Lease Prices Fall for Chevrolet, Ford, Nissan
Wantalease.com reports sharp drops and steep increases in average new-vehicle lease payments for March, including aggressive pricing for the Chevrolet Traverse and Ford Fusion.
The average cost to lease a new Ford Fusion is currently $179 per month, an industry-leading 18.65% decrease from February.
Photo courtesy Ford Motor Co.
CINCINNATI — New-lease marketplace Wantalease.com reports falling average lease costs for a variety of Chevrolet and Ford vehicles and higher payments for some BMW, Infiniti, and Toyota SUVs heading into March.
Lease pricing for the Chevrolet Traverse now averages $289 per month, down 12.88% from February. The Malibu is down 5.51% to $239 per month. Ford pricing fell even further, including an 18.65% decrease in the average monthly cost for a Fusion (now $179 per month) and a 10.15% decrease for the Focus ($159).
While several dealers have offered attractive lease deals in the month of March, analysts noted, the Nissan Sentra remains America’s lowest-priced new vehicle lease, averaging just $129 per month.
“We’re seeing an increase in aggressive lease pricing beginning to permeate across dealerships, specifically for compact cars,” said Scot Hall, executive vice president of Wantalease.com. “Just as we saw Nissan offer attractive pricing across their line of vehicles in the month of February, other brands such as Ford and Chevrolet seem to be following suit.”
The vehicles with the largest increased monthly payment are the Toyota RAV4 (up 20.37% to $299 per month) and the Infiniti QX80 (up 20.21% to $759). The BMW X5 also saw a significant increase of 16.75%, bringing the average lease cost to $899 per month.
More Auto Finance
July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Auto Refi Savings Surge
Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.
Read More →
Subaru Enters Lending Business
The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.
Read More →
Positive Equity Reaches Record High
Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.
Read More →
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →