Electric Vehicles and the Used Car Market

Posted on April 21, 2015 by admin

Electric vehicles have steadily grown in popularity and appealed to many drivers, however the cost has not always made EVs available to all. What’s more as technology continues to advance, the price of EVs have similarly increased. However, as the stock of the used car market increases drivers are now able to own electric vehicles at a lower price.

A recent article in WRAL.com talked about how the EVs currently coming off of leases will enter the used car market and will therefore be more affordable for consumers. President Obama set a goal for 1 million electric vehicles by 2020 but the cost of producing and owning an EV is not something drivers are automatically drawn to. What’s more, as gas prices have decreased from a few years ago there has been an increase in SUV purchases.

However, as EVs come off leases and enter the used car market consumers are now able to drive environmentally friendly cars, up to a third of the original price according to the article. For individuals who have always wanted to drive an EV, there might be an even more cost-effective way to get into your dream car.

Swapalease.com offers individuals the chance to take over an existing lease. Instead of being stuck in a long-term contract, why not take over an existing lease and have an extended test- drive? Taking over an existing lease gives you more freedom and helps you save money.

For those who are looking to get out of their current lease and would also like to save money, Swapalease.com helps match sellers and buyers together. Both parties get what they’re looking for, without the hassle of down payments and excessive fees.

Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com.

The New Leasing Epicenter: South Florida

Posted on April 9, 2015 by admin

As the economy continues its recovery, consumers are feeling more confident in their buying power and have helped new car sales in the automotive industry. Leasing has seen an unprecedented increase lately and more Americans are choosing to lease their new car rather than purchase their new vehicle.

A recent article in the Sun Sentinel elaborated this renewed trend and revealed that South Florida is one of the most popular places where more drivers are choosing to lease rather than purchase a car. The article mentioned that South Florida is leading the way in new leases, about 35 percent of new vehicle sales while Los Angeles and San Francisco leasing sales are at 30 percent.

South Florida is known for its extravagant style and those who live there want to look the part. What’s more, leasing and not buying, has become more convenient for those living in South Florida. It offers more car for less money and for those who like to drive the latest and greatest models, there’s no better way than leasing.

However, for those currently in a lease with some time to go who are looking to upgrade, Swapalease.com might be the best place to list your lease. Swapalease.com helps drivers wanting to exit their lease early by transferring ownership of the lease without having to pay extra fees of getting out of the lease before it’s due.

For those looking to have affordable monthly car payments and a short-term commitment, assuming a lease might be a good option. Swapalease.com helps drivers looking for a newer vehicle take over an existing lease, helping both seller and buyer. Why waste any more time or money on your current vehicle when upgrading has never been easier?

Swapalease.com is the largest online lease transfer marketplace and 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.

Negotiating the Best Loan for You

Posted on March 19, 2015 by admin

When shopping for a car, consumers must take various factors into account. Though not everyone thinks about or remembers to research the vehicle and loan options they have, it is a good place to start. Cars.com recently posted an article on loan basics consumers should be aware of. Swapalease.com has also published its loan versus lease spreadsheet to help shoppers determine if it’s cheaper to finance, lease of take over an existing lease.

The article mentions the different aspects of a negotiation that buyers should keep in mind such as the total amount financed, the interest rate, length of loan, and monthly car payment. Many times buyers are so focused on the bottom line and monthly payments they neglect to look at the other elements of what they’re agreeing to and signing. It is very important to be cognizant of everything you agree to as the buyer so that there are no surprises down the road.

What’s more, the article mentions that consumers must read the fine print and not be swayed by ads they see, as there are restrictions that not everyone qualifies for. The article also advises buyers to get pre-approved for a loan, which can be used to leverage what the kind of offer the dealer makes.

If you’re not looking forward to making payments for the next 72 to 84 months, assuming a short-term lease is a great option. Sellers who are looking to exit their lease early, with no penalties, can list their lease on Swapalease.com where an interested buyer will take it over.

Usually there are no down payments required and you get to drive the latest cars with a short-term commitment. You upgrade your phone every few months, why not your vehicle?

Trouble with Auto’s Subprime Bubble?

Posted on March 13, 2015 by admin

There have been many reports talking about the danger of the automotive industry’s subprime bubble and what kind of effect it can have on the economy. However, it turns out that auto’s subprime bubble doesn’t compare to the one the housing market experienced before the Great Recession.

