In the Market for a New Vehicle, Is Now the Right Time?

Purchasing or leasing a vehicle as we all know is not a simple task or a straight-forward process.  Whether you are acquiring your first vehicle or your 5th vehicle, the process does not get any easier or less frustrating.  Buying or leasing a car at any time in your life is a big deal and an expensive purchase.  But what if you knew there were certain things took look out for when acquiring your vehicle?  In fact, there is a right and wrong time to get the best deals.

As somebody looking to acquire a vehicle, the first question you should ask yourself is about timing. Is now the right time?  If you do not know the answer to that question than you are in the right place.  Believe it or not getting the best deal possible on your new vehicle comes down to the intricacies of what day of the week it is, what month it is, and what time of the year it is.  Certain holidays during the year also bring potential opportunity for getting a better deal or lease terms as well.

To elaborate on the best day of the week for vehicle shopping, Monday historically has always been the best day of the week to negotiate a great deal.  The speculation as to why that is comes down to weekend shoppers. There is a higher chance the sales team has hit their weekend goals, so that come Monday, shoppers may get a better deal or more attention.

Do not forget though there is also a particular month you should go car hunting.  According to Cox Automotive, between the years of 2013 and 2018, data shows that May is the month when dealerships have the most foot traffic.  This could be attributed to the “aggressive holiday incentives and promotions” for Memorial Day.   Presidents Day, Memorial Day, July Fourth, Labor Day, Black Friday, and New Year’s Eve area all holidays that offer up great opportunities to walk away with that best car deal.

With all this being said, determining the best time to lease a vehicle may be out of your control, but Swapalease.com is here to help every day of the year. Visit www.swapalease.com to find your next lease deal.

2020 Hit the Auto Industry Hard, but Ended on A High Note, Why?

With the complete uncertainty and dreadful concerns surrounding the topic of Coronavirus, 2020 affected every aspect of normal day life, including greatly affecting the auto industry. The uncertain expectations that the year 2020 brought to the Auto Industry led to it suffering terribly, with sales being at an all-time low around the months of March and April, when the country went into lockdown.  What is interesting though, is there was a resurgence of auto sales which ended the year on an unexpected high note.  Which leads to the question of why the increase in sales?

One of the reasons why the auto industry took a positive turn in the right direction would be the implementation of the Covid-19 Vaccination.  The optimistic thought that the vaccination would enable consumers and businesses to return to somewhat of a “normal” lifestyle boosted the sales in the auto industry.

Another reason why sales increased would be the influx of people buying vehicles to avoid using the means of mass transit.  People also found themselves in situations where they had the opportunity to escape areas heavily affected by Covid-19 and relocate.  Another interesting reason why sales had increased is because people where finding more interest in purchasing light trucks vs. passenger vehicles, companies claim that they would have sold more light trucks if they had the inventory to keep up with all the orders.

Another interesting take on why the automobile industry did so well at the end of the year, would be how while some people faced economic problems others did much better economically because of not spending the amount of money they normally would on entertainment such as eating out and vacations.  Therefore, leading to an increase in used vehicles being sold and luxury vehicles.  It should be interesting to see what direction the future of the automobile industry goes in as the pandemic continues, but hopefully, nears an end.

Options When Your Lease Terms are Over

If you have been leasing your car and you have almost finished your lease term, you may be interested to know what your options are to acquire a new vehicle. Approximately 45-60 days before your lease ends, it is time to decide what you want to do with the vehicle. If you are unsure what to do at the end of your car lease, here are four options available to you:

  1. Buy Out the Car: If you really like the vehicle you leased, you can buy out the car from the dealer. It will cost you the residual amount of the value that was set in the lease.
  2. Extend your Lease: If you want to keep the same car, but do not want to buy it out, you can extend your lease. You can re-lease the car, but as a used-car lease instead. You may be able to negotiate a better deal as well!
  3. Return your Lease: You have the option to return your car to the lending company, who will end your lease responsibility and take the vehicle back into their inventory.
  4. Trade Up: If you find yourself enjoying the vehicle you have, and how the company has handled your lease, you can choose to lease again with the same company. You can trade up for a higher-end model car or get a new car altogether.

Fortunately, you do not have to be stuck in a car lease if you need out. Swapalease.com is the largest online marketplace for used car leases if you need options. Consider Swapalease.com as a matchmaking service for cars, matching up individuals who want to get out of a car lease with individuals who want to get into a car lease. The online marketplace has vehicles and customers in every state in the continental United States and Canada.

