The trend of leasing cars has been up for at least six months, with significant spikes in the leasing of Mercedes-Benz and BMW, but also in Ford, General Motors and Chrysler, according to Cars.com. The report came from a study by R.L. Polk & Co., an auto marketing and data collection company.
This rise comes after a difficult fall in 2009, during the credit crisis. Great Lakes states still have not recovered from this decline, despite the fact that the region was once the largest for leasing. However, these states have shown the most growth since 2009, when the national lease rate was 13.1 percent.
In 2010, nearly 19 percent of all car shoppers leased a car, up nearly 6 percent from the previous year. National lease rates had not been this high since 2007, when they made up 19.1 percent of auto sales business. Leasing made up 50 percent of business for Mercedes-Benz and BMW. The website notes that this news is particularly good for individuals looking for low monthly payments on their car.
Shoppers with bad credit may also consider leasing a car for this reason, and can apply for bad credit car loans online.