Search the Community
Showing results for tags 'Leasing'.
Found 9 results
-
Most Electric Cars Sold in the U.S. Are Leased
William Maley posted an article in Automotive Industry
You find yourself in the showroom, ready to drive away in a new Chevrolet Bolt, Nissan Leaf, or Tesla Model S. But there is one big question that needs to be decided, do you buy or lease it? According to a report from Bloomberg, most buyers of EVs tend to lease. In the U.S., almost 80 percent of electric vehicles on the road are leased according to their report. It also says that 55 percent of plug-in hybrids are leased. More than 80 percent of BMW i3s are leased as an example. The key reason comes down to the belief that electric vehicles will continue to improve and buyers can simply trade them - similar to purchasing a new smartphone. "When there’s new technology coming out, and it’s coming out so rapidly, and you’re improving on it so constantly, typically people only want to lease it,” said Steve Center, a vice president of American Honda Motor Co., back in April. This bet seems to be paying off as the range of electric vehicles has been increasing, while prices of batteries have been going downward. “If you look at what can happen across the lifetime of a lease, you’re really talking about doubling the range of these vehicles,” said Edmunds analyst Jeremy Acevedo. The imbalance between leasing/buying an electric vehicle has also made used EVs to become a steal. According to auto analytics firm Black Book, compact electric vehicles sold in 2014 only hold 23 percent of their original sale price. A comparable internal combustion vehicle holds about 41 percent. Doing a quick search on Cars.com, we were able to find low mileage 2015 Nissan Leafs ranging $14,000 to $16,000. The big question is will this trend continue down the road, considering the likes the Model 3 and models coming from German automakers. Source: Bloomberg- 33 comments
-
- 1
-
-
- electric vehicles
- ev
- (and 2 more)
-
You find yourself in the showroom, ready to drive away in a new Chevrolet Bolt, Nissan Leaf, or Tesla Model S. But there is one big question that needs to be decided, do you buy or lease it? According to a report from Bloomberg, most buyers of EVs tend to lease. In the U.S., almost 80 percent of electric vehicles on the road are leased according to their report. It also says that 55 percent of plug-in hybrids are leased. More than 80 percent of BMW i3s are leased as an example. The key reason comes down to the belief that electric vehicles will continue to improve and buyers can simply trade them - similar to purchasing a new smartphone. "When there’s new technology coming out, and it’s coming out so rapidly, and you’re improving on it so constantly, typically people only want to lease it,” said Steve Center, a vice president of American Honda Motor Co., back in April. This bet seems to be paying off as the range of electric vehicles has been increasing, while prices of batteries have been going downward. “If you look at what can happen across the lifetime of a lease, you’re really talking about doubling the range of these vehicles,” said Edmunds analyst Jeremy Acevedo. The imbalance between leasing/buying an electric vehicle has also made used EVs to become a steal. According to auto analytics firm Black Book, compact electric vehicles sold in 2014 only hold 23 percent of their original sale price. A comparable internal combustion vehicle holds about 41 percent. Doing a quick search on Cars.com, we were able to find low mileage 2015 Nissan Leafs ranging $14,000 to $16,000. The big question is will this trend continue down the road, considering the likes the Model 3 and models coming from German automakers. Source: Bloomberg View full article
-
Sales of new cars have been reaching all-time highs and part of the reason comes down leases. The Detroit News reports that nearly one in three vehicles built for the U.S. is leased. Data from Edmunds shows 2.2 million vehicles were leased in the first half of 2016. Not only is this up 13 percent from the same time year, it is double the volume from 2011. Steven Szakaly, chief economist for the National Automobile Dealers Association tells the Detroit News there is plenty of space for more leases. “I think this could easily be 40 percent of the market,” said Sazkaly. Why have leases become popular? It comes down to the monthly payment. Compared with payments for auto loans, lease payments are on average 23 percent less. Leasing is also a popular option for younger folks. Jessica Caldwell, analyst for Edmunds says the reason is leasing is like a cell phone contract; low monthly payments and knowing that you can get into a new car in a few years. But while leasing is helping new car sales, some analysts are worried this could cause used car prices to go down. Why? A glut of turned in leased vehicles will flood the used car market, causing prices to be slashed to move metal. “They’ll swamp the market, they’ll force residuals down,” said Sean McAlinden, chief economist for the Center for Automotive Research. The increase in leasing is already having an effect on used car values. Tom Webb, chief economist for Cox Automotive Inc., said 2.55 million vehicles came off lease last year. That number will increase to 3.1 million this year. Automakers are now figuring out ways to sell this glut of vehicles while keeping values up. Source: The Detroit News View full article
-
Leasing Reaches Record High, Could Grow Further
William Maley posted an article in Automotive Industry
