Recently, J.D. Power shared some fascinating insights into how Canadians are choosing to drive home their vehicle of choice, and it's got us thinking about the exciting potential of leasing. According to J.D. Power's latest report, loans have been the go-to choice for many Canadians, representing a solid 51 per cent of new vehicle transactions. But here's where it gets interesting: leases are holding their own at 23 per cent. That's a chunk worth paying attention to, especially when we look at the used vehicle market, where leases currently make up only 2 per cent of transactions. The average monthly payment for new loans is around $850-870. Not too surprising. But what caught our eye is that new leases are averaging slightly lower at $730-750. It's a subtle difference, but it speaks volumes about shifting consumer preferences. People are increasingly seeing the appeal of leasing, and we're here to explore how dealerships can tap into that growing interest. That's where Autovance comes in. Dealerships can navigate negotiations with easily, ensuring every deal is optimized for success. And when it comes to leases, Autovance is your secret weapon for increasing penetration and unlocking new revenue streams. Using Autovance's intuitive platform makes presenting options simple, fast, and enticing. This leads to easier conversations, and gives multiple options to present offers that fit your customers’ budget, while still providing the consistent and lucrative leasing revenue stream. Integration capabilities offer a level of efficiency and convenience unmatched in the marketplace. With seamless integration with DMS and CRM systems, including Quorum DMS, Autovance ensures that dealerships have access to a comprehensive suite of tools that work together seamlessly to drive success. J.D. Power's insights have sparked a conversation about the untapped potential of leasing. And with Autovance, dealerships have the tools they need to seize that opportunity and enhance their competitive edge.
Contact us today to learn how Autovance can benefit your dealership.
