For the fifth straight year, vehicle leasing penetration has increased to an estimated 19.3 to 27.0 percent.
Cincinnati based Swapalease.com founder Ron Joseph says that in addition to having a better selection of lease offers to choose from, consumers will see lower monthly payments.
According to the media release, lease payments will likely be lower because:
- A growing lease segment means more competition among lessors,
- The duration of traditional auto loans has reached five and a half years, while lease commitments are significantly shorter, and
- Interest rates continue to trend lower
While leasing has typically been more prevalent among luxury makes, dealers have continued to embrace leasing for all price points because of the shorter client cycle and the consistent efforts by manufacturers to retain customers.
Swapalease.com is the world's largest automotive lease marketplace and the pioneer of facilitating lease transfers online.
Read the full release here.
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