List of News and Information about leasing on 4WheelsNews.com
News and Information about leasing
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For motorists in the United States who think that driving a new Alfa Romeo is worth it, here comes some very good news. Alfa Romeo is slashing $100 off the usual monthly lease for the new Giulia. More specifically, Alfa Romeo is offering US drivers a 24-month lease deal that entails a down payment of just $3,299 and a monthly payment of $299.
This seemingly sweet lease offer comes as the Italian premium carmaker seems to be having some trouble to meet its expectations for the Alfa Romeo Giulia premium mid-size sedan in the US. Although the Italian carmaker has seen sales of the Giulia increase month by month since January 2017, it has yet to breach the 1,000 monthly sales barrier. From a measly sales number of 70 units in January 2017, the Alfa Romeo Giulia crawled its way up to 992 examples in June 2017, for a total of 3,475 units in the first six months of 2017. The increase seems encouraging, but it falls short of the expectations that the Giulia would be a big seller.
For $299 a month, this lease deal is enticing for customers looking for a gorgeous car with Italian design and heritage, state of the art technologies as well as great handling and sprinting capability. This offer refers to a base, rear-wheel drive version of the Alfa Romeo Giulia (with 22L package), with the pricing based on an MSRP (manufacturer’s suggested retail price) example of $38,990.Read the entire article Alfa Romeo dangles $299 a month lease deal for Giulia sedan in the US
Hyundai revealed that it is offering customers more options to drive the Ioniq EV. Back in November, the brand revealed that it was offering a subscription plan and now it has disclosed just how much this will cost.
The lowest appears to be a monthly fee of $275 plus tax for a total of 36 months. However, it does require you to put in a down payment amounting to $2,500. But if you happen to buy the Ioniq EV in California, the state offers a rebate totaling $2,500. This makes sense considering that Hyundai will only be making this subscription plan available in California. Take note though that it will not cover the entire state as for now it will only include three counties: Riverside, Orange, and Los Angeles. The brand did say that later this year this subscription will be offered in San Diego and Northern California.
There will be three trims offered. The base model is the Electric trim. The other two are Limited, which costs $305 plus tax, and the Limited with the Ultimate Package, offered at $365 plus tax. Assuming that all trims will have the “zero-money” down initiation fee plus the fact that customers will be required to get a three-year subscription, this means that Electric trim can go as high as $9,900. For the Limited it will be $10,980, and the Ultimate Package will come at $13,140.Read the entire article Customers can lease Hyundai Ioniq EV for a low $275 per month
Black Friday is often regarded as a great day for consumers in a number of areas in the United States, including California. This is particularly because on this specific day of the year – a day just after Thanksgiving – companies are racing to offer the lowest prices and the best deals available.
A Fiat dealership – Orange Coast Fiat in Costa Mesa, California -- is riding on this wave by offering the new Fiat 500e all-electric hatchback for lease for just $49 per month. Yes, the good people of California could avail of this lease for less than $50 a month, good for 36 months. Additional good news is that those who availed of this lease don’t have to shell out anything as a down payment.
However, this promo is only a “Limited Inventory” lease, which means only a few units will be available. Of course, this promo is – so far – available only at Orange Coast Fiat and there has been no news yet of other Fiat dealers offering a similar deal. Orange Coast Fiat’s Limited Inventory $49 per month lease deal for the new Fiat 500e all-electric hatchback is available from November 25 (Black Friday) to November 27.Read the entire article California dealer offers $49/month lease deal on Fiat 500e for Black Friday
Back in January of this year, Chevrolet revealed the details of the Bolt electric vehicle. At around this time, the brand also disclosed that the Bolt would come with a $30,000 base price, after considering the federal tax credit of $7,500. Thus, for an electric vehicle that delivers a range of at least 200 miles, this price can be seen as affordable. However, there remains to be interested customers that will either not have the $30,000 easily on hand, hesitant to spend such amount even if they have it, or will not spend it in payments.
That’s why Chevrolet has come up with a program that will allow customers the chance to drive such a vehicle. According to Electrek, GM Financial has started a leasing program specifically for the Bolt with no cash down and a minimum amount of $309 per month after incentives.
That said, it is obvious that should a customer opt to lease a Bolt instead of purchase one, that same customer will not be able to take advantage of the federal tax credit. What General Motors will do is to pass this to the customer resulting in a lower monthly payment. While an $80 fee per week may be difficult for some, this remains to be a good bargain considering that the Bolt was named by Motor Trend as Car of the Year.Read the entire article Chevrolet reveals Bolt leasing program at $309/month
Ally Financial Inc. has recently been named as the preferred U.S. auto lender of Aston Martin Lagonda Ltd. as part of a move to boost sales. Ally used to be GM’s financing arm. In a statement, the luxury sports car maker said that beginning in late May, American buyers will be able to access Ally’s lease and retail finance program at the brand’s 37 dealerships for all core sports cars.
