Hello, Allpar Forums member or visitor! If you were a member, you would not see this ad!

Register or log in at the top right of the page...

  1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Used rental cars

Discussion in 'Auto News & Rumors' started by jerseyjoe, Jan 2, 2018.

  1. jerseyjoe

    jerseyjoe Plymouth Makes It

    Joined:
    Apr 13, 2002
    Messages:
    7,524
    Likes:
    1,721
    Seeing a lot of 2017 300Cs with 12,000 miles for $24k at non MOPAR dealers. Any chance of finding one certified MOPAR? What do the experts here think about buying rental cars?
     
  2. Bob Lincoln

    Bob Lincoln "CHECK FAULT CODES"
    Level 2 Supporter

    Joined:
    Jul 10, 2002
    Messages:
    29,948
    Likes:
    3,336
    We once bought a year-old Camry (1997 model in 1998) that had 18K miles and had been in Ft. Lauderdale. We kept it 14 years, it was an appliance car but ran great and had very few repairs. Sold it in 2012 for $2800 with 176K miles.
    But rental cars to me are a higher risk.
     
    jerseyjoe likes this.
  3. Erik Latranyi

    Level III Supporter

    Joined:
    Aug 20, 2003
    Messages:
    11,050
    Likes:
    10,674
    I personally would avoid a rental if I could. I have gotten program cars instead. They seem to be abused a bit less.

    I know what I have done to 300Cs with the Hemi as rentals!
     
    jerseyjoe likes this.
  4. RobbieAG

    RobbieAG Active Member

    Joined:
    Mar 17, 2017
    Messages:
    33
    Likes:
    40
    I purchased my 2016 300 Limited from Carmax last year. It was less than a year old and had 12k miles. So far all is good and I'm very happy with it. For less than the price of a new Camry or Accord, I got a much nicer car.
     
  5. Muther

    Muther Well-Known Member

    Joined:
    Mar 23, 2012
    Messages:
    3,648
    Likes:
    3,182
    So True.

    You don’t want a rental car after I’m done with it. Every time I sit in the driver’s seat of a rental, I feel obligated to give new meaning to the term “Drive it like you stole it”.
     
    jerseyjoe likes this.
  6. jerseyjoe

    jerseyjoe Plymouth Makes It

    Joined:
    Apr 13, 2002
    Messages:
    7,524
    Likes:
    1,721
    I guess I should be looking for a program car from Chrysler but all the used ones I see advertised are at non MOPAR dealers. I'm looking for a Chrysler certerfied car, no luck there. Wonder what dealers are doing with there rental returns? I have talked with sales people and left my contact information, no calls since I started in the summer. Not asking for a hemi.
     
    #6 jerseyjoe, Jan 2, 2018
    Last edited: Jan 2, 2018
  7. auric

    auric Well-Known Member

    Joined:
    Aug 20, 2011
    Messages:
    205
    Likes:
    118
    Do you mean lease returns? The was a dealer when I lived in the Seattle area that it was easy to spot those on their website. I’m not sure what it was that made them stand out. Maybe one the sales guys on here can help?
     
    jerseyjoe likes this.
  8. blackstratus

    blackstratus Well-Known Member

    Joined:
    Nov 23, 2003
    Messages:
    334
    Likes:
    60
    Checked autotrader.com tonight and 665 Chrysler Certified 2015-2017 300 models came up. Searched entire USA. I checked about a dozens and over half were rentals. Other were off lease models. The nice thing about autotrader is you can specifically pick out certified used models. Most certified cars also have a Carfax.
     
    jerseyjoe likes this.
  9. valiant67

    valiant67 Rich Corinthian Leather
    Level III Supporter

    Joined:
    Jan 7, 2003
    Messages:
    31,980
    Likes:
    11,550
    If a dealer doesn’t sell many 300’s they probably aren’t going to step up for off-lease or factory official cars.

    Not every off-lease or rental car is going to qualify for certified pre-owned.
     
    jerseyjoe likes this.
  10. MJAB

    MJAB Well-Known Member

    Joined:
    Oct 4, 2013
    Messages:
    2,758
    Likes:
    3,052
    The off-lease cars most of the times are not owned by a dealership, but by a finance company.

    When the car is back from period of leasing the financial company gives to dealership a price at which the dealership can purchase the car.
    The price for the dealership is not the residual that is on leese contract, but a price determined by finance company based on wholesale auction price of that model at that time for a car with that mileage, general conditions, ... corrected with other parameters that could be, for example, period of the year, cycle of the product, ...

    So if the dealerships doesn't find atractive a model for its used vehicles lot than it will be difficult to find one used at dealership.

    Also one person interested in keeping the vehicle that has leased, but which market value is lower than the residual on the contract, can take advantage from how the system works.
    One can negotiate with the dealership for a lower price for a the spouse or a family member or even a friend.
    The dealership than purchases the car from financial company and than sells to the spouse / family member / friend.
     
    jerseyjoe and somber like this.
  11. valiant67

    valiant67 Rich Corinthian Leather
    Level III Supporter

    Joined:
    Jan 7, 2003
    Messages:
    31,980
    Likes:
    11,550
    The lease cars, and retired rental cars, often run through auctions in the US, just like used cars a dealer does not want to keep in their inventory.
     
