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FEWER CAR LEASE CUSTOMERS SHOP ONLY FOR LOWEST POSSIBLE PRICE
Drivers Pay Closer Attention To Mileage Needs; Not Always Lowest Payment
CINCINNATI, OHIO (September 26, 2012)
Fewer drivers are running into mileage problems on their car lease according to the latest data from national car-lease website Swapalease.com. The online marketplace tracks drivers looking to exit their vehicle lease and has data that show drivers paying closer attention to mileage needs when working out terms with their dealer.
Car shoppers have traditionally looked to lease a car because of the low, monthly payment. Obtaining the lowest payment typically meant opting for lease terms with the fewest number of allotted miles on the contract. But drivers appear to be paying closer attention to their mileage needs while still shopping for the lowest-possible payment plan.
Total lease miles on Swapalease.com vehicle contracts have averaged 38,706 in 2012, down -12.5% from 44,248 in 2011. At the same time, average unused miles on vehicle lease contracts have gone up 15.5%, from 924 in 2011 to 1,067 today. A recent Swapalease.com survey also showed drivers less concerned with mileage compared with a few years ago.v
“We’re finding that drivers are more interested in working closely with the sales staff to identify their specific needs in terms of lease mileage,” said Jerry Bittner, General Sales Manager at Joseph Buick GMC. “This tells us that drivers are paying closer attention to the number of miles they need on the lease, instead of simply opting for the lowest payment with the least amount of allotted miles.”
Average lease terms have fallen on the website over the last several years. The majority of vehicle-lease contracts averaged 36-plus months just two years ago. Today a larger percentage of lease contracts on Swapalease.com are averaging 24-plus months in length.
Visit the Swapalease.com blog to see the recent comparison of mileage concerns among drivers.
www.swapalease.com is the first and only full-service online marketplace of in-process vehicle leases. With the goal of matching individuals who are currently leasing vehicles they wish to get out of, with individuals who are looking for short-term leases with attractive payments and no money down, it’s the perfect way to find the perfect vehicle for you.
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