LEASE BUYOUTS ON THE RISE FOR JAPANESE MODEL VEHICLES
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Car Shoppers Continue to Seek Alternative Channels for Fatigued Inventory
MIAMI ? (June 15, 2011) ? LeaseTrader.com, the most recognized name in car leasing, reports a rise in lease buyout intent among certain vehicle models short in supply at dealerships. Since January, lease buyout intent from shoppers has risen as high as 13.6 percent among Toyota, Honda, Nissan, Infiniti and Lexus as consumers look at alternative channels for in-demand vehicles.
?Car shoppers who take over someone?s remaining lease on the LeaseTrader.com marketplace have the same lease options available even after transfer, including the ability to buy out the lease contract at the end of terms,? said Sergio Stiberman, CEO and founder of LeaseTrader.com.
Production issues stemming from the March earthquake in Japan placed a heavy strain on the supply of smaller Japanese vehicles, while at the same time spring gas price increases forced up demand. LeaseTrader.com has seen a noticeable rise in consumers taking over specific Japanese model vehicles with intent to buyout the lease as a way to shop for a car. Most leases have between 12 to 18 months remaining, and some customers plan on reselling the vehicles in the coming months because of higher used-car values.
?A consumer currently leasing a 1- to 3-year-old subcompact, compact or hybrid car is probably in the best position to beat their current lease and come out ahead,? said Alec Gutierrez, manager of vehicle valuation with Kelley Blue Book. ?However, with gas prices on the decline, values for these vehicles have started to slip, so now may be the time to act.?
Biggest Increase of Japanese Model Leases for Buyout
| Brand/Car | Avg. Months Remain | Avg. Monthly Price | % Buyout Increase | KBB Avg. Trade-in Value Range (MY08-10) |
| Toyota Prius | 13.8 | $324.62 | +13.6% | $17,750-$23,750 (+30% YTD) |
| Toyota Camry | 15.7 | $276.89 | +13.2% | $13,500-$15,500 (+15% YTD) |
| Honda Accord | 12.4 | $283.45 | +12.1% | $14,000-$17,250 (+7.5% YTD) |
| Nissan Sentra | 14.6 | $216.40 | +11.2% | $11,200-$12,750 (+20% YTD) |
| Lexus IS | 12.5 | $417.39 | +9.6% | $24,900-$32,900 (+7% YTD) |
Data Source: LeaseTrader.com & Kelley Blue Book
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No comments posted yet.This story posted by LeaseTrader.com, the automotive service company that lets people transfer out of their Car Leases early. If you're looking to swap a lease or transfer out of your car lease, please visit www.leasetrader.com
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