Tag: lease

By on June 7, 2017

2017 Toyota Camry SE - Image: Toyota“Stepping up to a midsize is basically a no-brainer for buyers at this point,” CarsDirect’s senior price analyst Alex Bernstein tells TTAC.

With demand for midsize sedans drying up, deals on aging models are warming up.

Now in its sixth model year, the 2017 Volkswagen Passat 1.8T S — the entry-level Passat — is available in June for a 36-month lease at $189 per month and $1,999 due at signing.

The 2017 Honda Accord, a new version of which is due later this year, is also available in June in basic LX trim on the same terms.

Meanwhile, the mid-grade 2017 Toyota Camry SE 2.5, set to be replaced in the coming months by an all-new model, is likewise available in June for $189 per month with $1,999 down over 36 months.

“This is about as cheap as lease deals have ever been on these midsize sedans,” Bernstein says. But it actually gets even cheaper, marginally cheaper, according to CarsDirect’s examination of 500 lease deals. (Read More…)

By on March 2, 2017

2016 chevrolet impala

Pity the poor passenger car. Once on top, now increasingly being spoke of in sentences that use the word “endangered.”

If last month’s sales figures tell us anything, it’s that the current trend towards spacious crossovers and SUV shows no signs of abating. With the segment now relegated to second-class status, passenger car makers face rising inventories and a growing need to sweeten the sales pot.

General Motors recently idled some plants and cut shifts to draw down a glut of unsold vehicles, but February’s dismal sales did nothing to help. Well, it’s March now, so bring on the crazy sales! (Read More…)

By on June 14, 2016

2008 Mazda5, Image: Mazda

Charles writes:

Good morning Bark,

Fiat Chrysler Automobiles hired me about a year ago, which coincided with the first anniversary of a five-year loan on my 2009 Mazda5 Sport. However, I’d really like to get into a company car as a show of support, and because I’m tired of paying five-year loans on cheap used cars.

(Read More…)

By on April 12, 2016

2016 Tesla Model S

Grilles are so 20th century.

As we speculated last week, Tesla has put a new face on its Model S, doing away with the faux grille designed to trick people into thinking there was something combusting under the hood.

The new front end is a corporate amalgam of the both the recently unveiled Model 3 sedan and Model X SUV. Tesla apparently thinks that society has progressed enough to accept the disappearance of an air-sucking mouth at the front of a car.

(Read More…)

By on December 30, 2015

Mary-Barra-Chevrolet-Cruze

Leasehackr has a screaming deal on a 2016 Chevrolet Cruze Limited (the old body style) 1LT Automatic if:

1) You can sell it for more than $13,000 after two years;
2) You’re were a Costco Auto member before Sept. 30;
3) You can get $1,800 off of MSRP, or thereabouts;
4) Max incentives;
5) You’re a current lessee of another automaker;
6) You don’t mind driving a Chevrolet Cruze Limited 1LT Automatic for two years.

If you ticked every one of those boxes, congratulations! You can lease a 2016 Chevrolet Cruze for $40 or less*** per month for 24 months.

(Read More…)

By on December 2, 2015

Signing his life and wallet away for the next six or so years with a long-term auto loan agreement

In news that will shock precisely no one, the current car blitz is partially fueled by longer loan rates, higher monthly payments and an increasing prevalence to finance our new cars from the automaker themselves — when we’re not renting it from them in the first place.

Experian released Wednesday its data on third-quarter sales and financing and found, on average, that borrowers’ credit scores were at the lowest level since before 2008. According to the credit agency, car buyers had an average credit score of 710 when they financed their car — which happens in 86.6 percent of car transactions, an all-time high.

Buyers opted for longer loans too. According to the data, new car loans longer than six years increased to 27.5 percent for the third quarter, up 17.1 percent from the same period last year. Loans between five and six years accounted for 44 percent of new vehicle financing. (Read More…)

By on October 22, 2015

Volkswagen Chattanooga Tower

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…)

By on October 19, 2015

2015 Nissan Leaf

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.

(Read More…)

By on September 4, 2015

2012_Toyota_Prius. Photo courtesy wikipedia.org

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…)

By on June 1, 2015

Jetta TDI 2015

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.

(Read More…)

By on May 11, 2015

 

coloribus.com

Except Invincibility! (photo courtesy: coloribus.com)

TTAC commentator nutbags writes:

Hi Sajeev,
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…)

By on January 22, 2014

2014-Cadillac-ELR. Photo courtesy AutoGuide.com

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.

(Read More…)

By on December 4, 2013

Puzzled male shrugging wearing lab coat

Cass writes:

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…)

By on May 27, 2013

2013-03-05_Geneva_Motor_Show_7986_zoom_in

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.

By on May 6, 2013

photo-41-450x337

Tesla is changing course with its lease/financing plan, with CEO Elon Musk tacitly admitting that Tesla got it wrong the first time around.

(Read More…)

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