It all added up to choices consumers considered as their leases neared expiration, according to Satyan Merchant, senior vice president and automotive business leader at TransUnion.“Should I turn it in and then try to go get a new lease? Well, number one, that new car wasn't there.
Indeed, the TransUnion study found so-called lease-to-lease loyalty increased for both manufacturer and make since 2019, while lease-to-loan loyalty declined over that period posing the challenge of customer retention. That's why dealers depend on what Merchant terms the flywheel of the lease, explaining, “it's when you get
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Auto Shoppers Abandoned Leasing Threatening Dealer Profits, Brand Loyalty, Study ShowsLack of inventory and low interest rates turned consumers away from leasing new cars and trucks in over an 11-month period eroding brand loyalty and costing dealers profits according to a study released by global information and insights company TransUnion on Thursday. Why will I be loyal to Ford? My Lincoln MKZ was rear ended in Aug 2022, it is Jan 19, my lease expires tomorrow, the car? Still in the shop. Paid the lease,had to rent a vehicle,Lincoln credit points at the dealer. My solution, don't get Ford ever again! Thieves Ford
Source: ForbesTech - 🏆 318. / 59 Read more »
Auto Shoppers Abandoned Leasing Threatening Dealer Profits, Brand Loyalty, Study ShowsLack of inventory and low interest rates turned consumers away from leasing new cars and trucks in over an 11-month period eroding brand loyalty and costing dealers profits according to a study released by global information and insights company TransUnion on Thursday.
Source: Forbes - 🏆 394. / 53 Read more »