Sales of new cars have been reaching all-time highs and part of the reason comes down leases. The Detroit News reports that nearly one in three vehicles built for the U.S. is leased. Data from Edmunds shows 2.2 million vehicles were leased in the first half of 2016. Not only is this up 13 percent from the same time year, it is double the volume from 2011. Steven Szakaly, chief economist for the National Automobile Dealers Association tells the Detroit News there is plenty of space for more leases. “I think this could easily be 40 percent of the market,” said Sazkaly. Why have leases become popular? It comes down to the monthly payment. Compared with payments for auto loans, lease payments are on average 23 percent less. Leasing is also a popular option for younger folks. Jessica Caldwell, analyst for Edmunds says the reason is leasing is like a cell phone contract; low monthly payments and knowing that you can get into a new car in a few years. But while leasing is helping new car sales, some analysts are worried this could cause used car prices to go down. Why? A glut of turned in leased vehicles will flood the used car market, causing prices to be slashed to move metal. “They’ll swamp the market, they’ll force residuals down,” said Sean McAlinden, chief economist for the Center for Automotive Research. The increase in leasing is already having an effect on used car values. Tom Webb, chief economist for Cox Automotive Inc., said 2.55 million vehicles came off lease last year. That number will increase to 3.1 million this year. Automakers are now figuring out ways to sell this glut of vehicles while keeping values up. Source: The Detroit News -
G. David Felt Staff Writer Alternative Energy - www.CheersandGears.com Alternative Fuels & Propulsion in the News So the news has had some interesting stories this past few weeks in regards to GM and Honda getting closer as they co-develop Hydrogen auto's and self driving: http://www.hydrogenfuelnews.com/honda-and-gm-seek-to-expand-partnership-on-hydrogen-fuel-cells-and-driverless-vehicles/8525101/?utm_source=WW+Clean+Cities+News+Digest+--+October+20%2C+2015&utm_campaign=WW+Clean+Cities+News+Digest+--+October+20%2C+2015+&utm_medium=email According to the story, 2020 is the year that both GM and Honda will release for public purchase Hydrogen auto's and 2017 both plan to start selling driverless auto's. The future is near for those that cannot put down facebook or twitter to interact with the world and the planet they live on. The next story is from the green car report that shows that people who have EV's love em but would not buy them. Leasing is the way to go as the response is that auto companies will be making drastic updates on the EV's each year. The only exception to this is Tesla with their software updated system so people who bought one years ago can have the same software updates and features of the new ones. Currently the story states there are 7 EV's that lease for less than $200 a month for 36 months. The cheapest lease being the Fiat 500e which leases for $82.75 per month for 36 months. http://www.greencarreports.com/news/1100513_electric-car-drivers-love-em-but-dont-buy-em-why-leasing-rules?utm_source=WW+Clean+Cities+News+Digest+--+October+20%2C+2015&utm_campaign=WW+Clean+Cities+News+Digest+--+October+20%2C+2015+&utm_medium=email The final story is a very interesting one developing in Europe headed by Norway, where the governments push to have 50,000 EV's on the road by 2017 was reached in April of 2015 and as of September 2015 had reached 66,000. With the VW Diesel scandal it would seem Norwegians are taking advantage of the large government subsidy to buy EV's, especially Tesla's. They are also loving the government's free use of toll roads, free parking, free bridges and tunnels and free ferry tickets if you are an EV. With the average cost of charging an EV being only $1 and Petro at over $6 per liter, clearly with the high price of an auto in Norway, this kind of savings is having a big impact on getting people to go EV. Here is the current subsidies in Europe. Full story can be found here: http://www.nytimes.com/2015/10/17/business/international/norway-is-global-model-for-encouraging-sales-of-electric-cars.html?_r=1&utm_source=WW+Clean+Cities+News+Digest+--+October+20%2C+2015&utm_campaign=WW+Clean+Cities+News+Digest+--+October+20%2C+2015+&utm_medium=email
-
Prices of new vehicles are climbing to record highs and causing buyers to look at leases for lower monthly payments. According to CNBC, a new report from Experian Automotive found that 31.46 percent of vehicles sold in the first quarter were leased. This is up from the 24.05 percent who chose to lease five years ago. The report also reveals that that the average monthly payment for a new vehicle loan was $488, up $14. But, the average lease payment was down $7 to $405. "The difference between a monthly payment for those leasing a new vehicle versus those who buy new is almost $100," said Melinda Zabritski, senior director of Experian Automotive. "Leasing has become more popular because the price of vehicles continues to go up. Consumers are looking for lower monthly payments, which is why more of them are extending the terms of their loans." Source: CNBC View full article
-
Americans Are Leasing Vehicles At A Record Number
William Maley posted an article in Automotive Industry
