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Leasing’s New Look: Financiers Give Lease Options a Makeover

From the February issue: With new-car purchases lagging and used-values increasing, captives and OEMs are reimagining lease products to keep their customer bases growing. Roughly a decade ago, 1.4 million new vehicles were leased — a 16% penetration rate. Fast forward to 2019, and lease volume is expected to reach 4.1 million, with penetration as […]

Dealers Negotiate Lease Prices in New Lexus Program

Toyota Financial Services is piloting its Lexus Complete Lease program with 80 dealerships in seven states, though the timing for a national rollout is still undecided, Joanna Dean, general manager for finance products at TFS, told Auto Finance News. “[TFS] will continuously evaluate the success of the program and decide on the expansion into additional […]

General Motors to Shut Down Cadillac Subscription Service by Yearend

General Motors Co. is reportedly hitting the pause button on its vehicle-subscription service, Book by Cadillac after launching nearly two years ago in Los Angeles, Dallas, and New York. A GM spokesman confirmed the OEM plans to shut down the service by yearend, the Wall Street Journal reported. However, there is still a chance that […]

Toyota Seeks Personalization, Transparency With New Lexus Bundled Lease

LAS VEGAS — Personalization and transparency are top priorities in Toyota Finance Services‘ Lexus Complete Lease program, slated to launch in the first quarter of 2019. The program is one of nearly half a dozen pilot programs the OEM has launched, including Flexible Lease through Uber, Car Sharing pilot in partnership with Get Around, and short-term lease pilot […]