An executive with extensive experience in used car financing, Ennio Manto formerly led Automotive Finance Solutions as president. During his tenure, Ennio Manto helped a myriad of qualified individuals with poor credit secure automotive loans to purchase pre-owned vehicles.
As of May 2017, the US pre-owned vehicle marketplace shifted to benefit car dealers and buyers. The change centers on the supply of used cars, largely determined by the number of vehicles coming off lease.
Due to the Great Recession, many car manufactures had reduced the number of affordable leases they would offer. This meant that fewer cars would eventually pass on to pre-owned vehicle lots. However, now the dynamic has shifted such that millions of off-lease, pre-owned vehicles have come to market.
Some estimates predict the trend lasting well into 2019. While this boon plays to the advantage of consumers, who can expect lower pre-owned car prices, it negatively impacts car manufacturers. With buyers enticed by reasonably priced pre-owned options, they will be less likely to purchase newer factory products.
