Sep 26
Canada 1 Detroit 0
Great article out today in the Globe and Mail, by Doug Stiener. He clearly explains that while the big automakers were out “gouging” all Canadians on the price of new vehicles, they failed to make adjustments to their leasing programs. Shortly they are going to get hammered as thousands of leases expire on over-valued used vehicles!
Canadian consumers that leased a car back in 2005 appear to have made an excellent choice.
According to the article 44% of Canadians lease. That means that those that financed or purchased outright still got gouged! Especially if the vehicle that starts to fall apart after 4 years…
We wonder how those new finance deals over 72 months will work out in the future. At one point you might be paying for two cars. The one you purchased financed last month or so, and the one that is four years old,broke down sitting in your driveway with 3 years of payments left.
We think the score should read ordinary Canadians 1 Detroit 3
smart Canadians 10 Detroit 0.
