Coming off of an Oscar’s night filled with more glamour and confusion than a Karl Lagerfeld birthday party, we have some interesting stories to lead you into the month of March.
First off, we have some interesting strategies from cosigners on how to deal with the record-breaking off-lease volume coming down the pipes. Next, a word of warning to dealers doing trade-ins: check to see if recall problems were fixed first. A new report says a growing number aren’t, 34% more than last year.
After that, find out why those looking to tout luxury on their lot should send more praises to an unsung hero, the Hyundai Genesis. Finally, we have a red carpet look at some of the most fabulous stars of recent Oscar-winners: their amazing vintage cars.
So jump right in with us!
Consignors Prepared for Record Shattering Off-Lease Numbers
3.6 million units. That’s how many vehicles come off-lease this year, a new record high. The last record was set 15 years ago, when George W. Bush was barely past his first term. By 2020, 4.6 million off-lease vehicles will enter the market in a single year.
Despite the threat of a glut of inventory, consignors say they have learned enough lessons to handle it. Technology will also give them a leg up. Big data analytics let them get smart about how, when and where to remarket. Online auction systems like MyDealerOnline have also made getting vehicles into the right hands easier.
Learn more about how consignors are getting ready for the inventory flood here: http://www.autoremarketing.com/financial-services/consignors-take-savvier-approach-lease-volume
Beware Unfixed Recall Issues
34% more vehicles in 2017 have gone without fixing major recall issues than the year before, according to a new study. Carfax estimates that over 63 million vehicles are on the road with lingering recall issues under the hood. Texas cars are even worse: 1 in 3 could be compromised.
The most likely vehicles to be affected are SUVs and minivans, so take a look at the service records and ask questions before buying auction inventory or a trade-in.
Learn more about the recall study here: http://www.autoremarketing.com/trends/cars-unfixed-recalls-rise-34-over-past-year
Jalopnik: Hyundai Genesis an Insane Luxury Car Value
While many were initially confused about the idea of a Korean budget automaker vying against European luxury cars, the 2015 Hyundai Genesis eventually pulled it off. Yet, many of these models are going for bargain-basement prices, says Jalopnik. That’s why they consider it the best luxury car deal auto buyers can find right now.
See why Jalopnik is singing the Gensis’ praises here: http://jalopnik.com/the-hyundai-genesis-has-become-an-insanely-great-used-l-1792783355
Cars Are the Real Stars of “La La Land,” “Moonlight”
The first shot in the Best Picture Moonlight is a Nassau Blue ‘73 Chevy Impala Coupe. The camera lovingly rolls over its long doors as Oscar Winner Mahershala Ali steps out and squints into the sunlight. Best Director winner La La Land’s Ryan Gosling similarly has a love of classic cars as sprawling as the L.A. freeways it depicts.
Both vehicles chew up scenes and provide bright spots in the stunning cinematography of these memorable movies.
Find out more about why Automobile Magazine things both vehicles should have taken home an Oscar here: http://www.automobilemag.com/news/real-stars-moonlight-la-la-land/
So what are some of your favorite movie cars? Do you have a lot of interest in the Hyundai Genesis on your lot? Are you worried about unfixed recalls or the possible inventory overload looming in the future? Tell us your most honest opinions in the comments below!