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Online shopping for purchasing a car has never been more popular. But what about if you want to compare leases through an online channel? According to participants of a recent survey from Wantalease.com, many respondents wouldn’t even know where to start.
Executives at Wantalease.com and its sister marketplace, Swapalease.com, were curious about how average drivers feel about the online research and shopping process on a new lease.…
Added by John Sternal on July 23, 2014 at 7:01am — No Comments
Wantalease.com, the nation’s first online car lease marketplace for new lease deals, says certain GM models saw the largest drop in prices in June, with new lease deals offered on the Buick Regal Premium leasing for $229 per month, down from $426.46 in May. The Buick Lacrosse was being offered for $249 per month, down from $425.21 in May. The data was reported in the June Wantalease.com…Continue
Added by John Sternal on July 9, 2014 at 2:05pm — No Comments
The 36-month lease has long been the norm in auto leasing circles, but Toyota and Chrysler are beefing up their 24-month lease offerings. According to a report in Automotive News:
"Toyota is seeing a strong shift into two-year leases this year, a trend that promises quicker customer turnarounds and fuller used-car inventories down the road. At Toyota…Continue
Added by John Sternal on July 1, 2014 at 10:12am — No Comments
Swapalease.com, the nation’s largest car lease marketplace, reports lease credit approvals during the month of May were 60.6%, the lowest monthly level of the year and down from January when the approvals rate was at 70.6%.
Despite the overall approvals rating sliding down from a 2014 high in January, Swapalease.com attributes the recent slide to a significant higher number of applications over the last two months. In fact, 44.7% more applications have been processed in May and April…Continue
Added by John Sternal on June 25, 2014 at 6:16am — No Comments
Swapalease.com works with thousands of people each year looking to escape their lease contract before end of term for a variety of reasons. For the most part, people look to escape simply because they can no longer afford to make the payments, they’re bored and ready for something different, or they’ve had a change in their lifestyle (new baby on the way).
But a new crop of reasons has started to gain traction from drivers across the country. While many of these reasons are…
Swapalease.com, the nation’s largest car lease marketplace, released its latest report on vehicle incentives from May, and one particular area stood out: Despite all the attention on recalls, few GM brands are currently listed with a cash incentive.
Cash incentives are a normal practice in the world of automotive sales, but what makes this report different is that the Swapalease.com marketplace involves person-to-person transactions. According to incentives data from May listings,…Continue
Added by John Sternal on June 10, 2014 at 6:01am — No Comments
Here is this week's Used Car Market Report with the latest data from Black Book. What a week it has been for the Editorial team at Black Book! From viewing auctions online and the editors actual attendance, we were hands on with at least twelve auctions, to go along with the sixty-three physical auctions the Black Book survey personnel attended and reported the actual market activity from.Throw in the numerous electronic data feeds and we have a great feel for the market activity.
Added by John Sternal on June 9, 2014 at 8:30am — No Comments
According to Black Book® data, the average price of a used vehicle for model years 2008-2012 overall dipped slightly during May, the beginning of a summer season that typically sees higher depreciation compared with spring levels. Average segment prices saw -0.4% depreciation in May compared with the previous month (+0.9% in April). Domestic cars changed -0.5%; import cars changed -0.9%; domestic trucks gained +0.5%; and import trucks changed -0.4%. Average pre-recession depreciation is…Continue
Added by John Sternal on June 5, 2014 at 9:10am — No Comments
Help grads get rid of their car.
According to the National Retail Federation, Americans are on track to spend over $4.7 billion in cash, gift cards, clothing and electronics for graduates this year. They're also facing a still-tough job market. Today’s crop of new B.A.s are staring at roughly 8.5 percent unemployment and 16.8 percent underemployment, according to the…
Added by John Sternal on June 4, 2014 at 11:59am — No Comments
Here is this week's Used Car Market Report with the latest data from Black Book. Last week was a semi-short week as we all had the chance to remember and honor those who have served in the military. No matter where a holiday falls there is some effect on the rhythm of the auctions and buying and selling needs of the wholesale markets.
