Since electric cars are still relatively new to the auto market, it has been difficult for both dealerships and consumers to find quality pre-owned electric vehicles. But now, according to popular auto blog Jalopnik, second wave electric cars are available for “insanely discounted” wholesale prices. A wave of electric vehicles like Fiat 500es, Tesla Model Ss, and Cadillac ELRs are hitting dealership lots now that their leases have expired.
Dealers Go To Auction
Due to such a high demand, those dealerships are selling the vehicles at wholesale auctions at very low prices. There, only dealers can bid on the vehicles. While some dealers may keep these newer electric cars in their own lots for a few weeks to test the waters, it’s far more likely that they will be sent to an auction. Vehicles purchased in auctions make up the majority of a used car lot’s inventory.
While these cars generally sell for much higher than other pre-owned vehicles, keep the price of a new electric car in mind. Even a compact Fiat 500e sells at the price of an SUV. The price of a Tesla Model S starts at just around $68,000.
Drastic Price Changes
The prices of these former leases, which are only a few years old with less than average mileage on them, are selling at up to 80% less than the new cars at auctions.
The MSRP of a Fiat 500e is around $30,000 now, and wasn’t much less in 2013. But a car from that model year with just 12,000 miles is being marked at just $4,500 at these auctions. After they hit the lot, dealers are making more than 100% profits.
As a dealer, this is very useful. There are a number of consumers willing to splurge more on electric vehicles if they’re truly committed to the idea. But even so, only 36% of people purchase their vehicles outright. The vast majority will finance their vehicles — even used ones.
The auto finance leads will practically generate themselves if you take the opportunity to purchase some of these extremely discounted electric vehicles. And making these vehicles available to sub prime buyers will benefit both you and the consumer.
Subprime auto leads for car loans and purchases can help a customer with a lower credit score afford the car of his or her dreams without the stress of breaking the bank.
If you interested in generating more subprime auto leads, get in touch with CyberLead, Inc. today.