LeaseTrader.com Reports Leasing Trends for July 2011
The most recognized name in car leasing, LeaseTrader.com has reported trends from its car-leasing marketplace during July 2011. The highest percentage of short-term lease takeovers compared to the rest of the vehicle market were on Japanese vehicles including Toyota, Lexus and Honda.
Customers continued to absorb existing leases with very short terms remaining. This is credited in large part to the dreary employment data, the state of the economy and pressure on the public for the ongoing debt negotiations in Washington D.C. As retail inventories slowly bounced back in July, lease customers continued to takeover existing leases with less than 12 months remaining to carry them into 2012. 14.3% of those taking over the lease said they planned on buying it out, compared with 17.1% in June.
Lexus and Toyota continue to rebound from the inventory and production problems resulting from the setbacks of production in March and both saw persistent lease buyout action from lease takeovers.
The first Chevy Volts Appeared in U.S. lease transfer Marketplace early in 2011 with a retail lease deal offered at 36 months, $350 per month. The electric car from General Motors saw the majority of early listings in California, Michigan and New York with most drivers saying the decision to go with the Volt had more to do with life style change than vehicle performance.
“We anticipate this level of short-term leasing to continue to increase even after Japanese inventories return because of the increased appetite for change in vehicle preference,” said Sergio Stiberman, CEO and Founder of LeaseTrader.com. “As more and more of today’s new leases move off the dealer lots we expect to see them coming into our marketplace about 12-18 months from now.”
This story posted by LeaseTrader.com, the automotive service company that lets people transfer out of their Car Leases early. If you're looking to swap a lease or transfer out of your car lease, please visit www.leasetrader.com