Overall the changes to the values were more stable with no extremes in the level of change. Even though there were comments within the Black Book survey…Continue
Added by John Sternal on June 2, 2014 at 11:57am — No Comments
Swapalease.com, the nation’s largest car lease marketplace, says its customers continue to escape their car leases at a near-record pace. According to data from April listings, car lease drivers in April planned to escape their lease contracts 15.3 months into their lease, slightly off the record pace set back in January of 13.9 months.
Based on lease contracts with an average term of 36 months, the current pace of exit continues to expedite in pace. Prior to 2014, the average…
The majority of consumers shopping for a new car lease are frustrated with the disconnect between advertised automotive deals and the cars they end up looking at inside the dealership. These findings were part of a joint online study between Swapalease.com and Wantalease.com from April 10 – April 24, 2014, presented to more than 1,000 drivers across North America. Complete results of the study may be found by clicking here.
Millions of cars…
Added by John Sternal on May 20, 2014 at 10:36am — No Comments
Here is this week's Used Car Market Report with the latest data from Black Book. It has been an extremely busy week for the Editors at Black Book attending physical auctions and watching other auctions online, while also analyzing thousands of records from remarketing data feeds from all across the country, We even had the opportunity to get hands on insight into a couple of significantly refreshed models that are soon to be hitting the new car market through the franchised dealers. Getting…Continue
Added by John Sternal on May 19, 2014 at 8:06am — No Comments
The company recently introduced a new, guaranteed "buy back" program that offers to buy back a Model S between 36 – 39 months at a guaranteed residual.…
Added by John Sternal on May 15, 2014 at 5:30am — No Comments
Despite growing supply challenges, profitable portfolio growth opportunities remain for automotive lenders according to a new white paper from Black Book Lender Solutions. The new white paper: “Finding Portfolio Growth Amidst Changing Supply Levels” may be downloaded by clicking here.
Increasing supply has become more of…
Added by John Sternal on May 13, 2014 at 7:50am — No Comments
Yes, there are car shoppers in 2014 that still look for a cassette deck in a vehicle. Swapalease.com analyzed more than 20,000 vehicle searches on its popular car lease marketplace to find items and features people still seek in a car or truck. Some items were popular decades ago, while others have traditionally been only for select tastes.
T-Tops: If you’re old enough to be a fan of “Smokey And The Bandit,” you’ll realize why T-Tops are still a fan favorite for some. These car…
Added by John Sternal on May 9, 2014 at 6:46am — No Comments
According to Black Book data, the average price of a used vehicle for model years 2008-2012 overall increased in price during April, capping a strong spring selling season. Average segment prices saw +0.9% retention in value compared with the previous month (-0.3% depreciation in March). Domestic cars gained +2.7%; import cars gained +0.2%; domestic trucks gained +2.2%; and import trucks gained +0.5%. Average pre-recession depreciation is historically between -1% and -2% monthly, and Black…Continue
Added by John Sternal on May 8, 2014 at 8:42am — No Comments
Welcome to this week’s edition of Beggs on the Used Car Market, with the latest valuation data from Black Book. Now that we have reached the fifth month of the year, unless you are in Dutch John, Utah, or some other location of 8,000 feet of elevation or higher, we are probably through with the winter type weather, finally. We may also be past the peak of spring used car activity and…Continue
Added by John Sternal on May 5, 2014 at 8:08am — No Comments
Black Book, a division of Hearst Business Media Corporation that provides new- and used-vehicle valuation services, custom data licensing solutions, as well as lender origination and risk analysis, has partnered with Chicago-based Cars.com to become the company’s official vehicle valuation service.
“Cars.com is a leader in providing consumers with the resources they need during the buying and selling process,” said Black Book’s Jared Kalfus, vice president of data licensing. “We…
Added by John Sternal on April 28, 2014 at 8:42am — No Comments
Swapalease.com, the nation’s largest car lease marketplace, reports lease credit approvals during the month of March were at 69.6%, up from last month’s yearly low of 66.7%. The 69.6% approvals mark is also the level of the last three months, indicating a credit approvals landscape that continues to hover near the “healthy” mark of 70%.
The credit approvals rate over the last twelve months stands at 71.7%. Prior to March, the approvals rate had continuously dropped from early fall…
Added by John Sternal on April 22, 2014 at 11:02am — No Comments