Prices of new vehicles are climbing to record highs and causing buyers to look at leases for lower monthly payments. According to CNBC, a new report from Experian Automotive found that 31.46 percent of vehicles sold in the first quarter were leased. This is up from the 24.05 percent who chose to lease five years ago. The report also reveals that that the average monthly payment for a new vehicle loan was $488, up $14. But, the average lease payment was down $7 to $405. "The difference between a monthly payment for those leasing a new vehicle versus those who buy new is almost $100," said Melinda Zabritski, senior director of Experian Automotive. "Leasing has become more popular because the price of vehicles continues to go up. Consumers are looking for lower monthly payments, which is why more of them are extending the terms of their loans." Source: CNBC -
Whenever an automaker reveals a new model at an auto show, they tend to have a difficult time trying to sell the current model. But Dodge is going to try something new they hope will alleviate that problem. The Dodge Double-Down will offer buyers a one-year lease on a 2014 Charger and Challenger starting on April 17, the same day the brand will be showing off the new 2015 versions of the two models. After a year, a buyer can move into a three-year lease on a 2015 model of either vehicle for the same payment and no more money down. If a buyer decides to buy either 2015 model, they'll get a $1,000 incentive. “If you have your eye on a new Challenger or Charger, there’s no need to wait for the new models to arrive. The Dodge Double-Up program lets you drive today’s Charger or Challenger and trade to the 2015 with no increase in payment. This is our way of thanking our loyal Charger and Challenger customers, and extending this offer to any new customers longing to get into one of these iconic muscle cars,” said Tim Kuniskis, Dodge Brand President and CEO, Chrysler Group LLC. Now there are exceptions to this deal. You cannot get a Charger SE or any SRT models under this plan. Also, you have you use the same dealer that you do the one-year lease to do the other part of the deal. Source: Automotive News (Subscription Required), Dodge William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] you can follow him on twitter at @realmudmonster. Press Release is on Page 2 Dodge Brand Offers ‘Double-Up’ Program on 2014 Dodge Charger and Challenger Get a 2014 Charger or Challenger now; trade to a 2015 Charger or Challenger and keep the same payment Innovative, industry-exclusive lease program offered through end of August 2014 No additional down payment required on eligible 2015 models Flexibility to choose a Charger or Challenger now and switch to the other model later Augmented reality App coming in May; experience 2015 Charger and Challenger on tablets and mobile devices April 14, 2014 , Auburn Hills, Mich. - New 2015 Dodge Charger and Dodge Challenger muscle cars are coming later this year, but there is no need to wait to get into one of these performance icons. The Dodge brand has crafted the “Double-Up” program for Charger and Challenger enthusiasts. Eligible customers can lease a 2014 Charger or Challenger for 12 months, and leave the dealership with a guarantee that when they return in a year and follow program rules they will have the same lease payment on a new 2015 Charger or Challenger. Customers can take advantage of this innovative program now through the end of August 2014. “If you have your eye on a new Challenger or Charger, there’s no need to wait for the new models to arrive,” said Tim Kuniskis, Dodge Brand President and CEO, Chrysler Group LLC. “The Dodge Double-Up program lets you drive today’s Charger or Challenger and trade to the 2015 with no increase in payment. This is our way of thanking our loyal Charger and Challenger customers, and extending this offer to any new customers longing to get into one of these iconic muscle cars.” Both the Charger and Challenger were strong sales performers during 2013. Last year, the Charger recorded its best annual sales since 2007, while the Challenger posted its best annual sales ever. Under this new “Double-Up” program, eligible customers may enter into a 12-month lease for a 2014 Charger (excluding Charger SE and Charger SRT) or a 2014 Challenger (excluding Challenger SRT). When their 12-month lease is up these eligible customers who follow program rules are guaranteed the same lease payment on a 36-month lease, with no additional down payment, on select all-new 2015 Charger or Challenger models. Customers may lease any 2015 Charger (excluding Charger SE and Charger SRT) and any 2015 Challenger (excluding Challenger SRT). If customers choose to purchase the 2015 model, they will receive $1,000 bonus cash toward the purchase of the vehicle. Customers must use the same Dodge dealership for both transactions, lease through Chrysler Capital and follow program rules for eligibility. Customers interested in this offer should see their Dodge dealer for program terms and conditions and further information. In addition to revealing the 2015 Dodge Charger and 2015 Dodge Challenger this week at the New York Auto Show (NYAS), the brand has created a "Dodge 2015 Experience," which provides consumers a unique browser-based 360-degree sneak preview of the new vehicles before they are available in dealer showrooms. Dodge enthusiasts attending the New York Auto Show, and those visiting Dodge dealerships afterwards, will have the opportunity to check out the "Dodge 2015 Experience" on iPads programmed with 2015 Charger and Challenger photos, videos and 360-degree exterior and interior views. They will also get the first peek at the upcoming three-dimensional augmented reality App coming in May. The App will allow consumers to experience the 2015 vehicles through their own tablets or mobile devices. Users can change the vehicle color and wheels, take 360-degree tours of the inside and outside of the new vehicles and drive their Chargers or Challengers on a virtual track. View full article
