August Auto Lease Prices Increase By Up To 54% On Several Vehicles

Several Brands Increase Lease Prices by up to 54% on Vehicles of All Sizes as New Model-Year Units Enter Showroom; Interest Rate Hikes Take Effect

Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings for the month of August.  Several automotive brands significantly raised prices on lease deals for mid-size and full-size cars, as well as pickups and SUVs. With rising interest rates on new vehicles and 2019 models hitting dealership lots, the average monthly car payment on a new lease is showing an increase.

Among the most notable lease price increases are the Volkswagen Jetta with an increase of 17%, followed by the Nissan Pathfinder with an increase of 22.89%, the Toyota Avalon with an increase of 48.82%, the Ram 1500 Big Horn with an increase of 54.26%.

The Volkswagen Jetta is offered at $248.42 per month, and the Nissan Pathfinder is offered at $382.31 per month.  The Toyota Avalon is offered at $332.31 compared to last month where the vehicle was priced at $162.22 per month.  The Ram 1500 Big Horn was previously priced at $137.79 per month, and now starts at $253.96 per month. 

Over the past two years, interest rates have gone up over 6 times, prompting consumers to take action and lock-in lower interest rates while they can.   

The Nissan Sentra is priced at the lowest of all vehicles for the month of August at $189, down by -8.83% from last month at $207.31.  Other vehicles offering lower prices on new lease deals include the Honda Pilot (-13.45%) for $411.19 per month, and the Nissan Titan (-6.47%) offered at $390.08 per month. 

“We believe the increase we’re seeing is due to the steady rise of interest rates over the past year, and these rate hikes are now getting priced into deals,” said Scot Hall, Executive Vice President of Wantalease.com.  “Several OEMs have made it clear they are reducing incentives on lease deals, but it’s quite possible that these rate hikes will also begin to be felt on financed deals as well. This is one major reason why we continue to see an increase in shoppers searching for vehicles on alternate channels such as Swapalease.com, where a person takes over an existing lease contract.” 

Wantalease.com is a sister marketplace to Swapalease.com, the nation’s largest online marketplace for leases.

About Wantalease.com:

Headquartered in Cincinnati, Ohio, Wantalease.com is the world’s first online automotive marketplace for new car leases. For more information visit www.WantAlease.com.

Views: 31

Comment

You need to be a member of DealerELITE.net to add comments!

Join DealerELITE.net

Latest Activity

Profile Icon via Twitter
Twitter34 minutes ago · Reply · Retweet
Dave Anderson's 2 blog posts were featured
39 minutes ago
Profile Icon via Twitter
Checking out "How Did We Do?" on @dealerELITE: https://t.co/DfPF7bzPfb
Twitter12 hours ago · Reply · Retweet
Anne Fleming's blog post was featured

How Did We Do?

As a part of your toolbox for improving the customer experience and reputation building, reviews…See More
12 hours ago
Dave Anderson posted a blog post

The “Wow” is Worth It!

Author Joe Calloway described a “brand” well in his book Never by Chance: “A brand is defined as a…See More
12 hours ago
Anne Fleming posted a blog post

How Did We Do?

As a part of your toolbox for improving the customer experience and reputation building, reviews…See More
13 hours ago
Black Book posted blog posts
21 hours ago
Crystal Hartwell posted a blog post

Dealership Buy/Sell Market Marked Fifth Consecutive Year of 200+ Transactions in 2018 with Continued Growth Predicted for 2019

  2018 transactions increased 6.9% year over year, including record number of multi-dealership…See More
yesterday
Dave Anderson posted a blog post

Fixed Mindset or Growth Mindset?

When it comes to your thinking, you either have a fixed mindset or a growth mindset. Because your…See More
yesterday
Jim Flint posted a video

How to Play Defense on Google Ads

CEO & Founder Local Search Group Jim Flint discusses how dealers can have a good defensive strategy in their pay-per-click campaigns.
yesterday
Damian Boudreaux posted a blog post
yesterday
Isabella Rossellinii posted a blog post

Identify The Real Health Risks Of Using CBD Products Before Using

It is just within a few years that CBD or cannabidiol has become enormously popular all over the…See More
Tuesday
John Sternal posted a blog post

New Infographic Makes Case for Reinsurance Review

Protective Asset Protection, a provider of F&I programs, services, and dealer-owned warranty…See More
Monday
Samuel posted a blog post
Monday
Michael Trasatti posted a blog post

DealerBuilt Partners with ParkerGale Capital to Further Company Growth & Innovation

With increased capital & resources DealerBuilt will further improve customer service &…See More
Monday
Bill Wittenmyer posted a video

Witt's Wise Words: Getting the Most Out of Your CRM

CDK Global VP of Sales Bill Wittenmyer shares how dealers can get the most of their CRM investments in this episode of Witt's Wise Words.
Monday
Mike Esposito posted a blog post

Auto/Mate Sets Dates for the 2019 National Customer User Summit in Nashville, TN

ALBANY, N.Y. – March 18, 2019 – Auto/Mate Dealership Systems today announced that its…See More
Monday
Profile Icon via Twitter
How to perfect the lean in understanding your customers body in sales. - https://t.co/fRWOKTU2Ma https://t.co/peTA5hM5xA
TwitterSunday · Reply · Retweet
Profile Icon via Twitter
Internet Sales 20 Group 12 - Nashville, TN March 18th-20th - IS20G - https://t.co/fRWOKTU2Ma https://t.co/2MXLY9jiIM
TwitterSunday · Reply · Retweet

Get Newsletter

© 2019   Created by DealerELITE.   Powered by

Badges  |  Report an Issue  |  Terms of Service