Leasing a Car in Summer 2022

Сar Market in 2022

The year 2021 will be remembered by both automakers and customers for a variety of reasons, including a lack of crucial semiconductor chips, the closure of significant assembly lines, a sharp increase in car costs, and vacant showrooms. 

But what awaits us this year?

The 2022’s dominant automobile market trends are:

  • Continuation of production shortage.

Automobile manufacturers cut back on both manufacturing and spare component orders during the Covid-19 crisis. However, as sales started to increase again, they discovered that they couldn’t secure all the necessary chips, which resulted in significant production cuts.

  • Increase in car prices.

Automakers worldwide produced around 8 million fewer automobiles than anticipated last year owing to a shortage of products in general. According to industry statistics, a typical new automobile cost $45,000 by the end of 2021, which is roughly $8,000 more than it did in December 2020.

  • Problem with stock cars due to logistics.

For the past 21 months, the auto industry has struggled with a computer chip deficit that has led to the closure of factories, delayed auto shipments, and increased car prices. However, makers must also cope with additional problems. A number of logistical problems, including a shortage of ships, shipping containers, and truck drivers, are preventing manufacturers from receiving a variety of parts and raw materials.

  • Rise in gasoline prices.

As reported by American Automobile Association (AAA) the cost of gasoline in the United States rose by 62 percent over the past 12 months, reaching a record-high $ 5 a gallon. As the summer holiday season approaches, Americans, many of whom prefer large cars that consume a lot of gasoline, can expect further increases in energy prices.

In the summer of 2022, these tendencies are more relevant than ever before. Summertime is often the period when promotions spike, especially low APR financing on automobiles from the previous model year. And that’s when the time for “getting a car on lease” comes.

The Advantage of Buying a Car on a Lease

Let us remind you why compared to purchasing and financing a new car altogether, leasing in the summer of 2022 is a more cost-effective choice for many individuals. The advantages of leasing a car speak for themselves.

  • All terms are set forth at the moment of contract signing and are maintained throughout the duration of the agreement.
  • Lessees who lease are subject to fewer restrictions than borrowers who apply for loans.
  • Due to the large range of new models that are usually offered by car dealers, you may drive a high-performance car without having to pay the outrageous price you would anticipate.
  • The initial short time period for considering the lease application
  • By entering into a leasing arrangement, you are freed from any need to prepare any paperwork for the vehicle as the lessor becomes responsible for doing this.
  • Since the car may be delivered and utilized right away when the paperwork is finished, it is practical and advantageous for customers.
  • The monthly car payment covers not only the cost of operating the vehicle and the lender’s interest but also other compulsory payments like auto insurance.
  • The maintenance fees are also included in the monthly installments.
  • A simple resolution of any organizational issues relating to the leasing procedure by highly qualified personnel

If you can’t afford to buy a car on your own, don’t put it off since leasing an automobile will be the same.

Leasing a Car in Summer 2022

You should keep a few things in mind if you’re looking for a new automobile and attempting to decide when it would be an ideal time for car leasing in the USA to get one. Summertime is usually an interesting and special period for that and car leasing in 2022 is no exception.

The reason for the prevalent advantages of leasing a car in the summer of 2022 is that around this time automakers go through major model changes, while you’ll be able to get a reasonable leasing bargain. To get rid of “leftover” automobiles, car dealers provide their clients with really good sales incentives and rebates. August is a particularly favorable month for this because of its consistently new releases and strong sales.

To know more about car leasing in the summer of 2022, watch an exclusive interview with Grand Prix Motors car leasing company CEO Lenny Komsky, who has over 20 years of experience in the car industry – 

We may infer two things about the summer of 2022 based on the aforementioned issues:

  • Because of issues with car stocks in the summer due to problems with logistics and chip shortage we offer to arrange car leasing properly. If a person plans to take out a lease this summer and their current lease is coming to an end, they need to start looking for a new lease and consult a car leasing company 8–10 weeks in advance before the end of the current lease, so that they have enough time to get a car.
  • Electric vehicles will be the “star” of summer 2022 in the automotive industry!
    In the next paragraph, we will describe it in more detail.

Analysts say 33% of global car sales could be electric by 2028. EV sales could reach 33 percent globally by 2028 and 54 percent by 2035 according to global consultant AlixPartners. Source

The concept of getting an electric car on lease should reduce the harmful effects of transport emissions on the atmosphere. But that’s not all the pros.

  • Cost reduction.

An automobile with an electric battery enables fuel savings. Correspondingly, one of the major expenses in automobile maintenance is fuel.

  • Ease of maintenance.

There aren’t any oils or other potentially “problematic” components that require routine replacement, cleaning, or inspection.

  • Noise reduction.

Electric motors have smooth and silent acceleration.

  • Security.

Most electric vehicles come with the most cutting-edge technology. Additionally, the sensors simply disconnect the battery in the event of a collision. Thus, serious injuries are prevented.

  • Variety.

More new models debut each year as their popularity rises. For example:

BMW I3 reached the market as the first widely used electric vehicle. It’s a large, stylish electric vehicle that is simple to park.

AUDI Q4 E-TRON is constructed on the renowned MEB EV platform. You won’t have to be concerned about running out of energy thanks to the robust, long-lasting 82kWh battery.

MERCEDES S550E PLUG-IN HYBRID is powered by an 8.7 kWh lithium-ion battery that is mounted to the floor of the trunk. It is the company’s finest accomplishment in the automobile sector that provides the most cutting-edge options for comfort and safety.

Thus, the EV car lease is something you might consider in the summer of 2022.

Moreover, the US government has started an initiative to support electric vehicles, which means consumers can benefit from tax credits and other breaks. According to the official U.S. government source for fuel economy information all-electric and plug-in hybrid cars purchased new in or after 2010 may be eligible for a federal income tax credit of up to $7,500. The credit amount will vary based on the capacity of the battery used to power the vehicle. While in New York state the Drive Clean Rebate of up to $2,000 for new car purchases or leases is available.

You wouldn’t want to pass up this chance to choose and get your dream car on a lease, especially in combination with the Federal Tax Credit of up to $7,500! You can calculate your deal to get an approximate estimation. Contact us now to get the best EV car lease in the summer of 2022.

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