New Car Models Coming In 2021

Every year, the biggest automotive brands reveal their newest models, having consumers ready to buy or lease as soon as the New Year arrives. The cars, trucks, and SUVs seen here will not reach dealer lots for anywhere from a few months to a few years. Some of them will be ready as we enter 2021, and others have not emerged from the design studio yet. Here’s a few vehicles to keep an eye out for:

Alfa Romeo Tonale: The upcoming Alfa Romeo Tonale promises to be a rare beauty in a sea of luxury-subcompact crossovers. Plus, it’s Alfa Romeo’s first hybrid model. Previewed by a concept model at last year’s Geneva auto show, the production version should arrive later this year, starting around $35,000.

Audi E-Tron GT: Audi’s electric e-tron lineup grows for 2021, with the shapely e-tron GT joining today’s crossover. This GT is aimed squarely at Tesla’s Model S. Audi is hoping it will deliver more than 250 miles of driving range and nearly 600 horsepower from a pair of electric motors.

GMC Hummer EV: While General Motors discontinued the Hummer in 2010, its poised to make a comeback for 2022 in an all-electric sub-brand of GMC. The vehicle will offer 1000 horsepower and GMC claims it is capable of blasting from zero to 60 mph in just 3.0 seconds. GMC will release full details in the fall.

2021 Jaguar XJ: Jaguar’s full-size XJ sedan is getting old, but you would not know it by looking at the seductive four-door. Jaguar is looking to replace the XJ with an all-new model for 2021. And Jag is going bold: The next XJ will be fully electric, with some 300 miles of driving range and DC fast charging.

Did you know Swapalease.com, the largest online lease transfer marketplace, carries inventories from these same brands and similar models?

Swapalease.com is the online marketplace with vehicles and customers in every state in the continental United States and Canada. For more information on finding the best car lease deals or to learn how you can have a successful car lease trade, visit Swapalease.com or contact them at 866-SWAPNOW.

Uber Remains Invested in Automated Driving, Takes Back Seat on Driverless Cars

Uber announced on Monday that its autonomous driving unit known as ATG, will be acquired by Aurora Innovation Inc., a startup company that will gain extra capital from Uber as part of the deal. The appeal to Uber is that it takes driverless cars off the Uber balance sheet. Uber owned approximately 86% of ATG at the end of September with small stakes in Toyota and its supplier Denso. After this new deal, Uber will own about 26% of ATG.

The acquisition means that Uber will not need to consolidate the expense of developing driverless cars. The deal also helps to alleviate Uber of liability surrounding the Waymo scandal, where Waymo sued Uber for stealing trade secrets, followed by a pedestrian accident with an Uber test vehicle.

Having larger partners is important as driverless cars need to be integrated with technology. The deal will also give Aurora a $10 billion valuation, sitting shortly behind Waymo and General Motors. This and the postdeal shareholdings imply a valuation of $4 billion for ATG—markedly down from its previous valuation—and $6 billion for the original Aurora business, which was valued at just $2.5 billion early last year.

To live up to its $10 billion price tag, Aurora will come up with a credible plan a manufacturing a safe driverless vehicle to roll out in scale. A complex merger-integration process may not make the challenge easier. Aurora has roughly 600 staff, compared with ATG’s 1,200, but Aurora boss Chris Urmson will lead the combined company.

Aurora also secured a small investment from Amazon just last year and has discussed applying its technology to the freight business.

Amazon Technology Takes Over the Road with Alexa As a Copilot

Although Amazon technology has reached millions of homes all over the world; the idea of an intelligent voice device designed for driving seems quite innovative, to say the least. While it started as a simple portable car charger; today, Alexa-Enabled car chargers are devices that count that give you complete voice control within your car. It seems like Alexa is waving Siri and Google Assistant goodbye, and it is positioning herself as copilot.  

Amazon’s gadget counts with over twenty-five thousand Alexa skills; you can ask for directions, hear the latest news, shop online, play music, call your loved ones, and so much more. While the tool counts with a dual USB port and an AUX entry to connect up to two phones; the system was initially designed and meant to function wireless, meaning via Bluetooth. The ‘Echo voice system’ used for the car device is the exact same one incorporated in all of the other Amazon personal assistantstherefore, customers already seem familiarized to it, in fact, they have responded with very positive feedback to the new driving experience and its surprising affordability.   

