A new press release from a somewhat obscure auto lending company shows how the move toward greener vehicles in America might affect leasing customers. The focus of this piece is a General Motors vehicle set to debut in 2012: the Chevrolet Sonic. This subcompact, according to auto industry experts, is going to help change the options for American borrowers. MSRP for the Sonic will start at around $14,000, and the car will get over 40 miles per gallon on highway, helping drivers to save even more money over time. The Sonic will also be an American-built car. According to press reports, the main facility for production of this car will be in the suburbs of Detroit. Experts report a good relationship between General Motors and the United Auto Workers union, where the manufacturing of the Sonic represents a rare display of coordination between union leadership and private management.
The company putting together this notice to American consumers is called Swapalease: this company operates a marketplace for leased vehicles. Swapalease staffers believe that the Chevrolet Sonic represents a sea change toward smaller, leaner vehicles with innovative engine designs that will help make lease terms more attractive as borrowers can choose cars with reduced monthly payments and less total financial liability. Where traditional lease agreements added money to the deal by offering bulkier, more expensive vehicles, lease trends for the newer generation of sleek compacts and smaller cars are expected to help make leasing more affordable.
Consumers can use this kind of information to lease cars at more attractive rates, but another critical issue is to understand whether leasing or financing makes more sense for a particular household. There are opinions on both sides of the aisle when it comes to the question of leasing vs. owning: on the one hand, leasing leads to less hassle when the vehicle ages and depreciates, but on the other hand, some of those who make monthly payments on a car or truck would never do this if they could not hold the title and anticipate owning the vehicle outright when it is paid off. Just like with renting vs. owning, the buyer needs to take a good look at his or her projected financial situation over time, as well as researching the best financing interest rates and offers available, to come up with a strategy for keeping transportation costs a more manageable part of the household budget.