Volkswagen is offering up to double the average amount of incentives on some of its cars to help dealers during its diesel crisis, Bloomberg reported (via Automotive News).
Dealers, who received no-strings-attached cash from Volkswagen at the beginning of this month, are offering up to 11 percent off their cars’ stickers to help weather the storm of its diesel cheating scandal. The industry average is roughly 6.2 percent according to TrueCar. (Read More…)
Almost three out of four electric cars on the road are leased — not purchased — according to data from Edmunds, which was compiled by CNBC. (The leasing data excludes Tesla, who does not report leasing rates.)
The overall lease penetration rate for electric cars, which is 74.9 percent, is much higher than the overall rate for all cars, which is 28 percent. The leasing rate for luxury cars is roughly 50 percent, according to Edmunds.
According to the report, EV drivers are more likely to be early adopters but are hesitant to own the vehicles due to increasing battery capacity and rapidly evolving technology. In other words, electric cars are becoming the new iPhones.
Steve (not Lang) writes:
My wife has a 2013 Prius with a total of 36,000 allowable miles over the 36 month lease through June 2016. The problem is she now drives more and is already at 37,500+ miles! At 0.25 cents per mile, it will add up quickly.
Should we just plan on buying the Prius from Toyota for 16,400 at the end of the lease term? Or should we take a negative equity hit today, cash out and buy a 2015/2016 Honda Accord Sport/EX? We could be looking at $4,000 in lease payment to roll into a new deal to get out of Prius. We kind of learned our lesson to not do a lease since now she drives a lot. (Read More…)
The Nissan Versa sedan might be the cheapest car in the U.S., but it isn’t holding candle to the cheap lease rates available for the Volkswagen Jetta. Regardless of the almost $4,500 price differential between the two cars in base model trim, Jetta lessees are spending less than half each month compared to the Versa, as low as $39/month at one San Jose, CA dealership.
It’s all part of an effort to bring customers in now at a loss to have their attention three years in the future when the German marque has more compelling products to offer.
Except Invincibility! (photo courtesy: coloribus.com)
TTAC commentator nutbags writes:
I have been a long time reader and occasional commenter and thought I might write in for once. How many other readers have experienced this? I know you have Panther love in your system for many good reasons. Have you experienced this? Does this detract from the love?
Now for the real question: I am a middle-aged guy with a wife and two teenaged kids. Recently the owner of my company, who knows my love of most things automotive and has been paying my auto lease (provided I keep the payment below about $350/month) for about 18 years, gave me a proposition. (Read More…)
If you thought the $75,000 price of admission for ownership of the 2014 Cadillac ELR was too high, the luxury automaker may have another option for your consideration: A lease contract of $699/month with a few stipulations.
Dear Sanjeev: (facepalm – SM)
As a matter of coincidence most of the vehicles I’ve owned have been covered in previous Piston Slap articles and I’ve noticed a recurring theme: at one point, a point likely occurring far prematurely than hoped, I’m going to have an issue which according to your previous advice will require either a new engine or a whole new car. (Read More…)
Like the GM EV1, Volkswagen is planning a lease program from their XL1. While VW hasn’t announced pricing, the idea behind leasing is for VW to maintain a measure of control over the cars, specifically to ensure they’re located close to proper servicing centers and to avoid a secondary market for the cars. VW’s Mark Gillies confirmed to Autoblog that the lease program is the most likely avenue for customers to obtain an XL1.
Tesla is changing course with its lease/financing plan, with CEO Elon Musk tacitly admitting that Tesla got it wrong the first time around.
California consumers interested in a Fiat 500e will be getting a sweetheart deal from Fiat; a $199 lease for 36 months with a $999 down payment.