In this statement, Julian Jenkins, president of Aston Martin’s Americas unit, said that it searched extensively for a financial services provider. He also said that Ally will be able to meet its customers’ high standards. Aston Martin, the sole global luxury-auto brand that doesn’t belong to a bigger group, hopes to increase sales to be more competitive.
Aston Martin has been trying to raise money for research and for development of new models. Daimler AG, which supplies engines and electronics to Aston Martin, revealed last August that it has increased its stake in the sports car brand to 5%.Read the entire article Aston Martin names Ally Financial as preferred auto lender in US
SUVs, crossovers and pickups are expected to post the most off-lease growth in 2019 as the demand for these vehicles continues to rise, according to analysts from Kelley Blue Book. For 2014, cars led as the top segment coming off lease. Based on vehicles leased in 2014, off-lease volume of full-size pickups in 2019 will surge by 93 percent from last year’s levels.
On the other hand, off-lease volume for full-size SUVs and full-size crossovers combined is expected to hike 77 percent while off-lease volume of luxury compact SUVs and crossovers combined is projected to surge 71 percent. Off-lease volume of compact SUVs and crossovers combined is seen to grow 59 percent.
While non-luxury utility vehicles accounted for 28 percent of new-vehicle sales, it represented 46 percent of total industry volume growth, according to Eric Ibarra, director of residual value consulting at KBB. This indicates a shift in consumer preference from cars to trucks and utility vehicles.Read the entire article SUVs, crossovers and pickups projected to log most off-lease growth in 2019
There would be a “steady lift” in leases as a portion of its sales volume in the United States next year, according to Acura division general manager Mike Accavitti. He noted that leases currently account for less than 40 percent of Acura’s volume, which is below the average in the luxury vehicle segment.
Accavitti remarked on the sidelines of the event by American Honda that Acura is behind the segment in terms of leasing percentage partly because many of its customers are from mass-market brands and are as not familiar to leasing as buyers from other luxury brands.
Acura’s customers traditionally have been loyalists or buyers moving up from Japanese brands like Honda, Nissan or Toyota.Read the entire article Lease expected to account for 42-45% of US sales by 2015, says Acura boss
Toyota Motor Corp. is so confident in a future for fuel-cell vehicles that it plans to start selling its Mirai fuel-cell sedan in late next year. Mirai, which means “future” in Japanese, expresses Toyota’s confidence that hydrogen would be accepted by consumers in the United States as a clean fuel alternative in the next five years.
Toyota is planning to sell nearly 200 Mirai sedans when commences sale in California in late 2015 and 3,000 units by the end of 2017, with the increase in number coming from expanded marketing in Northeast US. Toyota Chairman Takeshi Uchiyamada said the Toyota targets around 700 sales of the Mirai globally in 2015 and “tens of thousands by 2020.”
Toyota plans to offer lease terms similar to Hyundai’s -- payments of $499 over 36 months, with an initial payment of $3,649 at signing. The carmaker also plans to offer the Mirai for purchase at $57,500.Read the entire article Toyota Mirai is priced at $57,500 before incentives in the US, lease for $499/month
Tesla announced on its website that the US Bank is now offering lease for buyers of the Model S, in the United States of course. What’s more interesting is that the monthly lease payments will be lowered by as much as 25 percent. If you lease the Model S and you are not happy with the vehicle you can return it in the first three months and the remaining lease obligations is waived.
According to the manufacturer, the only catch is that you can’t immediately lease another Model S, For those who don’t know, leasing a car with Tesla involves no signatures or paperwork unless these are required by your state DMV.
Still, don’t forget to read the terms and conditions on the center screen. So, if you are interested in buying a new Model S you should take a look at the new Dual Motor All Wheel Drive options introduced by Tesla and priced at $4,000.Read the entire article US Bank offering compelling leasing for Tesla buyers in the United States
Porsche has already sold out the new Macan crossover for this year, and its buyers in the United States may have to wait for over six months before they could have their vehicles delivered, according to Detlev von Platen, chief executive of Porsche Cars North America. Because of the long wait, Macan buyers may become disappointed.
To address that, Porsche is offering very short-term leases on other Porsches -- Boxster or Cayman – to make the customers’ wait more worthwhile. The leases will run until the customer receives his or her Macan – whether it takes six months or more.
