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<\/a>Lease incentives are around the corner, just in time to take advantage of record lease penetration. Recent vehicle registration data released by Polk stated that new cars accounted for 29 percent of all sales<\/strong> through May, which puts the year on pace to top last year\u2019s rate of 27.6 percent<\/strong>. This is the highest penetration of new cars in the last five years. According to Edmunds, leasing is behind this breakthrough accounting for 25 percent of new cars sold<\/strong>.<\/p>\nAt this time, it is vital that your sales team is trained to not only close a sale, but also a lease. The most important question to ask yourself is, \u201cDoes my team know how to position leasing vs. a traditional loan?\u201d If you don\u2019t know the answer, then these tips will help refresh your team until you register<\/a> <\/strong>for EFG\u2019s lease training workshop.<\/p>\n Everyone knows that all vehicles depreciate in value as soon as they are driven off the lot. However, few consumers make the connection that their vehicle depreciates at the same rate whether they lease or buy. The only difference lies in what they pay for. Think about what most customers say is their single biggest expense<\/strong> is in owning a vehicle. They either say their monthly payment or gas. The truth is that their single biggest expense may be the hidden cost of depreciation.<\/p>\n Most customers don\u2019t learn about this expense until it\u2019s too late \u2013 at trade-in time, when dealerships offer them less than what they expected or needed. Offering them a lease is a great way to manage the depreciation expense and make the trade-in process easy.<\/p>\n When positioning leasing, just as with purchasing, your sales team needs to understand their customers\u2019 needs<\/strong>. Advise your customers that when they buy, they commit to the entire cost of the vehicle<\/strong> \u2013 no matter how many miles they drive or how long they keep it.<\/p>\n While leasing is on the rise, there will always be people who prefer to buy. That\u2019s why it\u2019s important to ask the right qualifying questions before positioning a lease, such as:<\/p>\n In the end, your sales team needs to help their customers decide what matters to them. The decision to lease or buy depends entirely on their lifestyle and what they feel comfortable with.<\/p>\n With more than 35 years of insight into the consumer mindset in the auto retail space, EFG\u2019s Transcend Group<\/a><\/strong> knows how to train your team to readily position the benefits of leasing compared to 3, 4 and 5 year retail loans. They also gain a deeper understanding of how closing a lease benefits them and the dealership.<\/p>\n<\/a><\/p>\n
\nIf they have a predictable lifestyle, drive a low average number of miles, properly maintain their car, and want to make trade-in easy, then leasing may be a good option. Top selling points for a lease include:<\/p>\n\n
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