The financing of used vehicles via LOA is progressing, as evidenced by an inventory of credit in the first half of 2019 revealed by the ASF. Always well behind in the face of the financing of new cars, the used LOA has a bright future ahead of it. But then how to explain this boom in second-hand LOA?
Used LOA progresses in 2019
The second-hand LOA grows more and more over the months, as evidenced by the French Association of Financial Companies (ASF) in its latest semi-annual report. The growth in second-hand LOA operations stood at 43.8% over the first six months of 2019.
Rental figures with option to purchase
Leasing with an option to buy now represents 78.40% of financing, with supporting figures. Rental financing of used vehicles is only a small part of the pie. It still sells 10 times less used vehicles via LOA than new vehicles. However, the used LOA is experiencing an interesting upward curve.
From $ 215m in the first quarter of 2018, financing via second-hand LOA crossed the $ 300m mark (309) in H1 2019.
Where to find a used LOA?
Most manufacturers today offer a fleet of used vehicles, some of which are simply put back on the market after having experienced a first LOA. Some resale sites also specialize in used vehicles. This is the case of aramisauto.com or even autosphere.fr.
An interesting formula?
Our various comparisons of the LOA (see LOA opinion ) reveal that its cost is generally high , even sometimes excessive among certain specialists. Since the LOA rate is never mentioned, some resellers or manufacturers do not hesitate to include avoidable costs in the total cost of the formula. This is the reason why we always prefer to opt for a new or used car loan.
You still have to find the best APR rate, and get a deal. This is the whole point of our comparator.