More Car Buyers Than Ever Are Paying Over $1,000 Per Month To Finance Their New Vehicle | Carscoops carscoops
of luxury vehicles are choosing to purchase their vehicles outright rather than lease them. Edmunds has revealed that new-vehicle lease penetration dropped to 16 per cent in Q4 2022 compared to 29 per cent in Q4 2019. New-vehicle lease penetration in the luxury segment dropped to 26 per cent in Q4 2022 from 53 per cent in Q4 2019.
finally started to cool off in Q4, rapidly rising interest rates created an even greater barrier to entry for consumers who rely on financing – which is the vast majority of car shoppers,” Edmunds’ director of insights, Ivan Drury, said.
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