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Swapalease.com, the nation’s largest online car lease marketplace, today released its quarterly lease trends report for the fourth quarter, 2016 (click here to access the report). The report shows that Hyundai, Subaru and GMC each saw noticeable gains in search traffic for the online marketplace, which matches a person wanting out of their lease with an individual looking to take over the remaining contract.
GMC was the only U.S. domestic brand to see gains in search traffic on the site compared to the previous quarter, with Ford, Chrysler and Ram each falling 6% during the last quarter of the 2016 campaign. Mercedes-Benz and Audi gained 3% and 2%, respectively, for European brands; and Hyundai gained 25% and Subaru gained 15%.
While BMW share of overall market activity overall fell from 15% in Q3 to 12% in Q4, it keeps its hold on the top share over Mercedes-Benz (11%) and Lexus, which gained from 9% to 10% over the last two quarters.
The average monthly payment for those leasing vehicles from $445.85 in Q3 to now $435.35 during Q4. What’s more, the average incentive when listing a vehicle lease for transfer fell slightly, from $673.00 in Q3 to $671.00 in Q4; however, this is up from $657.00 during the same period a year ago.
In terms of what types of vehicles Americans are leasing, Midsize Cars saw the most noticeable jump from 14.9% in Q3 to 16.8% in Q4; SUVs fell from 16.6% in Q3 to 13.9% in Q4.
“Overall, the Q4 report shows continued strength and stability in the lease market today,” said Scot Hall, Executive Vice President of Swapalease.com. “Hyundai’s jump in search traffic and demand is a clear indication of the brand’s strength and popularity. We hope they will make modifications to their inflexible lease policy so their fans can enjoy more leasing from them in the future.”
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. For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com. ;