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In Leasing, U.S. Car Dealers Should Follow Canada's Lead

When it comes to lease programs, should U.S. Auto dealers take a page out of the Canadian dealer model? National car lease marketplace, Swapalease.com, works with customers in both countries and observed key differences in how lease programs are structured, with particular emphasis on the transfer of ownership elements between individuals:

  • Higher lease penetration rate in Canada, upwards of 40% on many vehicles (cars are also more expensive there)
  • Leasing transfers between individuals are handled at the dealership, not by individuals
  • Dealers can immediately sell the outgoing lessee into a new vehicle right on the spot
  • Dealers charge their own fee for lease transfer processing
  • Faster transfer process and revenue opportunities from service arrangements for both customers

Consumers have benefits as well under the Canadian model. Customers appreciate extra assistance from the dealership and enjoy the fact that it is handled all in one spot during a single visit. "In many cases, the incoming lessee can ask questions about the vehicle and receive inspection assurances on the spot, while the outgoing lessee can arrange for new transportation needs all in one day," said Scot Hall, Executive Vice President of Swapalease.com. "Since time is money in a lease, the outgoing lessees also benefit by the expedited time frame, eliminating extra monthly payments in a lengthy transfer approval process."

Views: 43

Tags: autos, car, cars, lease, leasing, shopping, transfer

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