After years of uncertainty, primarily as the result of the economic meltdown, the new car business in Canada is once again doing well. In fact, sales of new vehicles in Canada surpassed the two million mark in 2018 for just the second time in history. If you’re running a company that utilizes a fleet of vehicles, there’s good news for you too; there are also benefits to a strong Canadian used vehicle markets, especially when it comes to pre-owned trucks.
Whether you lease or buy your vehicles, there comes a time where they wear out their usefulness. Operating during a time when the used vehicle market is hot provides many benefits for companies looking to move their used vehicles. For starters, a hot pre-owned market means higher resale values and an opportunity to maximize lease end values on your vehicles. There is also less residual risk in the lease given the higher resale values when leases draw to a close. Another positive benefit is the fact there is usually a lower lease payment when residual values are higher. For companies moving certified pre-owned trucks, this also translates into quicker sales.
The need to put pre-owned vehicles onto the resale market is not as urgent as it used to be, primarily because vehicles are better quality than they used to be and tend to hold up to the abuse they are given. Some companies opt to keep vehicles longer before replacing them with new vehicles. That said, moving out old vehicle inventory through resale or auction and replacing it with new vehicles is still a good move for companies looking to minimize repair costs on aging vehicles. The hot market for pre-owned trucks in Canada simply provides companies with a greater incentive to sell, to help maximize the amounts they can get.
Jim Peplinski Leasing offers a great selection of top quality pre-owned vehicles available for purchase or lease. These include pre-owned trucks, luxury cars, SUVs and other well-maintained vehicles. As a professional leasing company, Jim Peplinski Leasing can customize the lease to suit your needs and your budget, so you’re completely satisfied with your vehicle and your lease payments.
