Used Cars...Corporate Lease?

danger · 02-13-2007, 12:49 PM

Checking out some used Toyotas lately from dealers, and it turns out that a lot of them are Corporate Leases...

Sounds like a used car code phrase

. Are these rental cars, or some other program that you could let me in on.

Thanks,
Dan

MacFish · 02-13-2007, 01:57 PM

I don't know about these specific cars, but most rental companies like Hertz or Avis will lease new cars for 6 months or so and at the end of the lease, turn most of them back to the manufacturer. Those that they keep are sold through their own sales outlets, while those that go back to the manufacturer are sold through auctions to dealers who resell them as program cars. There's a good chance that that's what you're looking at.

Just_learning · 02-13-2007, 02:02 PM

Jeff Foxworthy has a good quote about buying a car that was once used as a rental.

I wouldnt bother giving those cars a second look, I am personally guilty of abuse of rental cars, and I know I am not alone.

danger · 02-13-2007, 02:05 PM

I have heard Jeff's bit...hence the question.

Norm · 02-13-2007, 02:33 PM

Quote:

Originally Posted by danger

Checking out some used Toyotas lately from dealers, and it turns out that a lot of them are Corporate Leases...

Sounds like a used car code phrase

. Are these rental cars, or some other program that you could let me in on.

Thanks,
Dan

Probably a rental return. I rented a few explorers, liked them and ended up buying a rental with 18K on it. I looked at several and made sure it hadn't been wheeled, driven on gravel roads or done any towing. So far it worked out fine and I paid less than wholesale for it. The only rental I'd be scared of is a Hyundai, I've rented three and they were all junk and all had under 20K on them. The Toyota's(camrey??) have all been fine, no complaints.

Cool Texan · 02-13-2007, 02:36 PM

I dont get too spooked about rentals. Odds are its had a normal, uneventful life just like any other car.

MacFish · 02-13-2007, 02:42 PM

It's pretty hard for the average rental car drivers to do any real damage to a modern car in under 15-20K and the ones that are a little rough are the ones that the rental agencies sell themselves. To limit liability, the rental outfits usually maintain them well and the dealers usually check them out pretty thoroughly for the same reason. While a rental car may be driven hard occasionally, a late model, one owner car may have been driven hard every day. It's never a bad idea to take any used car to a shop that you trust and have it looked over.

ajfishfinder · 02-13-2007, 02:54 PM

I just turned in a corporate lease car. It was an 05 ford escape that I had for 2 years and 50,000 miles. I ended up doing only 43,000. I explored buying it for my wife and the buy out was $14,400. I decided against it. When talking with the guys at the dealership, they said it would get a fluff and buff and go on the lot around $18,000 and not sell for less than $17,000. The only real wear on this car was the tires and floor mats.

When I am out of town I rent cars and treat them about the same. Ok maybe I push on the peddle a bit harder in states where you can, but still rental cars are not treated a whole bunch different than your everday driver is. For the most part people renting cars are doing so to get where they need to go and not going out of their way to trash them. There is waaaaay to much small print stuff in the rental contracts to even think about treating them harshly. I have enough going on everyday without having some unexpected extra bill to try and explain to my boss.

foxer · 02-13-2007, 06:14 PM

Just make sure it has a maint history..ie oil changes

reeldick · 02-14-2007, 11:00 AM

Corporate leases are different from rental cars. We had lease cars and trucks. We took good care of them because we had a special corporate credit card in the glove box for gas and service. Service was always done at factory specified intervals. It cost me nothing and my car was always ready to go. At the end of lease someone would pick up the car and take it away. I think they went to the auction.

MacFish · 02-14-2007, 02:47 PM

Corporate leases, or most leases for that matter, are usually 2-4 years old, while rental cars are usually the current model year, or one year old. Most dealers will call either of them anything from corporate lease returns, program cars, brass hat cars etc., it's all marketing.

Plong_77 · 02-14-2007, 03:33 PM

I purchesed an '02 Xterra that was a rental car from Hertz. Prior to even setting down, they had the cars history layed out in front of me. Seen when every oil change had been done and any other maintenance was done. I bought it when it had 21k on it WELL below wholesale value.

4 years later and sitting on 107k miles, the only thing ive done to it is the recommended tune-up, 2 radiator flushes, Transmission Flush, oil changes every 3-5k, and new front brakes. Its been the best car ive ever owned. Not to mention it handles like a dream in the snow and ice.

Tilla · 02-15-2007, 08:53 AM

Our corp leases a couple thousand cars and they may be turned in after 40 months. Mostly highway miles, corp pays for maintenance and is car kept in good condition for customers. Keeping the car in good condition is part of the job. The option of keeping the car is always there. (our corp allows us to keep them if we pay income tax on the blue book) Most keep and use them or sell them.
I would say that if they were corp leases they would be at the top of well kept used vehicles.