Without a doubt, the greatest and most valuable part of it all has to be the safety offered for those on the road. Each one of these functions is designed to be requested and completed without the need of taking the eyes of the road, not even a second. Which as you knowthat is what makes Alexa-enabled car charges a game changer; safety will always come first and then everything else.  

While it is true that Amazon’s device may completely change your car rides, it certainly does not change your carHeadquartered in Cincinnati Ohio, Swapalease.com is an online marketplace that allows drivers to list their current lease and helps match them with buyers looking to take over the remainder of that lease. It is definitely a ‘win-win’, both parties get what they are looking for; plus, it lets you enjoy the convenience of online shopping from the coziness of your home.  

New Car Sales on the Rise In December

For the past few years, November new-automobile income has experienced discouraging numbers, especially because of the lower number of selling days ithe month.While many reputable auto brands suffered a decline in volume-based sales,their average annual profit went up higher when adjusted for the daily selling rateAlthough, the devastating effects of this year’s pandemic seem to continue; there is a slow yet consistent recovery process happening on the new-automobile industry. COVID-19 has evidently left a mark on the vehicle market and companies like Toyota, Subaru, and Hyundai do not seem very happy about it.  

Fortunately, as December arrives, a significant part of this year’s reports come in too; surprisingly and fortunately, they are optimistic. The reports suggest that November’s numbers were not an accurate representation of the year’s sales, they simply showed the obvious and expected consequences of what happens when there are fewer selling days than usualimplying that the annual statement looks much better and way more promising that it did last weekNevertheless, the final and absolute declaration can only be given once the companies that report quarterly, release their statistics.  

While it is true that there was a decline in November deals, automobile manufacturers continued to increase their average in transaction prices for new cars.  According to the results shown by an evaluation done by Kelley Blue Book; Fiat, Chrysler, and General Motor vehicles were on the top of the list when it comes to price increases within the industry, 1.3 percent to be exact.  

It is no mystery that 2020 has been a tough year for most of the industries, the automobile market is no exception; however, it is going through a recovering process that has been more enthusiastic than it was expected to be. Customers have not forgotten about the importance of buying a vehicle and the guilty pleasure that comes with it, regardless of the economic challenges presented by a sudden global pandemic. As stated above, December brings hope to the global new-vehicle industry, as usual. Since the results demonstrate that November numbers did not meaningfully affect the annual profit, they leave the automobile industry with high expectations for next year and a continuing recovering process.  

Ford E-Transit Targets Efficiency-Minded Fleet Buyers

Ford Motor Co.’s 2022 E-Transit van might not seem very impressive to the typical vehicle shopper.

The company is asking buyers to pay over $10,000 in premium for the gasoline-powered model to get an estimated 126 miles of range. This is a third of what some of the latest EVs promise.

However, company officials say that for the commercial customers that Ford is targeting with the E-Transit, the price and range makes sense.

“There’s a difference between retail and fleet customers,” said Ted Cannis, general manager of Ford’s North American commercial business, to Automotive News. “In the retail world, you buy everything on a might — ‘I might drive 300 miles to visit my parents in Chicago,’ or ‘I might buy a three-row because one time we traveled with another family and their kids.’ In the commercial world, everything is for a specific use case. They never buy more than they need.”

Target

Ford’s telematics data shows that commercial businesses use their vehicles for 74 miles a day on average. This is well within the E-Transit’s range and accounts for cold weather and even heavy cargo loads. Ford will also offer many charging options, including access to thousands of public stations and at-home charging.

Cannis states that the price is fair and asserts that fleet buyers will be willing to pay once they calculate potential cost savings.

Additionally, Ford says that the scheduled maintenance costs will be 40 percent lower for the E-Transit compared with a gas model of over eight years and 100,000 miles. The company added that increased uptime from not having to stop to refuel should also improve efficiency.

Cannis points out that many cities have noise ordinances that prohibit gas-powered vehicles from operating outside of certain hours, so the quiet electric motor on the E-Transit should allow businesses to work later than rivals.

Also, numerous telematics software offered through the Ford Commercial Services division is aimed at providing insights for business owners that will make driving more efficient as well as cost-effective.

According to Cannis Ford is providing sales training for employees at its commercial dealerships so that they can explain this to would-be buyers and help them work through the math of what they’d be able to save.

“We see that it’s going to [work] for most of our customers interested in this space,” Cannis said.

The E-Transit was built at Ford’s Kansas City Assembly Plant in Missouri and will be offered in three configurations, with three roof heights and three body lengths, to give business owners options to match specific needs. Furthermore, a Pro Power Onboard mobile generator, debuting on the 2021 F-150 pickup, will be optional.

