Auto Industry Experiencing Nice Boost

As the economy continues to flourish, consumers are more confident making important and long-term purchases such as buying a car. What’s more, as Millennials are entering the workforce and adulthood many are purchasing their first car. As the automotive market continues to grow, consumers have more options when making the decision to purchase a car.

A recent report in Auto Remarketing divulged the results of the most recent Experian Quarterly Briefing. There are more vehicles on the road this year than the same time last year. A total of 249 million vehicles, compared to 247 million in 2013. What does this mean? The automotive industry has experienced a nice boost in automobile sales, especially in used cars.

Also, auto lenders have expanded their lending portfolios giving more buyers the opportunity to own a new or semi-new vehicle. Allowing buyers to take out 66- or 72-month loans, lenders are trapping drivers for the next few years in one vehicle. But why get stuck in a long-term loan when leasing a car allots drivers the opportunity to drive a new vehicle every year or so?

Car leasing has grown in popularity lately and it is a much smarter, cost-effective solution to purchasing a vehicle. is the largest online lease marketplace helps drivers exit their lease early. Individuals looking to take over the remainder of a lease are matched up with someone looking to exit their lease.

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

Should You Arrange Financing At The Dealership?

Financing your new lease or purchase at a dealership can be confusing. It can be difficult to understand in the moment, and you don’t want to agree to something that you don’t entirely understand.

Because of the hefty amount of verbiage involved with lease financing, let’s simply break it down piece by piece to understand it further. To start, if you don’t have cash to pay for a vehicle, financing for a lease is how you pay for the vehicle throughout the duration of the lease contract.

But should you finance your lease at the dealership, or should you arrange for an outside lender to finance your lease?

Pros of financing at the dealership is that it can be convenient, and sometimes quicker than doing it elsewhere. What’s more, dealers will often provide additional incentives if you go with their own finance arm – called a captive. However, cons include high pressure, and that loans are sometimes front loaded, meaning that payments are made up of more interest in the beginning of the loan than toward the end.

Before you arrive at the dealership, be prepared. Try to have a loan agreement already in mind. According to JD Power and Associates: “by doing so, the consumer has already determined what his or her credit rating is, has qualified for a loan at an acceptable interest rate, and knows what he or she can afford in terms of purchase price and a monthly payment. Having financing arranged in advance also encourages the dealer to come to the bargaining table with their best financing offer, saving both parties time and possible frustration.” This also includes searching for alternative financing options.

At the dealership, realize the correlation between the monthly payment and the interest rate. As mentioned in the cons, a car’s monthly payment can be low at the front end of the agreement, but it may have a higher interest rate. Also realize that the financial institution will give the dealer a small percentage of the interest charged for the loan, which means the dealer earns additional profit on the sale of the lease. Naturally, this means the salesman is also looking for a deal that benefits him as well.

With vehicles on, many leases skip the confusion on the front end and only need a monthly payment.  Because the vehicles on the online marketplace are currently in lease, other fees such as down payments are not required. Only a cheap, short-term monthly payment.

For more information on finding the best car lease deal or to learn how you can have a successful car lease trade, contact at 866-SWAPNOW.