Leasing to Rise in 2004
DIAMOND BAR, Calif.—Leasing is expected to make a strong comeback this year after dropping below 30 percent of new-vehicle sales in recent years, reported the SEMA Research and Information Center.
Carmakers are beginning to offer subsidized lease deals with monthly payments that could be from $50 to $100 lower than standard lease payments. Subsidized leases were common in the late nineties but dwindled as new incentives were offered.
Although special lease offers are common for luxury vehicles, some carmakers are offering them on more mainstream vehicles. Honda is offering $239 and $299 per-month payments on Accord sedans and Odyssey minivans, respectively. Industry analysts said more customers would lease because of higher interest rates and fewer low-mileage used cars.
Leasing market losses were estimated at more than $10 billion in 2001 and totaled approximately $6.7 billion in 2003. They are expected to drop to $4.3 billion in 2004.
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