Written by Ally.com
Leasing provides an attractive alternative for customers who desire a new car without the high price tag. The average American new car buyer paid $48,528 in May 2023, leading many to consider a new car unaffordable. Leasing typically offers lower monthly payments and the flexibility to upgrade more frequently, making it appealing to cost-conscious drivers. Additionally, leasing benefits dealerships by shortening the trade cycle, helping to foster loyalty and customer satisfaction.
Leasing aligns well with the growing adoption of electric vehicles, catering to customers who want to keep up with the latest technology. By leasing, customers know they can upgrade to a newer model at lease end.
To ensure successful leasing, dealerships should train their staff on leasing options and how to present them to customers. Integrating leasing into the sales process by quoting lease options to every eligible customer is crucial. Many customers start their car search online, so keeping the dealership's website updated with accurate information about inventory and lease options, and offering digital tools like payment calculators, helps customers evaluate leasing easily.
Follow-up is essential for leasing success. Dealerships should maintain regular contact with customers in their lease portfolio, connecting with them six to nine months before the lease expiration. Early inspections and discussions about options for their next vehicle can also contribute to customer satisfaction. Treating customers as individuals and tailoring lease terms and mileage to their specific needs further enhances the leasing experience. To satisfy a range of situations, Ally provides flexible options with Ally SmartLease ranging from ultralow mileage leases on select makes/models to high mileage leases with 12-month to 60-month terms.
By offering leasing, dealerships can drive customer satisfaction, loyalty, and repeat business. Leasing provides a win-win solution for customers and dealerships alike, offering affordability and flexibility while creating future revenue opportunities.
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