Does anyone know how to value what a dealer might have paid for a 2017 lease return? Also, how the car’s condition might play into it, particularly if it will be sold as a CPO.

I know it may vary by whatever the lease agreement residual was, but I thought it might be close to auction value as they are buying them at wholesale from the leasing company. I expect the majority are Lexus Financial leases, so I’m not sure how that might skew things.

Thoughts?

(Steve, you seem to lease as a rule, when you trade in does it just go back to Lexus Financial or does it play into your lease/buy for a new one?)

 

There might be some exceptions, but most (if not all) lease returns wind up at dealer auctions (I.e. Manheim).
The RV set at lease inception has nothing to do with what the dealer paid for the car (although, I’ve read somewhere that BMWFS requires dealers to buy certain percentage of cars for at RV, which in BMWs case is almost always inflated). The number you’re looking for is the MMR (Manheim Market Report), which would give you an idea what the dealer might have paid for a specific car.
In quite a few cases, the lease returns are only available to the new car dealers that sell that specific make.

 

Thanks, that’s what I was assuming/hoping. . I can pull Manheim MMRs for a baseline for the respective VINs I’m interested in.

The CR score for a good vs excellent lease return will also help target what they have in the car.

Appreciated.

 

I've never turned them in, I always trade them in...