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Swapalease.com, the nation’s largest car lease marketplace, reports lease credit approvals during November continued to increase, fueling even more end-of-year momentum for lease applications and vehicle exchange rates. November saw an approvals rate of 84.2%, the second-highest monthly lease approvals rate during 2014 (August saw 85.7%).
The monthly approvals rate was driven by early holiday lease campaigns and offers, with a rising number of lessees exchanging vehicles from brands such as Chrysler, Mazda, Jeep, GMC, Ford, Buick and Chevrolet. Among luxury brands, Lexus saw its typical seasonal jump in exchange requests.
Year-to-date, Swapalease.com has recorded a lease credit approvals rate of 69.7%, the highest YTD rate since January when 2014 started out with a 70.6% approval rate.
Lease approvals are expected to maintain their recent momentum driven largely by the consumer’s appetite to leverage lease finance options in the showroom. According to…
Conventional wisdom among many end-of-year car shoppers is to choose the outgoing model year in order to save a few dollars. However, an analysis by nationwide car lease marketplace, Swapalease.com, shows consumers can often get a better lease deal if they opt for the incoming model year, even in December when end-of-year negotiating heats up.
For example, consumers can lease a 2015 Toyota Camry for $293.71 per month, compared to a new 2014 model priced at $319.22. A 2015 Chevrolet Malibu lease is priced at $246.21 per month, while a new 2014 model is priced at $319.74. The reason the 2015 model is cheaper in a lease environment has everything to do with the residual, which in most cases will be higher than that of the 2014. A higher residual value equates to a lower monthly payment for the consumer.
End-Of-Year Lease Negotiation Tips
1: The price of the vehicle (known as the “cap cost”) is the primary point of negotiation on a…
Hello and welcome to this week’s Used Car Market Report, with data and insights from Black Book. Thank you for tuning in and your interest in Black Book’s insight into the market for the past week. And what a week it has been with our editors tracking and reporting the used market, working on some residual forecasting for the lease and risk markets and also getting specific details into a couple of totally new products for the US market. A relatively new segment, with a tremendous increase in the number of players, is the Sub-Compact Crossover segment. The Chevy Trax now joins the Nissan Juke, Buick Encore, and Mitsubishi Outlander Sport in this segment. Already announced and soon to be available are the Honda HR-V, Fiat 500X, and Jeep Renegade, and I am sure there will be more.
Another segment with new entries includes the small vans. Ford with the Transit Connect started this…
I was thinking this morning about how rockets and Fixed Operations Customer Management are related. With all the news about the different companies striving to become the next NASA, it reminded me that we are all in a "Space Race" even though I know that the two subjects seem completely unrelated and are not even in the same Encyclopedia volume.
And I submit for your consideration that driving a rocket into space and good Customer Service Management is exactly the same. Let me explain why.
Your Fixed Operations Service Business is your rocket ship. In this ship is everything you need to survive when venturing into the hostile environment that is the Customer Service space. In your ship (Service Department) you will find all of your life support systems, everything you need like electrical power, data bases, computer systems and communications.
You communicate with your Customers using phones, text, email and even…Continue
Black Book® announced today that it has promoted Jared Kalfus to Senior Vice President of Sales where he will expand his current role overseeing Data Licensing and Lender Solutions to now include the sales team of Black Book’s Activator Division. The promotion further solidifies Black Book as the leading provider of data and insight to the broader automotive industry, which relies on data-driven solutions to serve customers across every aspect of the automotive supply chain.
With twenty years of experience in the automotive industry, Mr. Kalfus joined Black Book in June, 2012, where he began his tenure as Vice President of Automotive Licensing. Mr. Kalfus will remain responsible for overseeing the national sales team focused on licensing Black Book data to automotive OEM’s, Auctions, VAR’s, and marketing companies. He also leads the Black Book Lender Solutions team that supports automotive lenders, finance customers, banks, credit unions and title lenders.
