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Dealer/GM News | Finance & Insurance News | Sales & Marketing
March 21, 2014

Auto Leasing Picking Up Speed

Posts:
Dealer/GM News | Finance & Insurance News | Sales & Marketing
March 21, 2014

Auto Leasing Picking Up Speed

Cars inside_BiggerAuto leasing picking up speed, according to Consumer Affairs.

When financing a new car, consumers have the option of a purchase or a lease. In the past a lease was usually reserved for very expensive cars or those used in businesses, where the payments could be a tax write-off.

But increasingly, new car shoppers are choosing a lease over a purchase, no doubt in large part to some attractive lease terms being offered on all types of vehicles. As a car dealer finance manager told me when I recently leased a vehicle, “manufacturers have figured out leases are great for business. In three years you’ll be back for another vehicle.”

Perhaps, although I do have the option of purchasing my leased vehicle if I want. But he’s right about the attractiveness to carmakers. Market data shows that people who purchase a car drive it an average of six years.

Having a low monthly lease payment and being able to trade-in for a new car in three years without much adjustment to the payment is attractive. And it turns out I’m not the only one thinking that way.

Click here to read the entire article >>

Dealer/GM News•Finance & Insurance News•Sales & Marketing

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