Leasing: The Lost Art
The Shift Towards Electric Vehicles (EVs)
It's time to talk about electric vehicles, also known as EVs. People seem to have differing opinions about this concept, and some are hesitant to embrace change. Additionally, rising vehicle costs and interest rates have led many consumers to believe that they can't afford a new EV. This is where leasing can be a helpful solution.
Understanding the Benefits of Leasing
In reality, most consumers do not fully understand the leasing concept, and some may have had a negative experience with it in the past. However, leasing an EV—or even a regular vehicle—can make the payment more affordable for consumers.
Additionally, EVs are regulated regarding which ones qualify for the $7,500 tax credit. When you lease, the tax credit is automatically applied. The lessor is reimbursed the credit, while the lessee benefits immediately without needing to do anything extra.
The Importance of Education in Leasing
Whether consumers prefer to buy or lease, educating them—and your salespeople—is key. This ensures that consumers can make informed decisions, and your salespeople can confidently answer their questions and show the comparison between buying and leasing.
Embracing the Future of EVs
Like it or not, the future is moving toward EVs, and dealers must find a way to embrace and maximize them.
Written by Stephany Whitted
Wendt, R. (2023, November 2) *The Road to EV Sales* Auto Dealer Today
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