Luxury Leasing Leaps
Media Contact:
Scot Hall
(513) 381-0100 x 1000
shall@swapalease.com
(Cincinnati, October 25, 2010)
Contrary to what many would consider
conventional wisdom in today’s economic climate, luxury cars are gaining traction
in the marketplace. Tier one brands BMW, Lexus, and Mercedes have had sales
increase in 2010. Automotive analysts note that this trend may be due to better
lease deals
Also, a few years ago 17 million new vehicles were sold nationwide. This year
projections are around 12 million. Used vehicles have been in short supply as a
result of fewer new vehicles being sold. This is important because shortages
drive up prices on used vehicles ultimately enhancing residual values. Higher
residuals values equate to lower lease payments making leases more attractive.
This is especially evident in the luxury car segment where lease penetration is
much greater.
Percentage increase in luxury vehicle sales year to date 2010 in comparison to
same period for 2009 (Source Automotive News October 4th, 2010):
- Audi 19.1%
- BMW 8.4%
- Mercedes 18.0%
- Jaguar 11.0%
- Land Rover 17.5%
- Lexus 8.0%
- Infiniti 19.9%
- Porsche 19.0%
Other factors have contributed to upward trends in luxury leasing, as well. Lower
lease payments in relation to other financing methods mean that consumers
have the ability to drive more expensive vehicles. Manufacturers have increased
leasing incentives by more than $1000 in 2010 when compared to 2009 as
reported by Automotive News. Luxury offerings historically are where new
features and technologies are first introduced. 36 month leases permit
consumers to stay on the cutting edge and remain under warranty during the life
of the lease.
Swapalease.com's EVP of Operations, Scot Hall, noted, "The upward trend we
are witnessing in luxury leasing, as well as non-luxury leasing for that matter, is
great news for Swapalease.com because many will be part of our inventory in the
near future."
For more information about Swapalease.com or how to exit your lease early, call
866-SWAPNOW (866-792-7669) or
visit www.swapalease.com.
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. First conceptualized in 1997, Swapalease has evolved into a leading
automotive consumer online destination servicing all aspects of the automotive
leasing lifecycle including education, research, pricing, acquisition and lease
transfer. For more information, please call 866-SWAPNOW (866-792-7669) or
visit www.swapalease.com.
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