Auto Sales, Will They Continue Through the Rest of the Year?

Posted on May 12, 2015 by admin

Car sales have really taken off in the first quarter of 2015 and auto experts say this year will surpass 2014’s car sales. However, is this increase starting to taper off? According to Fortune, the auto industry won’t be able to sustain this increase in auto sales for long.

There were 16.5 million vehicles sold in 2014 and automotive organizations are optimistic that they will surpass last year’s sales. Ford, for example, is forecasting 17.2 million sales in 2015. As consumers are feeling the wear and tear of their ten-year-old car, drivers want to try out the latest technology in newer models.

Consumers who are looking to get a new car and want to try out a specific make or model can do so by taking over the remainder of a lease. Swapalease.com gives drivers the luxury to, in a sense, try out a vehicle with a short-term commitment. This gives consumers the freedom to upgrade at their convenience and budget.

As auto sales have seemed to slow, consumers are looking to other options other than buying a vehicle. Why be stuck in a five- or six-year loan when you can save money and drive a couple of cars in that same time period?

In an age where we like to upgrade as often as possible, Swapalease.com allows drivers to do so with their vehicles. After all, why not drive the latest and greatest models? Taking over the remainder of a lease requires no money down, relieves the current lessee of their responsibility and is a budget-friendly option. What more could you ask for when looking for a new car?

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.

Automotive Sales Slow After Steady Growth

Posted on April 29, 2015 by admin

Auto sales seem to have taken a back seat after steadily increasing for a few months. A recent article in The New York Times stated that some of the country’s biggest automakers reported a slight decrease in new car sales. Though the car giants reported selling 1.55 million vehicles in March, the April sales have decreased.

Auto experts forecast that auto sales in 2015 will surpass the 16.6 million vehicles sold in 2014. General Motors reported a 2.4 percent decline compared to 2014. Ford also reported a 3.5 percent decrease in sales. Honda experienced a 5.3 percent decrease in new car sales.

What does this mean for the consumer? Many are coming off leases and are in need of a new car. Unless they plan on purchasing the car, they will be in the market for a new vehicle and dealers are ready to cut a new deal with returning customers.

However, not everyone is looking to purchase a new vehicle or start a new lease. For those who want to have a short-term commitment taking over a lease can be the best option. With no need for money down, it is the best way to get more car at an affordable price.

Taking over the remainder of a lease can be a breeze. Buyers looking for a shorter-term commitment are matched up with sellers looking to exit their lease early. Swapalease.com helps individuals get what they are looking for, without much hassle. Why not upgrade as often as you’d like? If we can do it with smartphones, we should be able to do it with cars.

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?

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 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.

More Vehicle Sales Equals Longer Loans

Posted on March 6, 2015 by admin

Owning a car is a dream that many can relate to. Usually owning a car is one of the first big decisions we make as we enter into the adult world. However, that dream has been harder and harder to achieve in the years since the Great Recession. There have been many reports recently highlighting the fact that the average auto loan has increased.

A CNBC article brought to attention the fact that most auto loans now are 73 to 84 months. Though sales of new vehicles have increased, so has the average loan length. In a previous post, we said that the longer the loan, the more consumers will pay in interest. What’s more, as cars are lasting longer, the wear and tear the car experiences as time goes can mean bad news for your budget.

Why limit yourself to driving just one make and model for the next five or six years when you can drive a few different makes and models during that same time. Swapalease.com helps drivers do that. As the largest online lease transfer online marketplace, they help drivers who no longer want to be in their lease, exit it early.

For buyers, taking over a lease might be just the kind of commitment to take on. With no down payment required most of the time, buyers can take over the remainder of a lease, saving them money and time. Don’t restrain yourself to driving the same vehicle for the next five years when you can drive the latest models simply by taking over the remainder of a lease.

Be Wary of Long-Term Auto Loans

Posted on March 4, 2015 by admin

When buying a new vehicle, most consumers will take out a loan in order to make the car more affordable. Recently, however, consumers have been taking out longer loans to have lower monthly payments. The problem is that taking out a five- or six-year loan may not be the best option because it doesn’t necessarily mean that that vehicle is a financially feasible option.