-
Dodge Tries A New One-Year Lease Program On The Challenger and Charger
William Maley posted an article in Dodge
Whenever an automaker reveals a new model at an auto show, they tend to have a difficult time trying to sell the current model. But Dodge is going to try something new they hope will alleviate that problem. The Dodge Double-Down will offer buyers a one-year lease on a 2014 Charger and Challenger starting on April 17, the same day the brand will be showing off the new 2015 versions of the two models. After a year, a buyer can move into a three-year lease on a 2015 model of either vehicle for the same payment and no more money down. If a buyer decides to buy either 2015 model, they'll get a $1,000 incentive. “If you have your eye on a new Challenger or Charger, there’s no need to wait for the new models to arrive. The Dodge Double-Up program lets you drive today’s Charger or Challenger and trade to the 2015 with no increase in payment. This is our way of thanking our loyal Charger and Challenger customers, and extending this offer to any new customers longing to get into one of these iconic muscle cars,” said Tim Kuniskis, Dodge Brand President and CEO, Chrysler Group LLC. Now there are exceptions to this deal. You cannot get a Charger SE or any SRT models under this plan. Also, you have you use the same dealer that you do the one-year lease to do the other part of the deal. Source: Automotive News (Subscription Required), Dodge William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] you can follow him on twitter at @realmudmonster. Press Release is on Page 2 Dodge Brand Offers ‘Double-Up’ Program on 2014 Dodge Charger and Challenger Get a 2014 Charger or Challenger now; trade to a 2015 Charger or Challenger and keep the same payment Innovative, industry-exclusive lease program offered through end of August 2014 No additional down payment required on eligible 2015 models Flexibility to choose a Charger or Challenger now and switch to the other model later Augmented reality App coming in May; experience 2015 Charger and Challenger on tablets and mobile devices April 14, 2014 , Auburn Hills, Mich. - New 2015 Dodge Charger and Dodge Challenger muscle cars are coming later this year, but there is no need to wait to get into one of these performance icons. The Dodge brand has crafted the “Double-Up” program for Charger and Challenger enthusiasts. Eligible customers can lease a 2014 Charger or Challenger for 12 months, and leave the dealership with a guarantee that when they return in a year and follow program rules they will have the same lease payment on a new 2015 Charger or Challenger. Customers can take advantage of this innovative program now through the end of August 2014. “If you have your eye on a new Challenger or Charger, there’s no need to wait for the new models to arrive,” said Tim Kuniskis, Dodge Brand President and CEO, Chrysler Group LLC. “The Dodge Double-Up program lets you drive today’s Charger or Challenger and trade to the 2015 with no increase in payment. This is our way of thanking our loyal Charger and Challenger customers, and extending this offer to any new customers longing to get into one of these iconic muscle cars.” Both the Charger and Challenger were strong sales performers during 2013. Last year, the Charger recorded its best annual sales since 2007, while the Challenger posted its best annual sales ever. Under this new “Double-Up” program, eligible customers may enter into a 12-month lease for a 2014 Charger (excluding Charger SE and Charger SRT) or a 2014 Challenger (excluding Challenger SRT). When their 12-month lease is up these eligible customers who follow program rules are guaranteed the same lease payment on a 36-month lease, with no additional down payment, on select all-new 2015 Charger or Challenger models. Customers may lease any 2015 Charger (excluding Charger SE and Charger SRT) and any 2015 Challenger (excluding Challenger SRT). If customers choose to purchase the 2015 model, they will receive $1,000 bonus cash toward the purchase of the vehicle. Customers must use the same Dodge dealership for both transactions, lease through Chrysler Capital and follow program rules for eligibility. Customers interested in this offer should see their Dodge dealer for program terms and conditions and further information. In addition to revealing the 2015 Dodge Charger and 2015 Dodge Challenger this week at the New York Auto Show (NYAS), the brand has created a "Dodge 2015 Experience," which provides consumers a unique browser-based 360-degree sneak preview of the new vehicles before they are available in dealer showrooms. Dodge enthusiasts attending the New York Auto Show, and those visiting Dodge dealerships afterwards, will have the opportunity to check out the "Dodge 2015 Experience" on iPads programmed with 2015 Charger and Challenger photos, videos and 360-degree exterior and interior views. They will also get the first peek at the upcoming three-dimensional augmented reality App coming in May. The App will allow consumers to experience the 2015 vehicles through their own tablets or mobile devices. Users can change the vehicle color and wheels, take 360-degree tours of the inside and outside of the new vehicles and drive their Chargers or Challengers on a virtual track.
