Tag Archives: millennials

The Rise of Auto Sales and Millennials

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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.

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.

Digital Advertising Rising in Auto Industry

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Consumers today are smarter and more informed when it comes to car shopping than in the past. The Internet has made comparing deals, vehicle makes and models easier and faster than visiting multiple dealerships. However, dealerships must have a strategy in place on converting visitors into buyers.

A recent article in Epoch Times discussed how dealers are beginning to understand the importance of not only having a web presence but also spending money on digital advertising. In order to reach your target audience, especially Millennials, dealerships must meet drivers where they are. However, as Millennials are delaying making big-life decisions such as buying a car, it poses a new challenge for how dealers can persuade this demographic.

The rate of unemployment coupled with school loan debt and living at home longer, has made it difficult for Millennials to begin their adult life. For many, purchasing their own vehicle is unattainable because of how expensive cars are. Though lenders are offering longer loans to make payments more manageable, the best option for emerging adults could be taking over an existing lease.

Swapalease.com offers individuals looking to get out of their current lease an alternative to breaking their lease. These individuals are matched with drivers looking for a short term, budget-friendly commitment and can take over an existing lease. For Millennials, it’s the perfect solution to purchasing a brand new vehicle. It’s more bang for your buck.

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 Swapalease.com.

Auto Industry Experiencing Nice Boost

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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. Swapalease.com 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, 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.

Millennials and the Future of Car Buying

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As Baby Boomers and Gen Y continue to age, car manufacturers and dealers must find a way to reach Millennials. As this demographic continues to grow, their buying power and influence will be critical for car makers to acquire.

Millennials are emerging as one of the largest demographics, and will soon become influential decision makers and take up the bulk of the purchasing power. A recent CNBC article reported the importance of marketing to Millennials as they venture into adult life. Though they’re making major decisions later on in life, they will soon be the driving force in the economy.

Now that we’re in an age where we want the latest and greatest all the time, Millennials are leading this charge, particularly when it comes to car shopping. Gone are the days of holding onto the same car for ten years. According to Experian, the average length of ownership has fallen below 65 months, which means most people today get a new car every 4-5 years.

As Millennials look to social media for information when making decisions, Swapalease.com is a great place to start for individuals looking for a great deal on a vehicle. The largest online car lease marketplace, Swapalease.com has all makes and models to suit individual preferences, even tech-savvy Millennials.

For Millennials looking for compact cars, environmentally friendly models or for the best deal, Swapalease.com makes getting into one of these vehicles simple and easy. By matching someone looking to transfer out of their lease with someone looking to takeover that lease, both parties get what they’re looking for.

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, contact Swapalease.com at 866-SWAPNOW.