Are car leases going to become a thing of the past? At least for a while?
Chrysler will be cutting out leases, since the current buying/leasing climate isn’t turning them a profit. To compensate, as it were, they’re extending their 0% financing options. I’m wondering if other automakers and dealers will start following their example. So many are now dropping SUV prices and the like because people just aren’t interested in buying.
A little voice in my head wonders “Will people start making the best car choices for their finances?” I don’t feel optimistic. Necessity may force some to adapt. And for others it will bring a wakeup call to be more practical and stay that way even when their finances get freer again. I suspect that the dozens of new PF bloggers popping up over the last months are reflected in the offline world as well.
In the end, if you have enough money you can even lease if you’d like to. It may not be the most practical decision, but it’s still your option. Having enough money buys that option. However, for the majority of us buying a sensible car and maintaining it . . . and running it into the ground . . . is sensible the way to go.
Do you think that this change in auto leases will bring about a positive change in US practices? Too soon to tell until we see if more adopt it? Nothing can stop American consumerism? … 😉