Shows crossover trends, payment threshold and vehicle preferences
CINCINNATI, OHIO (August 23, 2019) – Swapalease.com, the nation’s largest car lease marketplace, reports their latest data on lease trends in a Q2 report.
Key Findings From the Report Include:
Crossovers Not Seeing Growth in Leasing?
A year ago, roughly 7.4% of drivers polled said they would shop for a crossover if they needed to go out and lease a vehicle that day. A year later, that number dipped slightly to 7.1%. With all the explosive growth in Crossover production, is it not a vehicle that appeals to the lease crowd?
Does Payment Threshold Really Matter?
A year ago, the average lease payment was listed at $474.80. Today this number is $506.13, an increase of 6.8% on payment threshold. What’s more, a year ago nearly one in five people said they would look for a payment between $200 – $299, and a year later this percentage has slipped to just 12 percent. Furthermore, the $500 – $599 payment category saw the largest YOY jump, from 10.7% to 19.2% today.
Vehicle Preferences Driving Most Change Today
“Our latest lease trends show that Crossover saturation may be setting into vehicle leasing, as the number of people who say they want to lease a crossover appears to be falling slightly from a year earlier,” said Scot Hall, Executive Vice President of Swapalease.com. “Perhaps price and incentives play a role here, but it’s also possible that people are desiring other model types when leasing a vehicle today.”
Click here to see the Q2 Lease Trends Report from Swapalease.com.
Swapalease.com matches a person wanting out of their existing vehicle lease contract with a car shopper looking to take over a short-term vehicle lease. The marketplace has several thousands of cars and trucks available for transfer to anywhere in the continental U.S.
About Swapalease.com:
Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. More specifically Swapalease.com matches individuals who want to get out of their lease with people who are looking for short-term lease agreements. Prospective buyers can search the listings for the exact vehicle they want, and then register for a nominal fee, allowing them to use Swapalease.com’s safe online system to contact the prospective seller and close the deal. For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com.
