Mayhap you haven’t heard, but Chrysler doesn’t want to lease you a car. That means Dodge and Jeep won’t either. Don’t take that to mean you’re not permitted to lease a Chrysler, Dodge, or Jeep – you just have to do it through somebody else. Other companies are really stamping on the leasing brakes, too. Why? Have a look.
4 – BMWs on the ‘top ten most commonly leased vehicles’ in American list
19.7 – percentage of total July automotive “sales” actually consumed by leasing, as 53.8% direct automaker loans
36 – typical number of months, in advance, that an automaker must predict the residual value of the vehicle it is leasing, meaning the value of the vehicle when the lease expires, a time when many previously leased vehicles head for auction
2,100,000,000 – lease-related losses, measured in dollars, for Ford Motor Company in the second quarter of 2008
22.9 – percentage drop in the auction sale price of full size pickup trucks in July, compared with July of 2007
24.4 – percentage drop in the auction sale price of full size SUVs in July, compared with July of 2007
13.3 – percentage drop in the auction sale price of luxury SUVs in July, compared with July of 2007
18 – early lease returning, measured in months, that automakers are sometimes recommending because the value of an owner’s vehicle is dropping so rapidly; a recommendation unheard of just two years ago
2,000,000,000 – lease-related losses, measured in dollars, for General Motors in the second quarter of 2008
The math ain’t hard to understand. Not long ago, an automaker may have leased a $35,000 SUV, predicting the residual value to be $21,000. That SUV just came off lease, and it’s actually worth $16,000. That sucks.