Retail customers may be moving away from luxury vehicles and toward trucks and SUVs for their leases, according an analysis from Swapalease.com.
Retail customers may be moving away from luxury vehicles and toward trucks and SUVs for their leases, according an analysis from Swapalease.com.
Photo by Eric Gandarilla.
Retail customers may be moving away from luxury vehicles and toward trucks and SUVs for their leases, according an analysis from Swapalease.com.
In the second quarter of 2018, approximately 22.8% of Swapalease’s users stated that the vehicle they currently drove would be classified as a luxury sports sedan, while 27.2% stated that they drove a truck or SUV.
Just two years ago, luxury sports sedans accounted for 27.5% of Swapalease’s users while trucks and SUVs accounted for 24%.
The Swapalease analysis also found that lessees are gaining more interest in shorter lease term lengths. During the second quarter of 2018, 54.1% of its users that it analyzed said their ideal term was for two years, compared to 50.1% who said the same in 2016.
For three-year leases, 42.8% said this term length was ideal for them in the second quarter of 2018, compared to 39.4% two years ago.
From an industry perspective, having shorter lease term lengths would mean that the used industry would have a larger supply of newer vehicles re-entering the market at a faster clip.
New-vehicle affordability declined in April to the worst level yet this year as the bite of higher prices and lower incentives reversed an improving trend.
Read More →
The arrangement accesses cloud-based software designed to help financial institutions keep track of their vehicle and asset collections and limit repetitive clunky tasks.
Read More →
CAR 2023: Politics may be tough territory, but trade groups that build bridges in Washington, D.C. are less likely to get eaten at the regulatory table.
Read More →
Auto finance companies and remarketers should prepare to navigate a more active regulatory environment this year from the CFPB and FTC.
Read More →
Used financing increased 2.4% year-over-year and reached 55.15% in the third quarter of 2019.
Read More →
Several manufacturers offered attractive discounts and competitive pricing on compact cars and SUVs, while most luxury and full-size vehicle brands maintained their lease prices.
Read More →
The Federal Reserve announced a quarter-point interest rate reduction yesterday, its third such move this year. The target federal funds rate now stand at 1.5% after starting the year at 2.25%.
Read More →
Cox Automotive’s chief economist, Jonathan Smoke, said he didn’t expect the Fed’s latest move to match the impact of the July cut for auto manufacturers or dealers.
Read More →
Swapalease.com, a car lease marketplace, reports car lease credit applicants registered a 69.1% approval rate in July, a rise from the June rate of 65%.
Read More →
Federal Reserve Chairman Jerome Powell officially announced a widely expected cut to the federal funds rate yesterday, dropping the central bank's target by a quarter-point to 2%.
Read More →
