Show Notes with links:
Used car leasing has always been an interesting idea, but carried too many risks. It’s hard enough to predict the residual value of a new vehicle, alone a 4-5 year old vehicle. But predictive analytics combined with today’s wild market is helping used car leasing gain traction.
- Used car leasing has the opportunity to protect a lender’s risk profile and support a customer in a time where affordability is a major consumer concern.
- Rusty West, CEO of MarketScan, believes used-car leasing can alleviate the burden of consumers taking large, high-interest loans.
- “If we continue to shove customers into 84-month and 96-month auto contracts, then we are going to create a difficult environment,” West says. “We must get back to what’s good for the whole automotive ecosystem. Focus on getting back to a healthy transaction.”
- “Used-car leasing remains in the minority, but it is gaining traction. We think we figured it out. Now it’s a question of getting the word out.” - Mark Chandler, Credit Union Leasing of America.
As the US auto market evolves, the once common sub-$20,000 new car is nearing extinction. While SUVs and trucks dominate American choices, the compact Mitsubishi Mirage holds the title as the last car below this price point.
- The Mirage is the last new vehicle priced under $20,000, but Mitsubishi will be discontinuing the model over the next few years
- Five Most Affordable New Vehicles are now: Mitsubishi Mirage ($19,205), Kia Rio ($20,157), Nissan Versa ($20,763), Hyundai Venue ($23,971), and Nissan Sentra ($23,994).
Remember when Netflix was just a DVD mailing service? Well, as that part of its business ends, the entertainment giant is giving a little extra love to that customer base and will send subscribers up to 10 DVDs of their choice.
- The final mailing will be on September 29th and current DVD subscribers can choose up to 10 extra titles to be included. Normally, customers are allowed only 8 discs.
- Since shipping DVDs began in March of 1998, Netflix says it has mailed out more than 5 billion discs to more than 40 million customers.
- Netflix co-CEO Ted Sarandos said that running the business had become increasingly difficult as the number of customers who still rented physical movies continues to shrink.
- “Those iconic red envelopes changed the way people watched shows and movies at home — and they paved the way for the shift to streaming,” he said.
- Those discs will still have to be returned apparently, with returns accepted until October 27, 2023.
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