CINCINNATI -

Lease marketplace Swapalease.com suggested American dealers look north when considering how to improve their leasing services.

With Canada’s historically high leasing rates, Swapalease — which works with customers in both countries — noted some interesting differences in how lease programs are structures, including transfer of ownership, and contends it would serve U.S. dealers well to take a page out of our northern neighbor's book.

First, we have to take a look at the lease penetration rates. Though leasing isn’t as popular as it was in Canada before the economic downturn in 2008, for many vehicles, lease penetration rates remain above 40 percent.

Contrast that to American leasing penetration rates, which sits right around 25 percent.

According to Experian's latest State of the Auto Finance Market report, of all new vehicles sold in Q2, leases accounts for a record high of 25.6 percent, up from 23.4 percent the previous year.

Though some of this discrepancy could be due to the fact cars are more expensive to purchase in Canada, Swapalease says there other factors pushing leasing in Canada, as well.

For example, the site pointed out that leasing transfers between individuals are handled at the dealership, not by the individuals themselves.

Since both the individuals involved in the switch are already at the dealership, the dealer has a better chance of selling the outgoing lessee into a new vehicle.

Dealers are also making a bit more on the deal, as many Candian dealers charge their own fee for lease transfer processing.

Swapalease.com contends this process leads to a faster transfer as well as profit opportunities from service arrangements for both customers.

"In many cases, the incoming lessee can ask questions about the vehicle and receive inspection assurances on the spot, while the outgoing lessee can arrange for new transportation needs all in one day," said Scot Hall, executive vice president at Swapalease. "Since time is money in a lease, the outgoing lessees also benefit by the expedited time frame, eliminating extra monthly payments in a lengthy transfer approval process."