Once thought of as the domain of wealthy luxury car buyers, auto leasing has gained broader appeal among consumers. This has provided credit unions with a new portfolio-building strategy for both direct and indirect lending, according to auto leasing industry and credit union executives.
"One of the best things auto leasing offers credit unions is less competition," Frank Rinaudo, senior vice president for GrooveCar, explained.
"A given dealership might have five, eight, ten or even 15 different options for auto loans in addition to the credit union, but auto leasing finance options are often only the captive auto lender and the credit union."
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