Leasing makes monthly payments on higher-end models more affordable
Leasing premium automobiles is proving to be popular option among a new generation of car owners.
According to a recent report, consumers between the age of 18 and 34 -- known as Millennials -- are more likely to lease cars than Gen Xers or Baby Boomers. That said, all three demographic segments are showing a renewed interest in leasing as an option when purchasing a new vehicle.
Millennials turned to leasing for almost 30 per cent of all new car purchases in 2015. That compares to about 27 per cent for the entire U.S. population.
Millennials are also leasing more than ever, up almost 46 per cent over the past five years. Across all generations, about 42 per cent more cars are being leased in 2015 compared to 2010.
The report is based on analysis by Edmunds, a leading automotive information company.
"Most Millennials understand and accept that they're on a tight budget and that they need to stick to it," Jessica Caldwell, Edmunds.com director of industry analysis, announced earlier this summer. "But it doesn't mean that their financial constraints limit them only to the most basic vehicles to get from Point A to Point B. If they see a chance to get into a nicer car while staying within their budget, they're likely to explore that opportunity. In most cases, leasing opens the door to the bells and whistles that they couldn't otherwise afford."
Leasing is typically a more affordable way for people to be able to drive more luxurious vehicles and is often preferred by people who don’t want to be financially committed to the same car for the long-term.
After reviewing car registration data, Edmunds’ analysts found that 28.9 per cent of all new cars were purchased by Millennials through leasing.
Crunching the numbers even more, Edmunds showed that youthful shoppers have a ceiling on how much of their monthly budget they’re willing to spend on their automobile. A survey conducted by Edmunds and the research firm Morpace found that 57 per cent of Millennials will only pay $2,999 for a down payment on a new car while 54.9 per cent will only pay $299 per month on a purchase.
Shopping for a car with those constraints essentially limits the choice to new models that are less than $20,000. However, by leasing, budget-conscious consumers can stretch the same $2,999 down payment and monthly $299 payments to afford premium automobiles priced as high as $35,000.
Excellent customer service. No pressure and very positive atmosphere. Vehicle (2012 BMW X5 xDrive35d)was delivered in outstanding condition - much better than I expected.
Dodge Viper SRT 10 same model as one featured in films and television shows
Some cars are more than just automobiles. And while most premium, quality vehicles can turn heads and make your morning commute a dream, not many have the movie star appeal of the Dodge Viper SRT-10.
The super car is currently one of the near-perfect condition used cars for sale at Victoria Premium Auto in Victoria, B.C.
The Dodge Viper SRT 10 has been the subject of much admiration since its production year, and was featured in episode 4 of the 2010 series Battle of the Supercars.
Viewers of the U.S. spinoff of the popular Top Gear TV show will recognize the Viper from an appearance in episode 1.01 of Top Gear USA.
On the big screen, the SRT 10 was featured in one of the best stunts in the movie Wanted, in which superstar actress Angelina Jolie rides the hood of a Viper during a high-speed shoot out.
The film is about a young man who learns his long lost father was an elite assassin for an ancient organization – a storyline we might expect from Hollywood! And while the movie didn’t win any awards for its plotline, it was visually stunning thanks to the inclusion of the impeccable Jolie and the Viper SRT 10.
Another famous film that starred the Viper SRT 10 is Furious 7, the seventh sequel to the iconic Fast and Furious franchise. This film is best remembered as being in production when the series star, Paul Walker, died in an accident away from the set. Walker’s family and friends finished the movie as a loving tribute to the star and the film went on to gross $1 billion faster than any other movie in history to that point.
The Viper SRT has added its sex appeal to numerous music videos, including Always Strapped by Birdman, and added a sense of luxury to films ranging from The Interview to Alvin and the Chipmunks.
The exotic car isn’t for everyone but for true fans of premium automobiles there’s plenty to love about the Dodge Viper SRT 10.
Check out VictoriaPremiumAuto.com for more information on this luxury automobile and for all premium auto sales in Victoria.
Premium auto owners embrace luxury extras
You’ve worked hard and earned the right to a new set of wheels, a premium quality vehicle that makes driving a pleasure. Your new car treats you right, and you’re going to want to spoil it right back. Here’s a look at four accessories that will make owning a luxury vehicle even more of a pleasure.
Perhaps the top accessory for your premium auto is the right kind of protective cover. Let’s face it, there are times when you’ll need to keep your baby parked outside the garage. Having a quality cloth cover can protect your vehicle from the elements while also keeping your investment out of sight and out of mind of potential criminals. A cover is especially vital if you live in a cold climate, which means pretty much anywhere in Canada other than the southern West Coast. But even those of us lucky enough to live in Victoria or Vancouver have to deal with unexpected hailstorms, relentless rain or fierce winds.
