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Swapalease.com, the nation’s largest car lease marketplace, reports average car lease prices for cars on the road rose 1.2% year-over-year according to October new listings. Monthly prices averaged $586.00 in October compared with $579.93 in October 2012. These prices compare to an average of $582.02 in September.
Among today’s popular leases, The Infiniti G37 saw the largest year-over-year increase, jumping 20.2% ($535.81) compared with last October ($445.86). The Toyota Camry (+10.6%), Ford Escape (+13.0%) and Ford Fusion (+17.1%) all saw YOY price jumps on monthly lease payments recorded in the Swapalease.com marketplace.
The Ford Focus saw the largest monthly payment price drop, falling -19.7% ($326.64) compared with October last year ($407.00). The Audi A4 (-18.0%), Volkswagen Jetta (-10.6%) and Toyota Prius (-7.7%) all saw YOY prices fall compared with last October.
Representing a truly great deal on the Swapalease.com marketplace, a Chevrolet Traverse with eleven months remaining was the least expensive monthly payment recorded as a new listing in October, registering $109.00 monthly. Chevrolet Malibu had the most new listings under $250.00 monthly of any car or truck in the system during the month.
“We’re keeping an eye on several makes and models that have prices trending in both directions,” said Scot Hall, Executive Vice President of Swapalease.com. “Lease pricing will get particularly interesting heading into 2014 now that the current lease penetration rate is holding near 25 percent.”
Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. More specifically Swapalease.com matches individuals who want to get out of their lease with people who are looking for short-term lease agreements. Prospective buyers can search the listings for the exact vehicle they want, and then register for a nominal fee, allowing them to use Swapalease.com’s safe online system to contact the prospective seller and close the deal.