Ford and GM May Offer Better Lease Deals Soon
For many years, car shoppers have perceived domestic brands as having lower quality vehicles compared to import brands. Now according to a new survey, these perceptions are changing which could affect car pricing and leasing for many years to come.
The survey found that slightly more Americans now think the United States makes better-quality vehicles than their Asian counterparts. This is in stark contrast to a similar survey conducted in 2006 which found the opposite result.
Many attribute the results to the recent recall and safety issues experienced by Toyota and Honda owners. In the same period, Ford and GM have seen strong sales and received high marks for quality and satisfaction.
As more and more car shoppers perceive the higher quality of Ford and GM vehicles, their residual values start to rise. This has already begun, with some late-model used vehicles rising in price by up to 10%.
When residual values rise, car manufacturers can start offering better lease deals. We're likely to see these better lease deals as early as this fall for Ford and GM vehicles. If you're considering buying one of these vehicles and you don't mind waiting, your best chance to land a great deal will be near the end of summer when the new model year vehicles start rolling in.
My Recommendation for Car ShoppersTrueCar No-Haggle, Edmunds Price Promise, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
California Residents - Important:There is a new online car buying service called Roadster, available only to California residents, which I highly recommend you try - especially if you hate the stress of haggling with a car salesman. They provide an expert concierge who negotiates the price of the car and delivers it to your home with zero hassle - you never have to interact with a dealership. Here is my in-depth review of Roadster and why I recommend it.
- Gregg Fidan
About: Gregg Fidan
Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
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