Von Platen said he hates it seeing first-time customers having to be told six to seven months before they could get to ride their own Porsches. The sports car maker expects around 80 percent of Macans to be sold to first-time Porsche buyers, von Platen said.Read the entire article Porsche offers short-term leases to waiting Macan customers
Toyota expects a substantial surge in two-year leases this year, which could mean faster customer turnarounds and fuller used-car inventories in the future. The expectation was based on the fact that Toyota Financial Services has seen so far this year leases covering periods of 27 months or less account for 17 percent of its lease portfolio – compared to just 4 percent in 2013.
For Lexus, two-year leases have accounted for 36 percent of its lease portfolio so far this year, from just 24 percent in 2013. The shift to two-year comes as Toyota Motor Sales U.S.A. depends more on leasing to move Toyota, Scion and Lexus vehicles.
Chrysler also had seen higher percentage of two-year leases this year, although Ford and Nissan are seeing a shift away. This meant that that industry penetration of under-27-month leases remained at around9 percent of all leases, according to TrueCar data on captive and third-party lease deals.Read the entire article Toyota is seeing shift towards two-year leases
Mercedes-Benz USA is expecting its dealership network to be stunned by a deluge of off-lease vehicles at some point. At the event, the brand may be forced to increasingly sell off-lease vehicles via non-Mercedes dealers, according to the company’s remarketing manager, Stephen Nicholson. He divulged that Mercedes-Benz USA would have around 200,000 units “coming back at some point.”
He said while Mercedes dealers will be prioritized for off-lease units, the proportion of sales via non-Mercedes channels would increase as overall volumes surge. Nicholson remarked that further engagement with non-Mercedes dealers is a way to have “the appropriate number of eyeballs on the vehicles.”
He added that Mercedes-Benz USA already has 365 dealers, and it has no plans add 365 more.Read the entire article Mercedes-Benz expects US dealers to be stunned by a deluge of off-lease vehicles
Tesla Motors Inc. is establishing a financing unit aimed at corporate buyers for its Model S premium electric sedan. This will allow small and medium-sized businesses to estimate the cost of leasing while configuring the Model S on Tesla’s Web site, the EV maker said in a statement.
The new Tesla Finance unit will be offering loans from partner banks as well as providing a resale-value guarantee available under the current lease-style program launched a year ago.
Tesla said that the financing options -- when combined with the fuel savings of Model S -- provide an “attractive value proposition.” The move comes as Tesla aims to hike its production of the Model S by 56 percent this year.Read the entire article Tesla sets up finance unit for Model S corporate buyers
A battle is looming between carmakers as they expect the number of vehicle owners coming off lease to surge in 2014. People who leased vehicles after the market rebound in 2010 and beyond are going back to dealerships in large numbers as their three-year leases expire. Carmakers are aiming to attract a big share of these new customers, who could provide a tail wind for continued US sales growth next year.
That could further extend the annual strings of US sales increases to five. "There is a tsunami of customers coming up," Jose Munoz, chairman of Nissan North America, told Automotive News in an interview. He remarked that the level of Nissan customers with leases ending next year is "coming back to pre-crisis mode, which is several times bigger" than the carmaker has had in the past years.
Leasing is growing thanks to low interest rates, easy credit and improving residual values – allowing carmakers to offer lower monthly payments while retaining profits. In the first nine months of 2013, leasing accounted for 23 percent of US new-car registrations, up from 13 percent for the entire 2009, according to data from Polk.Read the entire article Carmakers to compete over surge in off-lease customers next year
Toyota Financial Services is leveraging Toyota Motor Corp.'s AA- credit rating and cash to offer low rates and keep customers coming back. Since the carmaker’s credit rating is higher than General Motors and Ford Motor Co., Toyota Financial Services could offer more loans and may even take on riskier borrowers.
Toyota Financial Services manages more affiliated dealers' direct loans and leases in the US than any other captive lender or wholly owned finance arm of other carmakers. Toyota likewise employs intense data systems to keep its customer from shifting to GM or Ford. Mike Groff, chief executive of Toyota Financial Services, remarked that their strategy is built around loyalty and retention.
He said that the unit has “deepened” its use and analytics of data to “take better care of customers to encourage them to go back to Toyota and to go back to the seller of the car that they have." The contest for US market share has become tighter as Detroit carmakers are offering very competitive offerings.Read the entire article Toyota leverages high credit ratings to offer better leases
An increase in leasing in Brazil is expected to hike demand for new models as a tax incentive expires in the country. Anfavea, Brazil's auto-manufacturing trade group, is in discussions with the Brazillian government to adjust rules so that banks issue more leases, according to President Luiz Moan Yabiku. He said that new regulations should make drivers -- not banks as the autos' legal owners --responsible for any fines or taxes levied on leased vehicles.
