Sarah Caro

Company: Merit Mile

Sarah Caro

Merit Mile

Feb 2, 2021

SWAPALEASE.COM RELEASES ITS FOURTH QUARTER LEASE TRENDS REPORT FROM 2020

              Tesla and BMW Continue to Steal Marketshare from High-End Competitors

 Swapalease.com, the nation’s largest car lease marketplace, unveiled today its lease trends report from the fourth quarter of 2020, offering insight and perspective into the auto lease trends shaping today’s automotive retail and consumer preferences. Click here to download the report.

The report looks at vehicle lease payment, term, shopping consideration and driver preference trends within vehicle leasing in the fourth quarter of 2020. Among the most notable trends, consumer searches for Tesla vehicles on the Swapalease.com marketplace increased 55% over the last twelve months, among the largest increases by any brand in recent history for the marketplace.

“The consumer demand for Tesla is very real, and while Tesla doesn’t have a traditional retail network, the vehicle’s makeup positions it perfectly for a lease environment,” said Scot Hall, Executive Vice President for Swapalease.com. “As it’s in the luxury category, many drivers enjoy the ability to lease rather than finance a Tesla. Furthermore, drivers feel the battery technology is improving at a rapid rate and enjoy the ability to change or upgrade every few years.” 

The report also illustrates where BMW’s percent of total traffic reached 19% during the fourth quarter, up from 17% during the third quarter. Conversely, Mercedes-Benz declined from 8% down to 7% during the same time period.

Other foreign brands such as Honda, Acura, Nissan and Infiniti also continue to see falling search numbers in the marketplace. While these brands have traditionally experienced higher-than-average lease rates, they continue to experience lower-than-average search traffic and demand in the marketplace due to their unfavorable lease and lease transfer policies.

According to the report, Americans paid an average of $519.46 per month on their leases during the 4th quarter, down from $521.90 in the 3rd quarter. The report also shows that the average incentive has dropped from $583.65 in the 3rd quarter down to $545.66 in the 4th quarter.

For a look at the lease trends please download the report here.  

About Swapalease.com:

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.

Sarah Caro

Merit Mile

Senior Account Executive

304

No Comments

Recommended Posts

Genesis of Smithtown

Genesis of Smithtown, a trusted Genesis dealer in St James, NY, offers an extensive selection of new Genesis for sale and used Genesis for sale. We also provide a full range of Genesis parts, accessories, and a state-of-the-art service center to …

Genesis of Smithtown

Genesis of Smithtown

5
10 hours ago

Searchshop

Searchshop offers a wide range of vehicles for sale with financing, trade-in, and online deals. You can find a car for sale, an RV for sale, or boats for sale—all in one place. We simplify the process of finding the right vehicle at the rig…

Searchshop ...

Searchshop

19
3 days ago

Audi Queens

Audi Queens is your trusted Audi dealer in Queens, NY, offering new Audi vehicles, Audi used cars, Audi SUV lease options, and Audi Q3 certified pre-owned models. Explore our full inventory and experience premium performance and service. More …

Audi Queens

Audi Queens

37
June 25th

Frank Leta Honda

Frank Leta Honda, a leading Honda dealership in St. Louis, MO, offers a wide array of new and used Honda cars, crossovers, SUVs, vans, and trucks, all with Lifetime Warranties. Our selection includes the latest Honda models and quality pre-owned …

Frank Leta Honda

Frank Leta Honda

37
June 23rd

INFINITI of Smithtown

INFINITI of Smithtown is your trusted Infiniti dealer in Smithtown, NY, offering a wide selection of new Infiniti for sale and quality used Infiniti for sale. Visit our Infiniti service center for expert maintenance and repairs, and explore the l…

INFINITI of Smithtown

INFINITI of Smithtown

58
May 27th