You might need sharp eyes to notice, but Experian spotted an extremely slight decline in the volume of new-vehicle leasing booked during the second quarter.
Analysts also pinpointed the top 10 models generating the most leasing volume in Q2. And two of the vehicles can be seen pretty easily in a driveway or parking lot.
According to Experian’s Q2 2019 State of the Automotive Finance Market report, new-vehicle leasing saw a slight decrease as a piece of all new-model financing, softening from 30.41% in Q2 2018 to 30.04% in Q2 2019.
Experian also determined which 10 models rolled over the curb most often with leases attached during the second quarter. While sedans and crossovers filled much of the list, a pair of full-size pickups were included, too.
Here is the rundown:
1. Honda Civic: 4.2%
2. Chevrolet Equinox: 3.2%
3. Toyota RAV4: 2.7%
4. Honda CR-V: 2.5%
5. RAM 1500: 2.4%
6. Honda Accord: 2.2%
7. Jeep Grand Cherokee: 2.2%
8. Nissan Rogue: 2.0%
9. Ford F-150: 1.7%
10. Volkswagen Tiguan: 1.7%
Likely swaying consumers who want a full-size pickup to opt for a lease is the difference in payment that Experian reported. The average lease payment in Q2 for a RAM 1500 came in at $468 while for the F-150, that average checked in at $478.
Conversely, Experian found that the average monthly payment for a retail installment contract bought in Q2 for that same RAM 1500 computed to $657. And for the F-150, it was $667.
Also of note on the leasing front, Experian mentioned average terms grew slightly in Q2, moving from 36.19 months to 36.76 months.