According to Moan, local authorities force banks to pay fines or taxes when motorists try to avoid them, leading to the decline of leasing as a source of auto financing. He said that leasing accounted to about 1 percent of financed vehicles in 2013 from about 40 percent six years ago. "Leasing suffered a very big setback because some states started to charge back taxes and tickets to leasing companies rather than to lessees," Moan told Bloomberg in a Sept. 20 interview.
Leasing, however, may recover once temporary tax waivers and cuts applied on new-car sales end this year. Such recovery could help ensure a strong local auto market with output expected to hike to 5.7 million units by 2017, according to Anfavea. Carmakers are making BRL73.1 billion ($32.7 billion) in investments in Brazil to expand or construct plants through 2017.Read the entire article Leasing popularity expected to raise demand for new models in Brazil
The stylist and versatile Mercedes-Benz A-Class could now be availed in the United Kingdom from as low as £249 per month on Agility Personal Contract Purchase (PCP). Not only that, it comes with a three-year free servicing if the vehicle is registered before December 31, 2013. Attractive finance offers are also available on other Mercedes-Benz models.
For instance, the C 180 Executive SE Saloon could now be availed for £285 per month. Likewise, the Mercedes-Benz E 220 CDI SE Coupé and Cabriolet – sporting a new and charming look -- could now be availed for £399 per month. The vehicles also don as standard features like COMAND Online with Media Interface, DAB radio and Collision Prevention Assist.
Smart’s ‘edition 21’ – targeted towards younger drivers over the age of 21 – promises hundreds of pounds of saving through zero per cent APR, one year’s free insurance and payments from £79 per month on Agility PCP. Smart’s two-wheeled hybrid vehicle, the smart ebike, could be availed for £59 a month with zero per cent APR.Read the entire article Mercedes-Benz is offering new finance offers in the UK
Nissan Motor Co. is planning to offer new customers in Texas with free rapid charges for its Leaf electric vehicle starting October 1, 2013. Customers who buy or lease a new Leaf in Dallas, Fort Worth and Houston will be entitled to an all-year unlimited free access to public chargers operated in the locations by NRG Energy Inc.’s eVgo unit.
Nissan spokesman Brian Brockman disclosed that the companies may expand the free service to other markets, depending on customer response. Brockman told Bloomberg through phone that the setup – derived from a strategy pioneered by Tesla Motors – is a pilot program and the carmaker “wants to see how it goes.”
He added that NRG has eVgo networks in other markets, noting that they have high hopes for the pilot program. Nissan, together with alliance partner Renault, is now considered as the largest global seller of pure electric vehicles.Read the entire article Nissan is offering free charging to owners, lessees of new Leaf in Texas
Tesla Motors is planning to buy back Model S electric cars from customers using its lease-style option, a move that could generate more revenues when the carmaker sells used cars, according to Bloomberg Industries. The move provides Tesla with more control over used vehicle resale prices than traditional carmakers, according to Bloomberg Industries analyst Kevin Tynan.
He said that used Model S sales may generate up to $368 million in annual revenue in 2016, or an additional $40 million in annual gross profit.
Tynan told Bloomberg News in an interview that “buying back three-year-old cars” at a set price means Tesla can control the secondary market for Model S and other cars it offers. He remarked that Tesla will be the main buyer and has the chance to earn a “second gross profit on the same car.” Tynan estimates that Tesla is offering 46 percent of the Model S’s original price.Read the entire article New lease-style plan expected to generate more revenues at Tesla
General Motors and Nissan Motor Co. both logged record plug-in vehicle sales in August 2013, owing primarily to their low-cost leases. The carmakers’ sales in the first eight months of 2013 are effectively higher than in full year 2012. GM posted an 18-percent rise in sales of its Chevrolet Volt plug-in sedan in August 2013 to 3,351 units.
On the other hand, Nissan was able to triple deliveries of its Leaf EV in the month to 2,420 units. According to data compiled by Bloomberg and Autodata Corp., carmakers sold 57,976 plug-in and plug-in hybrids in the first eight months of 2013, compared to 51,938 units in full year 2012.
The sudden surge in sales of EV in the US is boosted by cheap leases and price cuts as GM, Nissan and Honda Motor Co. are now offerings monthly plug-in leases of $199 to $299. Toyota Motor Corp. recently joined in August, offering a lease of $299 a month deal for RAV4 EV, allowing it to pose a sales record last month.Read the entire article Low-cost leases push plug-in sales of GM, Nissan to record highs
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