C5's Coming Off Lease
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Racer
Joined: Aug 2001
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From: Hopewell Jct, NY
C5's Coming Off Lease
Does anyone know how to find the banks that own cars that are coming of lease. In my area there are a few Corvette Specialty dealers. I am trying to figure out were these guys buy so many cars. Are they leases? Do they get the buy out from the banks or other dealerships. How do they get so many cars. Some with hardly any miles.??????
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Originally Posted by jrose7004
They're probably getting them from the nearest GM program auction! 
I agree. If you use a local bank, check with them also. If they don't do this, they may be able to steer you in the right direction.
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Originally Posted by jrose7004
They're probably getting them from the nearest GM program auction!
Plus, alot of dealerships take them in trade and always call a certain place to take it off thier hands. Usually when you trade in a vette, it is already sold off to another dealer before you even make the deal. A local place here has 15-20 used vettes in stock all the time. (Source of above info) Thats all they sell usually, too.
Team Owner
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From: small town in S.E Pa. PA
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a lease return is owned by the bank who wrote the lease note, when a C5 is turned in, it's turned into the dealer, the dealer has first crack at the car, but most wind up going straight to auction from the dealership.
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From: Mustang OK
Originally Posted by jrose7004
They're probably getting them from the nearest GM program auction!
Also, a friend of mine is the Inventory Manager for a dealer who has one of the largest sales volumes of Corvettes in this area. He frequently get calls from many of the smaller dealers offering them Vettes that they have taken in on trade or otherwise acquired. 
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Burning Brakes
Joined: Oct 2004
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From: EXTON PA
Originally Posted by MrBigButt98Conv
Does anyone know how to find the banks that own cars that are coming of lease. In my area there are a few Corvette Specialty dealers. I am trying to figure out were these guys buy so many cars. Are they leases? Do they get the buy out from the banks or other dealerships. How do they get so many cars. Some with hardly any miles.??????
Safety Car
Joined: May 2004
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From: Naples Florida
My car was a lease return. My banker called me because he knew I drove vettes and was in the market. They were happy to get rid of it and I was happy to buy it. The bank has a list of what type of car and when the lease is up, it is listed by date. It can't hurt to ask.
Team Owner
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From: NJ
St. Jude Donor '05-'08
My credit union which leases ends up selling the leases at the end so you can get a good deal (and I am sure they make out great doing it). I have also seen on SWAPALEASE cars that are near there end which one can pick up.
I would check with some local finance agencies and see what they can hook you up with...
I would check with some local finance agencies and see what they can hook you up with...
