Leases Account For More Than 25% of 2Q New Sales | Auto Finance News | Auto Finance News

Leases Account For More Than 25% of 2Q New Sales

canstockphoto12714993In its latest State of the Automotive Finance Market report, Experian said that leases accounted for a record-high 25.6% of all new vehicles sold in the second quarter. The same quarter in 2013 saw leases accounting for 23.4% of new sales. Experian noted that the average lease term was 35 months, with 70% of all
leases falling between 25 and 36 months. The three most commonly leased vehicles were all Honda models: the Civic, Accord, and CR-V. Swapalease indicated that lease penetration is even higher in Canada, with more than 40% of new vehicles
being leased.

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