Leasing Activity Increases for RVI Group
Thanks to higher residuals and more costly financing, RVI Group has seen an increase in leasing penetration during the first quarter of this year, according to AutoRemarketing.com.
STAMFORD, Conn.—Thanks to higher residuals and more costly financing, RVI Group has seen an increase in leasing penetration during the first quarter of this year, according to AutoRemarketing.com. RVI executives reported that the latter half of 2005 saw a decline in leasing; however, now that financing has become more expensive, it has driven consumers to desire lower monthly payments and decide to lease instead of purchase vehicles.
RVI reported that lease penetration has gone above the 20th percentile and that lease payments have been very low in recent months.
According to executives, the company’s used car CPI rose by 1.5 percent on a year-over-year basis, which represents the 20th consecutive month that the used car CPI has shown a year-over-year increase.
The company hopes that used volumes will increase again during the second half of 2006. RVI expects used car prices to be 4.3 percent higher in 2006 compared to 2005.
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