus­sell, national man­ager, risk at Toy­ota Finan­cial Services.

ARTICLE CONTINUED HERE AT THE SOURCE  (CLICK)

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