The price of used cars has significantly increased, and the demand for leasing is also increasing

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The used car segment in the Baltics is active – “Citadel Leasing “funding for the purchase of used cars for leasing has increased by 12% this year.

“According to our observations, new car owners and rental companies that have purchased them on operating lease from us are no longer actively selling them on the secondary market and are not exchanging for new models as they would have been before the pandemic. The main reason is the stock of new cars in stock. The operating leases are extended or switched to financial ones, so that little-used cars do not enter the market. Glass.

Matīss Gibolis, Sales Manager of Moller Auto Baltic in the Baltics, also emphasizes the increase in demand for used cars in the last six months, which is related to the difficulties of the new car segment in the production and supply chains. “This factor has had a significant impact on the supply of used cars. This trend is global and is being faced by car dealers around the world. Simply put, not enough used cars are entering the secondary market. As a result, prices in the second-hand car segment compared to 2020 is about 20%, “he says.

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