Volvo stores get Web access to off-lease autos.(Volvo Finance North America )(Brief Article)

Automotive News, May, 2001 by Sawyers, Arlena

Volvo's captive finance company will give U.S. dealers a chance to buy off-lease vehicles online before they are sent to a physical auction.

Beginning in July, Volvo Finance North America will post its lease vehicles online 60 days before their leases are up. After a lease is up, the Volvo dealer who accepts the vehicle for Volvo Finance will have first dibs on buying it. If, after a few days, that dealer declines, it will be available online to all Volvo dealers for about a week before being sent to a physical auction.

Thomas Fleming, Volvo Finance director of asset sales, said the program will help Volvo dealers better plan their used-car inventory. The move also should increase sales of off-lease vehicles before they go to auction, which would save...

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