Thanks to the falling prices of used vehicles, especially trucks and SUVs, GM and Ford are scaling back their leasing programs, and Chrysler is getting out of the game altogether. This morning I had a chat with Sergio Stiberman, the CEO of LeaseTrader.com, and he had some interesting data from the secondary market. LeaseTrader.com is a site where people who hold auto leases can sell them to other people—instead of paying a big penalty to cancel the lease.
What deals are being made on LeaseTrader.com these days? Not surprisingly, big cars are out, and smaller ones are in. Here’s a list of the top ten most-transferred leases in January:
1. BMW 3 Series
2. Mercedes C Class
3. BMW X Series
4. Land Rover Sport
5. Cadillac Escalade
6. Cadillac CTS
7. BMW 5 Series
8. Mercedes SL Class
9. Mercedes E350
10. Mercedes S550
This is what the list looked like in June:
1. BMW 3 Series
2. Mini Cooper
3. Mercedes C Class
4. Toyota Camry
5. Cadillac CTS
6. Mercedes SL Class
7. Land Rover LR3
8. Lexus IS 250
9. BMW X Series
10. Mercedes GL Class
Good-bye, Escalade—and don’t let the door hit you on the way out, Land Rover. Hello, Mini Cooper and Camry.
Barbara!