"When we get a car back, we have to transport it, inspect it, take pictures, and sometimes refurbish it. When you add up everything that needs to happen before reoffering it to a customer, you end up with a significant amount of additional costs. On top of that, there's the risk that the car sits idle for a while, which affects usage rates and continues depreciating without being under contract with a customer. So, the key is to manage this entire transition efficiently - keeping lead times short, costs low and usage rates high."

"As leasing has historically applied mostly to new cars, it's really a different thing to offer used cars, and it depends a bit on where the customer comes from. Those accustomed to leasing new cars might expect used cars to be in the same pristine condition, which isn’t always feasible. Fully refurbishing a used car to a like-new state can drive costs too high, making the offer less competitive. The goal of used car leasing is to provide a more affordable, value-driven alternative compared to leasing a new car. If a customer is new to leasing but has experience buying used cars, their expectations will differ. That’s why transparency is key; we focus on setting the right expectations upfront. To achieve this, we offer different levels of refurbishment. Customers can explore our fully digital showroom to see the available cars, complete with detailed images that highlight their condition. They can zoom in to check for any minor scratches or imperfections, ensuring they know exactly what to expect before making a decision."

"The linear model is driven by lead times. The moment a car is returned, every step toward reselling it to a merchant needs to happen quickly. In leasing, success depends on anticipating how efficiently the car can be repurposed and how fast a new customer can be found to put it back on the road. It’s a completely different game."

"When extending asset lifetimes, internal combustion engines typically see rising maintenance costs beyond five years, whereas electric vehicles offer more stability. As we continue to gain experience with these models, we are gathering more data points that allow us to refine our cost modeling, build more accurate predictive models, and set the right pricing levels."

"When something happens to a used car and it needs repairs, customers generally don’t expect it to be restored to the same standards as a brand-new vehicle. This creates an opportunity to adopt a more circular approach by incorporating used parts. We have already been doing this for critical components like engines, but we are now expanding it across many other areas. The entire industry is gradually shifting toward a circular model, and while this transition takes time, it is an essential part of the evolution of our business. This approach also helps create a new market by making used cars more competitive in pricing. By factoring in the use of spare parts instead of brand-new components, cost models can be optimized, leading to more affordable leasing options."

"In the automotive industry, there are three key stakeholders: businesses like ours, customers, and regulators. A few years ago, leasing used cars was primarily a push model; we had to actively promote the concept and convince customers of its value. Today, it has increasingly shifted to a pull model, with more and more customers requesting these options themselves. Demand is now being driven by the market rather than solely by providers. As for regulation, it remains largely focused on powertrain mix and the CO2 performance of new cars. There is not yet comprehensive regulation covering the total lifetime impact of vehicles. However, we believe this is evolving, and over time, regulators will likely play a larger role in driving this shift."

‍"More and more car manufacturers are recognizing that incorporating used vehicles into their business model is beneficial in the long run. There are several reasons for this shift. First, extending the lifetime of assets helps maintain strong residual values. The longer a manufacturer can keep its vehicles in use, the better their value holds over time. Strong residual values also make new cars more attractive, as they play a key role in calculating leasing rates - higher residual values lead to more competitive leasing offers. Second, OEMs rely heavily on customer loyalty to their after-sales networks, including dealerships and spare parts sales. By keeping customers engaged throughout the vehicle lifecycle—through well-managed used car programs and extended product lifetimes—manufacturers not only retain customers but also increase spare parts sales, further strengthening their business model."