Auto auctions often deal with off-lease, off-rental, company cars, or repossessed vehicles. Off-lease means vehicles returned to the financial institution at the end of a lease term, and are usually only found at auctions. Off-rental refers to the practice of rental companies to update their fleets of cars every years, meaning that they have a stock of well kept cars of a recent model and only a short usage, which need to go. Car dealerships will likely want these cheaper cars to fill up their stocks. Company cars and larger vehicles are a similar affair, being constantly updated, but the amount of use and the condition is as varied as the amount of different vehicles used by a large corporation. Repossessed vehicles have been recalled by companies either voluntarily in the case of defects or product changes or involuntary in the case of misuse.
|
|