Torque

Ford tries to produce a targeted 266 hp and 317 pound-feet of torque with the electric motor across all configurations. It targets a maximum payload of 3,800 pounds or up to 4,290 pounds on cutaway versions.

This automobile is part of Ford’s $11.5 billion global bet on electrification. CEO Jim Farley said that even as Ford prepares to launch the Mustang Mach-E crossover, which is geared toward retail customers, the automaker would focus mostly on commercial buyers, considering the business case might make them more inclined than retail buyers to go green.

In a statement, iSeeCars executive analyst, Karl Brauer said that “commercial vans might be the most effective use of electric vehicle technology. The combination of a consistent daily route with a home or work charging location solves two of the biggest EV customer concerns — range and infrastructure. Roll in the high torque and low noise offered by every EV and you have an ideal urban utility vehicle.”

GM Commits to 30 EVs through 2025

Mary Barra, General Motors Chairman, and CEO recently gave an update on the company’s plans for electric vehicles.

In a virtual conference for investors, Barra said that GM is committed to launching 30 EVs globally through 2025 and that 40% of its lineup here in the United States would be battery-electric powered by the same date. The twelve upcoming EVs were revealed back in July.

Barra said that GM will spend $27 billion over the next five years to fund the development of all of these EVs, as well as self-driving technology. This is $7 billion more than what the auto company previously planned.

Most of the future EVs will be powered by GM’s own batteries branded Ultium. The GMC Hummer EV and Cadillac Lyriq, which are due in late 2021 and early 2022, respectively will be the first vehicles to use Ultium batteries.

GM had made further advances to its Ultium batteries and estimates the biggest battery packs will deliver up to 450 miles of range, up from a previous estimate of 400 miles. The automaker wants to continue refining the technology and has already begun testing a second-generation design estimated to cost 60% less than today’s Ultium batteries with double the energy density and is due by the middle of the decade.

The lower cost of the second generation design is due to new cell designs that enable higher energy density and use less non-active material, making more room for the part of the battery that produces energy. Additionally, the cells use less expensive materials and eliminate the need for expensive cobalt found in batteries today. There is also better integration between vehicles and their battery packs which allows fewer cells and modules.

According to GM, Ultium batteries will be much easier to service at the module level which will lead to less expensive costs for repairs instead of having to replace the entire pack. The batteries are also flexible enough to accept new chemistry as well as new cell types, without doing major tweaks to the design.

Because of this flexibility, the development of many of GM’s future EVs can be accelerated. For example, starting with the upcoming GMC Hummer EV, GM’s benchmark development speed for a new EV is now 26 months instead of the standard 50 months.

Japanese Auto Brands Rank Highest in This Year’s Consumer Reports

Japanese auto brands took five of the top ten spots for this year’s Consumer Reports Reliability Survey, with Mazda finishing on top for the first time, followed by Toyota and Lexus. Last year, Lexus ranked first, followed by Mazda and then Toyota.

Buick was the highest-rated domestic brand in this year’s survey, finishing fourth, with Hyundai and Honda taking the spots for “most reliable.”

The survey covers model year 2000 through 2020 and collects data from each organization’s members about their experiences with more than 300,000 vehicles. The nonprofit then assigns a predicted new-vehicle reliability score to various nameplates on a scale of 1 to 100. The scores of all brand’s models from which the magazine has gathered statistically sufficient information is used to determine that brand’s average reliability score.

Buick moved up fourteen spots from last year, followed by Ram and Dodge.  GMC, Chevrolet, Jeep and Cadillac improved from last year but still finished below average. Ford dropped six spots and fell into the “less reliable” tier.

Lincoln finished last among all brands, with an average reliability score of only 8, sitting 21 points lower than Tesla, which was seconds to last. Porsche took the spot for highest-ranked European brand. Consumer Reports said vehicle owners “reported everything from transmissions needing replacement after as little as 5,000 miles to display screens that required hardware replacement.” It also said all of Toyota’s models had average or better reliability but said Lexus’ standing was dragged down by the LS sedan.

Jake Fisher, senior director of auto testing at Consumer Reports said “what we’re seeing now is, when automakers launch EVs, they’re changing a lot,” including new platforms instead of modifying existing vehicles with an electric powertrain. “Almost all automakers seem to use the opportunity to make these vehicles a technological tour de force, and as a result, they’re creating problems because they’re changing everything.”