In a recent article in The Guardian, experts compared the subprime bubble in the automotive industry to the housing bubble and found that, though the auto subprime bubble reached $20 billion in 2014, the housing subprime bubble reached $600 billion in 2006 alone. Though subprime lending continues to increase in the automotive industry, consumers need to be aware of what kind of loan terms they’re agreeing to when buying a new car.

Most of the time, dealers are looking to make a sale and won’t explain the specifics of the loan while consumers are focused on monthly payments that they won’t take a better look at loan terms and length. However, consumers should educate themselves and not be pressured into singing on the dotted line until they understand the details of their car loan.

What’s more, purchasing a car isn’t in everyone’s best interest. A lot of the times buyers can save more money over time by taking over the remainder of a lease. Taking over a lease helps both sellers and buyers. Sellers can exit their lease before it’s due and not have to pay any fees for breaking their lease and buyers take over a shorter-term commitment with a low monthly price.

For those looking to get a good deal, assuming a lease is a nice way to drive the latest models without breaking the bank. It’s the only option that gives you the best of both worlds. Next time you think of driving something new, weigh your options and really consider taking over an existing lease.

The Rise of Auto Sales and Millennials

Posted on March 11, 2015 by admin

The state of the automotive industry will be dependent on Millennials entering into the workforce and adult life. There were reports that Millennials weren’t contributing to the automotive industry because most were turning away from vehicles. However, an Automotive News article has reported otherwise.

Since the Great Recession, it has been harder for Millennials to find a steady job and begin adult life. While the Baby Boomer generation contributed greatly to the automotive industry, it seemed that Millennials weren’t as interested in getting their licenses or owning a car as their parents and grandparents. That doesn’t seem to be the case.

With the economy continuing its recovery, Millennials have started to impact the auto industry with a slow increase in new car sales and leases. According to the article, auto loans grew 27 percent in 2014 for Millennials, an increase from roughly 10 percent in 2013. Millennials seem to be finding their footing and are beginning to make major life decisions.

Though buying a vehicle might be a little out of some Millennials’ price range, taking over the remainder of an existing lease might prove to be a sound, cost-effective option. Not only are you committing to a short-term agreement, it also provides you with an opportunity to drive the latest vehicles every few months.

Swapalease.com allows drivers, who are looking to opt out of their lease, list it on their website and help match them up with drivers interested in taking over the remainder of the lease. Often times, there is no down payment and both parties walk away with what they were looking for.

Automobiles, IoT and Hackers

Posted on February 20, 2015 by admin

Technology has advanced so quickly that it’s been difficult to stay up to date at times. However, as cars continue to communicate more with each other, and soon to our homes as well, it’s no wonder there could be some dangers with how data will be available and how easily tech-savvy cars can be hacked.

USA Today recently released an article talking about what the automotive industry should be aware of as technology for cars becomes fancier and standard in new models. At a Delphi sponsored hack-a-thon, high school and college age kids as well as seasoned hackers, were able to hack into cars, unlocking and turning them on remotely. As automobiles begin to speak with each other and traffic systems, hackers could possibly get into these systems.

Experts, in the article, say that new software and hardware must be created in order to maintain drivers’ records and cars safe. With these technology advances becoming the norm in automobiles, it is no wonder the cost of owning a car has increased. Many consumers must take out a loan longer than 5 years in order to keep monthly payments down. Technology does improve our lives but it may also makes things out of our financial means.

Though we are a few years away from everything being connected, for consumers looking to experience the technology that is now available on newer models, there is another option. Taking over the remainder of a lease saves you money and you’re not stuck with the same car for the next few years. Consumers looking to exit their car lease list it on Swapalease.com and are matched with those looking to take over the remainder of it.

Cars, Technology and the Future

Posted on February 16, 2015 by admin

Cars with no steering wheels and no pedals are a lot closer to being a reality than many of us might have imagined. Google has already started working on an autonomous car and hopes to make them available to the public in the next few years. Autonomous cars will bring with it many benefits, according to CNN Money. For both rural and urban residents, autonomous cars can solve many difficulties drivers in both communities face.

According to the article, autonomous driving will make it easier for those who must drive into the city for work and for those living in cities. As car ownership begins to decrease with Millennials being more concerned about the environment, autonomous cars would be more fuel efficient and environmentally friendly as technology continues to advance.

