Make Money by Leasing Electric Vehicles Instead of Selling

BY Rachel Cagle
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"For most American car shoppers interested in a pure electric vehicle (EV), the technology can present a host of unfamiliar considerations," says Consumer Reports. Because of this, Consumer Reports believes that dealerships can make money by leasing electric vehicles instead of attempting to sell them outright.

Why Make Money by Leasing Instead of Selling Electric Vehicles?

If consumers are looking into electric vehicles, it's safe to say that they're invested in technology. In order to stay up-​to-​date with the latest auto and green technology upgrades, they may be more inclined to sign a multi-​year lease instead of making a purchase that they'll be tempted to replace when the next model is released. Additionally, leases tend to have lower monthly payments, which could also appeal to customers.

On the same page as ever-​progressing technology updates, vehicles will lose their value as they age. The more technological advances that come about, the more obsolete the technology in previous models will become. This means that consumers will still be paying off electric cars that will no longer have the same value after only a few years. Leases prevent this from occurring since they'll only be paying a set amount in payments for a limited number of years. If a better model comes around at the end of the lease, they can switch to a vehicle they feel is better worth their money.

It makes sense that shoppers concerned with technology would be well-​versed in it themselves. According to AudienceSCAN, Electric Vehicle Shoppers own smartphones, Windows computers, tablets, and voice-​activated smart speakers. Best of all, they're susceptible to ads through all of these devices, including mobile, sponsored search results, email, internet banner ads and radio ads, both over-​the-​air and digital.

AudienceSCAN data is available for your applications and dashboards through the SalesFuel API. In addition, AdMall contains industry profiles on auto dealerships, as well as lead lists at the local level. Media companies, sales reps and agencies can access this data with a subscription to AdMall from SalesFuel.