  12. mjlafrance

    mjlafrance Active Member

    Joined:
    Sep 10, 2014
    Messages:
    25
    Likes:
    59
    I bought my former enterprise rental 2014 Ram 2500 SLT diesel as a CPO from a CDJR dealer with 12.5k miles. Been a good vehicle and got it at a bargain basement price. Just a tick under 70k now.
     
    jerseyjoe and somber like this.
  13. rapidtrans

    rapidtrans Well-Known Member

    Joined:
    Jul 29, 2005
    Messages:
    1,347
    Likes:
    615
    Chrysler used to hold the nicer Program or Employee Company Cars at the Marshaling Center for employees to purchase. Usually well equipped, clean, low mileage vehicles at a bargain. Dad's cars were often "tagged" by employees since he always ordered nice looking loaded cars and maintained them.
    Any well-used cars would go straight to auction.
     
    jerseyjoe and somber like this.
  14. MJAB

    MJAB Well-Known Member

    Joined:
    Oct 4, 2013
    Messages:
    2,758
    Likes:
    3,052
    Well what I wrote was about an article I read some months ago about U.S.A. off-lease, it is not about Italy or european countries.

    Let me see if I find it again.

    Kelley Blue Book "The Art of Leasing: How to profit from the back end of the deal" - july 2017
    The Art of Leasing: How to profit from the back end of the deal - Kelley Blue Book (at https://www.kbb.com/car-news/all-the-latest/the-art-of-leasing-how-to-profit-from-the-back-end-of-the-deal/2100004377/ )

    From the article:

    "... The dealer purchased the car from General Motors Financial and sold the car to the lessee’s wife. The family saved about $1,800 between the residual price and the dealer’s selling price. General Motors Financial gives dealers 48 hours to purchase an off-lease vehicle turned in at the originating dealership. ..."

    "... Chrysler Capital offers a similar off-lease purchasing program for a lessee’s spouse, family member or friend. “Individuals not on the lease may purchase the car from the dealer at an agreed upon price if the dealer opts to purchase the vehicle at market value at the end of the lease,” Chrysler Capital said in a statement. However, the dealer must purchase the vehicle before it is sent to an auction. Fiat Chrysler’s finance arm also can finance the vehicle. ..."

    From the finance company that has a logic since they reduce the costs, for example they have not to transport the vehicle, auction costs, ... From the point of view of the dealership there is a potential small margin.
     
    somber likes this.
  15. valiant67

    valiant67 Rich Corinthian Leather
    Level III Supporter

    Joined:
    Jan 7, 2003
    Messages:
    31,980
    Likes:
    11,550
    Still does not change what I said. Most still go to auction where another dealer picks them up.

    One of my friends turned in his 96 Voyager at the end of the lease (not a Chrysler lease). He offered to buy it for less than residual. They refused. Two weeks later they called and offered the van to him for his offer. But this is the rare case. Most people are ready to move on after a lease expires. Dealer lots, and especially CarMax, are full of off-lease 3 year old cars from auctions. You may not know it’s an auction car rather than one turned into the dealer until you run a Carfax or other report and see the auction lusting.
     
    somber likes this.
  16. jerseyjoe

    jerseyjoe Plymouth Makes It

    Joined:
    Apr 13, 2002
    Messages:
    7,524
    Likes:
    1,721
    Wow! Loads of info here, take some time to digest. Locally Chrysler dealerships advertise more new vehicles than used. I tried running around to dealershipd but cars I am interested in are not there yet I see 300s popping up all over the place, like a mad rush to get them before they are gone. KIAs are showing up and owners say its because these are bargains. I need to get a newer car but I have to take my pocketbook into account.

    Back to the internet. Lets see what happens.
     
  17. MJAB

    MJAB Well-Known Member

    Joined:
    Oct 4, 2013
    Messages:
    2,758
    Likes:
    3,052
    I posted just to maybe let know someone that if his/her residual is higher than market price of the leased car there is the possibility to keep, if the dealerships want, the car for lower than residual contract value. And is all legal.
    An can be done also with friends, so if someone knows a friend whose car is near to lease contract end ... it could be an opportunity.
     
  18. wolfsblood07

    wolfsblood07 Active Member

    Joined:
    Mar 26, 2017
    Messages:
    131
    Likes:
    116
    Interesting. I always treat my rental cars as carefully as I treat my own car if not more so. I don't want any hassle when I return it.
     
  19. rapidtrans

    rapidtrans Well-Known Member

    Joined:
    Jul 29, 2005
    Messages:
    1,347
    Likes:
    615
    And....a ticket is a ticket. Rental or not if you're out of town yer gonna get boned!
    I travel for work and rent quite often. One rental company tried to nail me for a windshield. I suggested they ought to look in their records. Check how many vehicles our company rents in a given year. Never heard another word from them.
     
    jerseyjoe likes this.
  20. aldo90731

    Level III Supporter

    Joined:
    Jul 6, 2010
    Messages:
    5,981
    Likes:
    9,891
    I have purchased lease returns and ex-rentals before and didn’t have any issues: a 1991 Plymouth Acclaim, a 1995 Jeep Grand Cherokee Laredo, a 2006 Dodge Magnum SRT8 and a 2014 Jeep Wrangler Unlimited Sahara.

    I picked them with very low miles, made sure they still had factory warranty left, only one prior owner and a clean history; they looked well taken care of, including any dings and scratches to the paint, scuffs on the wheels, and chips on the glass.

    I look at a lease return on an individual basis, just like I’d look at any used vehicle.
     
    djsamuel, jerseyjoe, danbek and 3 others like this.

Share This Page

Loading...