Though residents in rural areas will still own a car, having options on how to get to the city will make for an easier, smoother commute. With car sharing and services like Uber and Lyft increasing in popularity, as well as younger consumers not owning a car, autonomous cars will make driving a no-brainer.

Autonomous cars will not be available to the public for a couple of years and for those who still get excited about that new car smell, taking over a car lease can be the next best thing. Since we are always looking to upgrade and for the next best thing, taking over the remainder of a lease is one way to do this. What better way to get into the newest cars and latest models?

Auto Industry’s Subprime Bubble?

Posted on February 12, 2015 by admin

With the beginning of the year showing much promise for the automotive industry in 2015, some experts are beginning to question if subprime lending will be a bigger issue. Banks and other financial institutions have found that subprime lending is an untapped market and they are willing to work with subprime lenders offering high interest rates and longer loans in order to make owning a car affordable.

The cost of owning a vehicle has increased and most consumers have been required to take out a 60- or 72-month loan in order to keep the monthly prices low. A recent article in the New York Post reported that experts are worried how subprime loans will affect the automotive industry. With a growing number of subprime loans and high interest rates on these loans, experts are worried of the risky implications of this practice.

What’s more, other industry experts say that there is no real risk in the amount of subprime lending because of the ways dealers can manage delinquencies on loans. However, for consumers not comfortable being stuck in the same vehicle for the next several years, there are other options. Taking over the remainder of an existing lease is less expensive, short-term alternative.

Swapalese.com helps individuals exit their lease early and allows others to take over the remainder of that lease. For individuals who no longer need their leased vehicle, exiting their lease early helps them save money. For those who no longer wish to drive their current vehicle and want something new, taking over an existing lease allows for that excitement every few months.

January Sales Show Strong Automotive Industry

Posted on February 9, 2015 by admin

As the novelty of a new year wears off, it seems that the automotive industry has been continuing its steady profit increase that began in 2014. According to a recent WSJ article, the auto industry experienced nearly a 14% sales increase in the month of January alone. With gas prices decreasing, it is no surprise that pickups and sport utility vehicles were the majority of the cars sold.

When Congress bailed out General Motors Co. and Chrysler Group a few years back, President Obama’s goal of reaching 1 million EV sales by 2015 will not be met. Despite great tax incentives, consumers seem to be taking advantage of lower gas prices and are more willing to buy bigger cars such as pickups and sport utility vehicles.

Swapalease.com is the perfect place to find exactly what you’re looking for. Whether you’re looking for a more fuel-efficient, eco-friendly vehicle or something a little bit bigger such as an SUV or truck, Swapalease.com will help you find a vehicle that best suits you.

In the world of instant gratification and ever changing technology, it’s no wonder drivers want to upgrade their car as often as they do their phone. However if you’re stuck in your lease, breaking it could be costly. Why not exit your lease early by having someone else take over its remainder? By listing your lease on Swapalease.com you will be matched up with someone looking for a shorter commitment by taking over what remains on your lease.

Length of Auto Loan Can Be Costly

Posted on January 26, 2015 by admin

Auto loans have been steadily increasing in length and experts are concerned of what this will mean for the automotive industry. According to the Detroit Free Press, “the longer you take out a car loan, the more chances you’re taking with your finances.” Who knows what the economy will be like in six years? In addition, consumers that take out a six year loan can spend an extra $4,000 just on interest. Why be tied to one car for so long? With all the new trends and technologies rapidly coming out every year by the time those six years are up you will want to catch up.

Nevertheless, there are additional income-friendly options for car shoppers. Swapalease.com is the leading online lease marketplace, offering people a chance to exit their lease early. Lease buyers can choose to take over a lease, saving money and getting into a newer vehicle. Leasing has recently helped the auto industry, and consumers have been taking advantage of this more inexpensive option.

Loans are now being stretched out for longer terms in order to make vehicles more affordable and easier on consumers’ pockets. Why not skip chaining yourself to a five or six year loan when you can drive a different car every two to three years? Leasing offers more cars at an affordable price.

Being efficient in your car shopping is essential in getting a good deal. Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com.

Swapalease.com Blog

RELEASE YOURSELF

Tag Archives: auto lease