Logo myautomagazin.com

Residual Risk With Leasing

Table of contents:

Residual Risk With Leasing
Residual Risk With Leasing

Video: Residual Risk With Leasing

Video: Residual Risk With Leasing
Video: What is Residual Value - in Car Leasing 2023, May

Many new car dealers have recently done really good business thanks to the scrapping bonus. But industry experts and the ADAC warn of the "severe losses" that some dealers will soon face because of incorrectly calculated leasing transactions.

According to the ADAC in Munich, the background to the explosive situation is incorrect calculations in leasing transactions. For years, many dealers would have worked with excessive vehicle residual values for kilometer leasing. Only in this way would they have been able to keep the leasing rates for the vehicles low in a customer-friendly manner. With kilometer leasing, the residual value is contractually agreed - “the dealer bears the risk,” explains Nick Margetts from Limburg. Depending on how “willing to take risks” the dealers calculated the residual value, they ended up financially slippery when taking back the car, explains the managing director of the market watcher Jato Dynamics: “You have to honor the agreed residual value and then end up with a leasing return that was bought too expensive there."

A third of all cars are leased

According to ADAC, the drop in prices has led to falling residual values, particularly for large premium bodies with high consumption. The climate debate and rising fuel prices certainly had an influence on this. “Every vehicle that comes back that cannot be resold at the calculated price results in a loss. And many vehicles are coming back,”they say. After all, a third of all cars in Germany are leased. More or less all companies that have concluded leasing contracts are affected. The ADAC fears that, due to the miscalculations, numerous dealers could go bankrupt in the coming months.

Consequences for the customer

A dealer bankruptcy would have far worse consequences for car buyers than the bankruptcy of a manufacturer, which has been speculated about in connection with General Motors and Opel. According to ADAC lawyer Silvia Schattenkirchner, in the event of the dealer's insolvency, the contact person for the car buyer for claims from the statutory liability for material defects is no longer applicable. If, on the other hand, the manufacturer goes bankrupt, this has fewer consequences for consumers because they can still turn to the dealer with claims.

Consequences of dealer bankruptcy

In the event of a dealer bankruptcy in the event of vehicle defects, the manufacturer's new vehicle warranty usually takes over, so that the buyer can have a defect repaired in any other branded workshop. However, if the buyer wants to return the car after unsuccessful attempts at rectification and withdraw from the purchase, he is lost. "When it comes to resigning, he has a problem," confirms Schattenkirchner. After all, in the event of bankruptcy, there is no longer a contractual partner who could take back the car and reimburse the customer for the money.

Pay only upon delivery

It is similarly unfortunate if you order a new car and have already paid a deposit but have not yet received the car. "In the event of bankruptcy, the down payment falls into the bankruptcy estate," explains Schattenkirchner. Affected parties must then, like all other creditors, assert their claims against the insolvency administrator. Therefore, customers better heed the advice not to pay the purchase price until the vehicle is handed over. But even those who have not paid a deposit when signing the purchase contract and are waiting for the new car are still not out of the question. According to Silvia Schattenkirchner, if the dealer becomes insolvent, the purchase contract will initially continue to exist. The insolvency administrator would have to decide on a possible resignation. (dpa / tmn)

Popular by topic