Hello and welcome to this week’s Used Car Market Report, with insights from Black Book. As we just celebrated Thanksgiving and also just completed the first week of December, and the results of the market study show a level of change not familiar for this time of the year. The activity strength of the new car sales could be rubbing off onto portions of the used market. Both the average segment change of the cars at -$40 and the trucks at -$12 are well below year ago levels of -$50 on the trucks and similar on the cars at -$34, and the lowest level of weekly declining change since the May 2, 2014 -$3 with the cars and the -$9 for the trucks for the week of June 6, 2014. These most recent changes were the results of the most average daily adjustments at 2249 per day throughout the week since the…Continue
Let me start off by stressing the word social, these are going to be topics, events and days of interest that you can use to be conversation pieces with people in your online communities. None will be car specific but instead topics that might stimulate two-way conversations and recognition. People are pretty smart, they know ABC Toyota sells Toyota’s, you don’t have to tell them every day.
These topics will fall into the fun section of my 4-3-2-1 Rule of Facebook Posting. Each month, I will give you a list of ideas that you can use on your social networks throughout the month. Please take the time each month to make an additional list of other relevant topics for your local community.
What is an RSS Feed?
RSS (Really Simple Syndication) is a way to receive regularly updated web content and gather it in one place for easy reading. Instead of constantly checking multiple blogs, news sites, podcasts and other sources throughout the day, one can subscribe to feeds with an RSS reader, which will automatically keep itself updated with the latest developments as…
Does Your Dealership Website Get Its Fair Share Of Facebook Traffic?
Just how successful are the “December To Remember” campaigns? Swapalease.com analyzed vehicle search and consideration patterns from the 2013 holiday season to gauge which luxury brands see a rise in consumer consideration during the holiday season. Lexus saw the biggest increase in search and consideration patterns, but only by a slim margin.
Swapalease.com is the nation’s largest online lease marketplace, processing tens of thousands of lease exchanges each year for today’s most popular cars on the road. The company reviewed more than 700,000 website searches and consideration patterns from November to the end of December, 2013. With this data, Swapalease.com was able to determine which of today’s most popular luxury brands see the biggest rise in search and consideration activity while the “December To Remember” advertisements run.
During December of 2013, Lexus vehicles saw an increase in search and consideration activity of +0.6% compared with its level of…
Part of what we do at Petrol Digital is a**** a dealers Facebook page. Here are three of the most common things dealers are doing wrong on Facebook.1. Not replying to reviewsThe Facebook 5 star…Continue
It's the end of summer and time to get back to work. However, are you noticing that the soft summer season seems to be lasting a bit longer?We think it is more than just seasonal - and in fact - have…Continue
Banking the with the most competitive Automotive Floor-Plan Lender will increase your profit marginWe offer Franchised and Independent Auto Dealers integrated financial solutions to help you sell…Continue
Recently, AutoTrader.com ran their own survey of 1,900 car buyers (300 of which were millennials) and came to the conclusion that "just 1 percent of car buyers use social sites to shop for a…Continue
Greetings everyone. Our company - Social Auto Leads - is putting together a report on the state of social media within individual dealerships. If you would like to participate (either anonymously or…Continue
Visit Northtowne Mitsubishi Kansas city to learn about new Mitsubishi, used car & auto repair. Premier KC Mitsubishi dealer providing the 2013-2014 Lancer, Outlander, Mirage, lancer Evolution,…Continue
Northtowne Mazda website offer you cars like the 2014 Mazda Mx-5, a crossover like the CX-5, or an ultra-efficient passenger car like the 2013 Mazda6 & 2013 Mazda3, our website offers an…Continue
FaceBook, Twitter, Google Plus and some other social media sites are being used by businesses for quite some time now. Even I am one of those but do these sites really help your business is what I…Continue
Everyone wants to increase sales, so what is NEW in your marketing plan to help you reach your 2014 sales goals? Do you have any of the following 7 strategies in your marketing mix? If so, which…Continue