A recent article in The Buffalo News mentioned how drivers are so concerned about lower monthly payments they are not taking the value of the car itself into consideration. Having low monthly payments is great for consumers but since cars are lasting longer, taking out a five- or six-year loan may mean that your finances can take a big hit when it comes to normal wear and tear on the car.

What’s more, the interest rate buyers pay on longer term loans is also something to take into consideration. Though lower monthly payments may seem more attractive, the amount of interest rate you end up paying on a longer-term loan is not always worth it. Consumers should follow the 20/4/10 rule. Put down at least 20%, take out a loan no longer than 4 years and keep monthly cost of the car under 10% of total gross income.

For those who choose not to purchase a car because they don’t want to be in the same vehicle for the term of their loan, Swapalease.com offers drivers the chance to take over the remainder of a lease. With no down payment required, taking over a car lease is the short-commitment you’re looking for.

Because cars are lasting longer you might be stuck in your make and model for a few years but Swapalease.com offers you the chance to drive a different, newer car every few months. For drivers looking to get out of their lease early, listing it on Swapalese.com allows you to walk away with no hassle. So what are you waiting for?

Uber’s Tricky Financing Terms

Posted on February 27, 2015 by admin

For drivers with low or poor credit, buying a car can prove to be a challenging experience. For those who have always dreamed of owning a car, Uber may have a solution though experts are wary of their terms and conditions. An article in Nerd Wallet talks about the kind of deal Uber is offering its divers looking to own a car who may have poor credit.

The article talked about how difficult it can be for subprime lenders to get a loan at a car dealership and what Uber is doing to help those drivers out. By putting $2,000 down to begin a lease, the ride-sharing company will simply deduct payments from drivers’ paychecks, as little as $17 a day. However, not everyone is convinced this is the best way to own a car.

Industry experts say that, though it may be difficult to get a car loan, banks have been willing to work with subprime lenders. Usually borrowers have to pay higher interest rates but there is less risk involved in those kinds of loans compared to what Uber is offering. What’s more, there has been more subprime lending as of late, which makes it easier for those lenders to get a new car.

For lenders who have good credit and are looking to get into a new ride, Swapalease.com may have the perfect solution. As we begin to treat cars like phones, always on the lookout for the newest model, why not take over an exiting lease? Drivers who are looking to exit their lease early list it on Swapalease.com and are matched with buyers interested in taking over their lease.

In most cases, sellers offer incentives and no down payments are required. Both parties benefit from the transaction. 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.

Technologies Becoming Obsolete in Cars

Posted on February 26, 2015 by admin

Cars now-a-days come with all the bells and whistles. Most cars come with the usual technology such as navigation systems, satellite radio, and in-car apps. But are some of these technologies becoming obsolete in newer cars? A recent article in The New York Times explains how technology that was once so popular is not really necessary in cars anymore.

The article points out three technologies that are not needed in cars anymore such as CD players, GPS, and automaker app systems. For example, the article states that the ownership of CDs has greatly decreased yet cars still come equipped with CD players. Also, most cars have navigation systems built in, especially with CarPlay and Android Auto, so GPS’ are no longer needed. What’s more, automaker car apps are outdated because our phones have everything consumers need.

Most people today want to drive around in the latest cars with all of the latest technology and as more of it comes standard, some of the older, outdated technology has no use or purpose in newer cars. However, a lot of the higher-end technology does not come standard and those packages on new cars can really raise the price tag.

We’ve seen the price of new vehicles increase and consumers must take out longer loans in order to make monthly payments manageable. For those who want to have more car for less money, taking over an existing lease is a sound, budget friendly option.

Taking over an exiting lease helps both seller and buyer. Instead of losing money when handing in their lease early, a seller will list it on Swapalease.com the largest online lease marketplace, and will be matched up with an interested buyer. Both parties get what they are looking for, saving money in the process.

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.

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