When it comes to consumers taking over someone's vehicle lease contract, they appear to be pretty particular about which brands they are considering.
According to its quarterly lease trends report for the second quarter released on Tuesday, Swapalease.com discovered only three badges increased in search traffic from the first quarter. That group included Infiniti, Ram and Chrysler, which saw a rise in search traffic by 10 percent, 5 percent and 3 percent, respectively.
Among domestic brands, the report showed GMC saw the largest decrease in the quarter for search traffic. The brand saw its level soften by 12 percent. A year ago, Swapalease.com pointed out that GMC’s brand searches were up by 14 percent, showing that consumers may be turning their attention elsewhere for leases.
For European brands, the report indicated Volkswagen saw the biggest dip in search traffic, decreasing by 11 percent compared with the first quarter. Not a single brand in the European category increased in search traffic this quarter.
Within the Asian brand category, the report noted Acura performed the worst, decreasing in traffic by 11 percent.
Infiniti claimed its position as the largest share of overall traffic (10 percent). A year ago, it was Ram that boasted the most search traffic out of all categories.
Swapalease.com determined the average monthly payment on a lease in Q2 came in at $474.39, which is a slight change from Q1 when the average payment was $436.35.
BMW is currently the most expensive brand to lease with an average monthly payment of $862. Conversely, Volkswagen is the most inexpensive brand to lease with an average monthly payment of $318.
The report also mentioned that higher-priced leases — monthly payments above $500 — saw increases in the second quarter compared with the first, possibly indicating continued strength in the economy.
“Our second quarter lease trends report shows that leasing remains strong in the automotive marketplace today, with increases in value of payment and number of leases in the driveways,” said Scot Hall, executive vice president of Swapalease.com.
“We’re also seeing growth in SUVs, crossovers and sports cars interest, which mirrors much of what is taking place in the broader automotive market today,” Hall added.
The complete Q2 report can be downloaded here.