Heated leather seats
This is becoming a standard feature on many modern vehicles and is among the most popular aftermarket additions available. On cool winter mornings or after a long day at the office, the experience of slipping into a heated seat helps take the chill out of your commute.
Whether you’re an audiophile or someone who appreciates quality in all things, a precision sound system can be a euphoric experience when you’re on the road. These days, the expectation is that high-end sound systems come standard with high-end vehicles but there’s always a way to boost your system with a new amp or speakers.
Of course, the most important thing in your automobile is you. Did you know that many premium vehicle makers also have clothing lines? From fine driving gloves and a luxurious leather coat to an elegant watch and sunglasses, there’s nothing wrong with looking as good you feel behind the wheel?
Odds and ends
Sometimes it’s the little things that add up to make a big difference in your driving experience. If you can imagine an accessory, chances are it’s available on the Internet.
For your exceptional care and service. You went above and beyond to ensure we were satisfied and taken care of . very much appreciated. (I bought the Mazda 3 2010)
June's hot weather and strengthening consumer demand has meant a rush on drop-top vehicles.
The premium quality convertibles carried by Victoria Premium Automobiles have been selling quickly.
Victoria's CHEK News stopped by Victoria Premium Automobiles and spoke with manager and partner Ed Pierik about supply, demand and a potential shortage of premium quality convertibles as buyers south of the border look north.
Victoria Premium Automobiles was home – for a short period time – to a 2014 Bentley Mulsanne. Ranked among the top five ultimate luxury sedans by Car and Driver, the Mulsanne is a leather, wood, steel and rare earth garlanded showpiece for the wealthy motorist.
It is also very powerful and very fast.
The Mulsanne has a 6.75-liter twin-turbocharged V-8 engine lies beneath its big bonnet. Rated at 505 horsepower and an extraordinary 752 pound-feet of torque.
However, while the power and performance is extraordinary, it is the style, comfort and prestige that keeps the Bentley enthusiasts coming back.
According to the manufacturer, 170 hours of hand-crafted construction goes into each Mulsanne's interior. This includes hand stitching the leather-covered steering wheel, fitting and finishing the exotic wood that wraps the cabin, cutting and stitching the leather upholstery and pure wool mats and carpeting.
Here are a couple of images of this fantastic example of automotive art and workmanship in front of Victoria’s Empress Hotel.
A beautiful 2010 Lamborghini Gallardo made a pit-stop on Vancouver Island at Victoria Premium Automobiles in early June 2015. Sold and awaiting delivery to its new owner, the limited-edition LP550-2 Valentino Balboni is rear-wheel drive, powered by a 5.2-liter V-10 making 542 horsepower.
The Gallardo has since been replaced by the Huracán, but it is still a vehicle to behold. Only 250 special Gallardos were built by Lamborghini and the entire production was quickly sold out.
So, how does it sound and perform?
Let Car and Driver reviewer and Aaron Robimnson provide some insight:
"It’s more beastly than the slightly aloof slot car it’s based on, being louder and a little squirmy when accelerating and spearing toward an apex. A Balboni is definitely more intense and, with the gated six-speed manual to manhandle, more fun than the regular Gallardo," opines Robinson in August 2010. "Wallop the throttle, and the V-10 sounds like it’s shredding platinum Visa cards as the car pitches into a sensational YouTube-Clip-of-the-Week drift. But show anything less than Valentino’s own fearlessness on the gas, and the Balboni straightens right up, hunkers down, and—at the limit—plows."
Car sales remained solid in Canada in March as Canadians enter the traditionally strong spring retail season.
According to domestic automakers, March was another month of record sales performance. This is the second year-over-year increase.
Sales rose 2 per cent to 160,274 from 157,228 in the first month of the crucial spring selling season, according to numbers released by the auto makers. The U.S. market reported a slight decline in March.
However, it is interesting to note that Canadian sales rose overall despite declines by four of the top six companies in the sales rankings. Only FCA Canada Inc. (formerly Chrysler Canada Inc.) and Hyundai Auto Canada Corp. reported sales last month that were above year-earlier levels. Ford Motor Co. of Canada Ltd., General Motors of Canada Ltd., Honda Canada Inc. and Toyota Canada Inc. all reported sales declines.
Volkswagen Canada Inc. was the fastest-growing brand in the country in March, posting a 73-per-cent gain that was a record March and the second-best month in its history. Sales increased 46 per cent for Porsche Cars Canada Ltd. FCA Canada said its sales rose 2 per cent in March and puts the company in the lead ahead of Ford in the year-to-date sales rankings.