Tue | 06.12.2022
How does the SH cars market look?
The supply of new cars, and subsequently used cars, remains an issue that is expected to persist till year end and into 2024, which will continue to support residual values.
Used-car prices are under increasing pressure as used-car transactions retreat with the cost-of-living crisis further eroding the willingness of consumers to buy both new and used cars. Despite supply challenges, the prospect of diminishing demand means prices may already reached their peak in some European countries, Romania included, and the %RV is forecast to decline, or at best stabilize.
What are the benefits of a car after operational leasing?
According to the results of a recent survey, Romania has one of the least transparent used car markets in Europe. One in five used cars has the mileage adjusted. The average value erased from the odometer is about 50,000 kilometers (48,090 km). This means that a buyer not only that will pay more for a vehicle but based on false records, may also have trouble planning revisions.
This is not the case of the second-hand cars after operational leasing contracts. We are cars experts, and we are committed to caring for our customer every step of the way. Cars are the property of Business Lease Romania since purchase from an authorized dealer in Romania, and we are therefore its first and so far, their only owner. Cars offered result from terminated operational leasing and are not encumbered by any type of third – part lien. Cars have been under constant supervision, whether during a service visit in our preferred authorized service network or a seasonal tire change, so we can guarantee the mileages on the odometers. We provide up to 3 years extended warranty and we are fully transparent about cars’ history, including repairs and insurance events. We can provide, on request, the damage history file of each car which, based on VIN number, may be checked at any authorized service center of the given brand. Our “expert service with a smile” approach means you can trust us to support you every step of the way. We can assist you to find the car suitable for your needs and offer financing and insurance packages that work for you.
Auto Market Business Lease becomes “Cars and Care”. Why Cars and Care? Why the Rebranding?
“Cars and Care” is an extension of Business Lease “mother brand”, built on our core values: passion, care and expertise. During the years each BL country had different names of their second-hand cars such as Bazaar, Autopeeperaku, Cars leasing Auto, Automarket, BL Bazaar, etc.
It was the time to find a proper name, a brand identity to underline our relevant strengths: Care has always been in our DNA, we like to say, now it’s on our name too. Our Vision and Values are the same. All others: look, colors, tone of voice, logo and visual approach are all aligned to those of the mother brand.
Buying a second-hand car can be stressful because customers are never sure where the car is from or what it’s been through. Cars and Care – Driven by Business Lease is a brand linked to emotions of trust, security, confidence. Our customer can relax, because they know the cars are from a reputable source, serviced in trustable workshops network and possess guaranteed quality.
What are the keywords defining this year? What do you expect to happen on the last trimester?
The current market is facing big challenges, due to increased interest rates, inflation and huge delays on deliveries of new cars up to 6- 9 months. Since the production of new cars is not able to cover the demands and the renewal rate decreases, there are no second-hand cars in the western countries to be transferred to Romania anymore. The result was an increase in the second-hand cars’ prices which we estimate that hit its peak, so, for the year end we estimate a decrease in demand and second-hand cars’ prices.
What are the highlights of the next year (2023)? What should we expect?
We expect the same trend of 2022, maybe a small decrease in terms of volumes, but quite high level of prices, at least in the first half of the year. The high prices are the consequence of issues faced by supply chains of new cars, which are setting the tone also in 2023.
How can clients protect their investment in a second-hand car? What are their options?
We offer up to 3 years extended warranty, for max 20.000km per annum and, in the limit of the insured amount, max RON 20,000 by Business Lease Advantage which is covering a wide range of malfunctions, for cars which meet certain criteria upon purchase: max 3500kg weight, max 6 years old car and max 200.000 km on board.
This article was provided by our Mobility Partner, Business Lease Romania.