According to Swapalease.com, as 2013 approaches and the Fiscal Cliff tax issue remains unresolved, the auto industry could be impacted significantly in a worst-case scenario with no deal reached. While some experts believe pent-up demand would shield the industry from a massive slowdown in sales for would-be shoppers, how will rising taxes affect drivers currently in their cars? More than 2,500 drivers across the country were presented with online questions on how the Fiscal Cliff might impact them, conducted by national car lease firm, Swapalease.com:
If no deal is reached and taxes rise significantly, how much would you look to downsize your monthly car payment:
- 56.4% of respondents said $100 or more per month
- 20.8% of respondents said $200 or more per month
Also, 26.2% of respondents said they would consider getting rid of their vehicle and payment altogether without replacing it with another one.
If the Fiscal Cliff forces the economy to worsen, which vehicle maintenance items might you skip occasionally or do less frequently to save money:
- 17.3% said oil changes
- 18.4% said tire replacements
- 11.4% said engine work
- 78.4% said regular car washes
If the Fiscal Cliff forces the economy to worsen, would you be more or less likely to replace your car with a hybrid to save money:
- 26.4% said less likely
- 39.9% said more likely
- 33.7% said they wouldn’t get a hybrid no matter the economic conditions
If taxes rise significantly in 2013, which auto upgrades would be low priority when shopping for a car:
- 58.8% said navigation systems
- 35.2% said GAP protection (insurance)
- 39.7% said technology features
- 4.5% said safety features
- 28.1% said vehicle performance features
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.