LOTTE Rental, which operates LOTTE Rent-a-Car, has begun expanding its used car retail business.
LOTTE Rental announced on the 2nd that it will operate a new used car sales center in the National Car Sales Complex in Bucheon. The Bucheon sales center is the second used car retail sales center following the one that opened in Gangseo-gu, Gayang-dong, Seoul, last November.
The Bucheon sales center features an exhibition space that can display up to 400 vehicles and a lounge where customers can wait. Customers can check the vehicle's condition and accident history, and the system allows for quick releases with products being ready for sale within 3 to 5 days.
A notable feature of LOTTE Rental's used car retail business is that it supplies inventory from the volume of vehicles that have completed their rental contracts. Since LOTTE Rental directly purchases new cars and later sells used cars maintained by vehicle maintenance professionals every three months, the company claims that the quality of the products is guaranteed.
The main vehicles for sale are popular models from Hyundai Motor and Kia that consumers prefer, which are 3 to 4 years old or newer. For the first time in the industry, it offers a 6-month warranty for major parts such as engines, transmissions, and brakes, and has introduced a 7-day money-back guarantee, allowing customers to experience the vehicle fully before making a purchase decision.
LOTTE Rental aims to achieve an annual transaction volume of 20,000 used cars by 2026 and is expanding its offline locations. LOTTE Rental plans to open additional centers in the metropolitan area during the first half of this year.