Experian recently found that auto brand loyalty was, on average, a success rate of 49.5 percent, meaning that dealerships had a 50/50 chance of getting return business for the same brand. This information, listed in a recent Forbes article, also mentioned that common knowledge would have longer-term owners to be brand-loyal customers, however, the opposite is true. Lessees who take on a 12-month vehicle lease are 57.3 percent more likely to be a brand-loyal customer.
As the article mentioned, it is those who lease vehicles that will likely be brand-loyal customers. How come? As it turns out, a fixed lease term contributes to creating brand-loyal drivers. For long-time car owners a lot has changed since they last got a vehicle such as credit score and vehicle budget. Since vehicle leases are usually 36 months long, not much has changed for these drivers making it easier for them to get a new model of the same make they just returned.
For lease cycles that are shorter than 36 months, brand loyalty is even higher. Swapalease.com recently polled many of its lease transfer customers and found that roughly 68 percent of those polled said they were interested in staying in the same brand family. This number shoots up to 75 percent when it is a luxury brand such as BMW, Mercedes-Benz or Lexus.
For those who are in the market to get a new car leasing might be the best option, especially if you’re looking for a shorter-term commitment then getting stuck with the same car for the next 72 months. Swapalease.com offers an alternative to buying a car.
The largest online lease trade marketplace, Swapalease.com helps drivers exit their lease early. For drivers shopping for a newer vehicle, Swapalease.com allows buyers to take over the remainder of a lease. What better way to get into a new vehicle than by taking over a lease? There is no down payment needed and most times it’s the cost-effective option.
The online marketplace has 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.