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Leasing Now At All-Time High With Potential For More Volume Ahead

Oct 18, 2013

According to latest State of the Automotive Finance Market report, released by Experian Automotive, leased vehicles accounted for nearly 28% of all vehicles financed in the second quarter of 2013, up from 24.4% during the same time period last year. In addition, Experian reports that the average monthly payment for a lease contract written in the second quarter of 2013 was $408 for 35 months. Lease deals available from many manufacturers are driving the total number of leases to levels not seen since before the 2008 recession.Industry press also reports that as many as 41% of vehicle owners are likely to lease their next vehicle, up from 30% who said they were likely to lease their next vehicle last year. This data indicates there is still tremendous room for growth in the leasing market for many dealerships.