SWAPALEASE.COM UNVEILS INAUGURAL QUARTERLY AUTO LEASE TRENDS REPORT
Report Shows Price, Brand & Consumer Demographic Trends on Auto Lease Activity for Q3
Cincinnati, OH (November 14, 2016)
Swapalease.com, the nation’s largest online car lease marketplace, today released it's first-ever quarterly report onauto leasing, available by clicking here. The auto lease trends report covers a variety of lease pricing, brand, and consumer demographic data on auto leases during the third quarter, 2016. Swapalease.com will begin producing similar reports each quarter to offer data and insight that tracks the progress of auto lease activity in the U.S.
The report shows that Q3 '16 versus Q3 '15 search traffic for most domestic auto leases is up compared to European and Asian auto leases. Buick (+9%), Cadillac (+4%), Chevy (+3%), GMC (+5%), and Ram (+8%) are all up comparing year-over-year quarterly data. Most likely due to the scandal, Volkswagen search traffic is down –28% for the same period. Overall search traffic during Q3 with no comparison to previous quarters, BMW holds the largest share of search traffic at 15%, followed by Mercedes-Benz (12%), Lexus (9%), and Ford (8%).
Regarding people looking to escape their leases during the third quarter, incentives on listings averaged $673.00, up slightly from a year ago ($641.00). Men are listing vehicles with an average incentive of $560.00, versus women listing incentives of $470.00. The average American lessee is looking to get out of their vehicle a little earlier today, with average miles remaining at 23.2, compared to 21.5 a year ago.
In terms of what people are paying for compact and smaller cars, the average man has a monthly payment of $381.67, versus $416.95 for women. However, men are averaging $492.56 for utility vehicles, versus $417.98 for women. The average payment both men and women would like to be paying is roughly $458.15 per month. The report also uncovered that approximately 25% of households have two or more leases in their driveway. Additionally, nearly 75% of drivers say they'd want to switch to a different brand of vehicle when they shop for their next car or truck.