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Fleet Lease Consignor Prices Up 6.6% in March

Screenshot of Tom Kontos, chief economist, courtesy of KAR Auction Services.

Prices for vehicles from fleet lease consignors increased 6.6% in March and are 4.9% higher than a year ago driven in part by a strong spring selling season that boosted the values significantly from February levels, according to KAR Auction Services.

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Avis Opens New Car Sales Locations

All vehicles are Avis Certified — meaning they have passed a rigorous multi-point, bumper-to-bumper inspection process completed by certified mechanics, including ASE-Certified and ASE Master Technicians.

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Car Values Start to Level Off

Courtesy of Black Book.

Car values were up for the second month in a row last week, however, the segment's wholesale values show signs of leveling off, according to Black Book’s May 7 Market Insights report.

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Higher Rates Could Hurt Residual Values

Photo via Wikimedia Commons | User: AgnosticPreacherKid.

Manufacturers may choose to absorb higher federal interest rates on new vehicles to keep prices from rising higher than they have been with heavier incentives, but this could have an adverse effect on residual values.

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IAA Opens New Branch in Wyoming

Insurance Auto Auctions, a business unit of KAR Auction Services, has opened a new branch in Casper Wyoming, according to a company announcement.