Top Benefits of Car Leasing

For new car buyers financing their purchase is a big concern. Thoughts like ‘is leasing a better choice than cash payments’ is a very valid and important consideration. Let’s walk through the top benefits of car leasing and under what considerations it can be the best choice for buyers.

To begin with, leasing is not only a dollars and cent question, it is also a matter of personal taste, lifestyle and priorities. For example, if you want to drive and experience the pleasure of luxury driving but the car you want exceeds your budget, then leasing may be the best way to finance your car.

It is important to understand that leasing is typically a 3 year agreement. At the end of the term the owner must return the vehicle for a trade in or purchase the car outright. Terminating the contract before 36 months will lead to excess charges. Leasing brings with it a mileage limitation between 10,000 and 15,000 miles a year. If the owner surpasses the agreed on mileage, again, penalties will be added on when the lease is over.

Here are the benefits that you can enjoy through this mode of car financing.

Get More Car for Less Money

Unlike car loans that are based on the full price of the car, a lease is based only on he percentage of the car’s price. In other words, when you purchase a $32,500 car with a traditional loan, the full purchase price will be financed. However, through a lease you pay pay the difference between the car’s price and its residual value (the car’s worth at the end of the lease). Let’s assume your car’s residual value is 55% after three years. This means that the $32,500 car would be worth $17,875 at the end of the car lease. So, you have to make lease payments on the remaining amount, or, $14,625.

No Down Payment

Most of the lease agreements feature a no down payment option saving you hundreds of dollars. This makes new car purchase much more affordable and stress-free. What’s required at the time of lease is the registration fee and the first month’s lease payment.

Lower Taxes

Contrasting from a regular purchase, there is no sales tax* paid on the value of the leased car. However, in most states, do expect to pay both state and local sales tax when leasing.

*In some states including Minnesota, Ohio, Illinois, Texas and New York, individuals who lease are required to pay the entire sale tax up front. This payment is based either on the total sum of all lease payments or it is calculated on the car’s full sales price.

It is important to know that buyers who lease are mandated by law to carry both comprehensive and collision coverage to their car insurance policy.

Women’s Wednesday #25: Boost Women’s Confidence to Boost Your Sales

The Good News? Women account for 50% of car purchases, and influence more than 80% of the deals.

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There are always two sides to everything, right? To keep our car reviews innovative and well-rounded, we are providing you with not just one, but two points of view on the same exact vehicle – Her + His perspectives.

The Downside? One in three women report feeling apprehensive or overwhelmed when they shop and buy a car. Only 38% of women feel confident about the process.

Women have different buying criteria and behaviors than men. Women rank trust and respect at the top of their list when it comes to choosing a sales advisor and are 50% more likely to read dealer reviews. They prefer to read reviews written by her peers.

Did You Know?

1.25 million women will buy a car in the next 3 months. Taking the time to incorporate programs to boost the confidence of prospects means your store becomes a trusted destination at the top of her list. The benefits don’t end when she buys her car, rather, she will own her car for 5-8 years and share her happy experience with family + friends.

Reading dealer reviews, bringing someone with her to the dealership — these actions show women are seeking ways to be confident about their purchase. Here are tips to boost women’s confidence and impact your sales revenue:

1. Convey trust and respect. At the core of building trust and respect is the ability to listen and respond to what a woman is saying. Listen, don’t lead, and pursue a goal of truly understanding. After all, she is in your store and she is there for a reason, even if she isn’t purchasing today.

2. Support the decision making process. When it's time to buy, just 1 in 10 women know exactly which one they want. What this means is she has a list of needs and desires in a car, and wants to find the best fit for that list. This isn’t indecision, it is a smart and more open way to shop. A savvy sales advisor will create a “decision tree” that helps reduce the list of cars to the best choice. Following a logical decision-making process will help a woman feel she bought the right car.

3. Create a powerful evidence-driven reputation digital-to-showroom story. Encouraged happy female clients. Why? Their scores rate higher than men, and they acknowledge their dealership and sales person with rave posts. Use your reviews and reputation in your advertising so this buying segment puts you at the top of the list.

What’s in it for Your Dealership?
A confident, delighted buyer who has written a positive review of her experience can influence countless others to follow her lead. When that buyer decides to purchase or lease again, the loyalty created during her engagement with your dealership will bring her back.

2015 Top Shopping Brands Rated by Women | How Does Your Brand Rank?

The average woman visits 30% more stores than men when car buying. Dealers that have a high WSI “shopping” score convert on average 15% more browsers to buyers. Women perceive these stores as more trustworthy and comfortable places to do business with and go there first. That is ROI. Watch this video to learn more.

Top 2015 Car Brands as Rated by Women
Women rely on car dealer reviews 50% more than men. They also prefer to read reviews from other women. That is why our business focuses on reviews exclusively from this powerful buying sector. Likewise, we are the only company in the reputation space that captures reviews on the shopping, i.e. the browsing experience.

Read the Latest Her + His Car Review
Share With Your Social Communities

There are always two sides to everything, right? To keep our car reviews innovative and well-rounded, we are providing you with not just one, but two points of view on the same exact vehicle – Her + His perspectives.

Our 2015 US Women’s Car Dealership Report, compiled from 3,450 women’s car dealer ratings and reviews, showcases the top “shopping” car brands as rated by women; the overall WSI score for all brands was 4.37. Each brand’s WSI®, or Women Satisfaction Index, is derived by taking the aggregate of all the dealer’s scores from that brand’s reviews on the site ranging from a 5.0 (highest) to 1.0 (lowest).

US Women’s Car Dealer Report: How to Get Yours
Get customized WSI® data and actionable research to improve the customer experience helps shape advertising and increase sales to women at your dealership. These trends and predictive patterns help take the guesswork out of marketing to women with the rich, WSI Dealer research provided from your very own reviewers. Would it surprise you to learn that over 90% of women that write a review will voluntarily complete a 25-question survey about their shopping experience with you… with ABSOLUTELY NO INCENTIVE AT ALL?

Click Here For Your FREE Copy Of The 2015 US Women’s Car Dealership Report

Shopping Scores of the Top 15 Brands:

The overall WSI score for all brands was 4.37. Keep in mind these reviews are from a controlled environment. Meaning our company works with about 400 dealers, not 17,000. These dealers use our platform to understand women’s unmet and unrecognized needs. By evaluating the data, dealers measure women’s satisfaction in key areas to create and maintain high scores. The difference these high scores make significantly impact perception, reputation, walk in’s and conversions.

Here is the list by brand.

1. Volkswagen scored 4.75
2. Ford, scored 4.74
3. Chevrolet, scored 4.66
4. Jeep, scored 4.63
5. Buick, scored4.61
6. Hyundai, scored 4.59
7. Audi, scored 4.54
8. Honda, scored 4.53
9. Toyota, scored 4.52
10. Nissan, scored 4.49
11. Subaru, scored 4.46
12. Chrysler, scored 4.40
13. Dodge, scored 4.31
14. Lexus, scored 4.28
15. Mazda, scored 4.26

Women’s Wednesday #24: 2015 Top Shopping Brands Rated by Women | ZMOT Dealer Shopping Report

Top 2015 Car Brands as Rated by Women
Women rely on car dealer reviews 50% more than men. They also prefer to read reviews from other women. That is why our business focuses on reviews exclusively from this powerful buying sector. Likewise, we are the only company in the reputation space that captures reviews on the shopping, i.e. the browsing experience.

Read the Latest Her + His Car Review
Share With Your Social Communities

There are always two sides to everything, right? To keep our car reviews innovative and well-rounded, we are providing you with not just one, but two points of view on the same exact vehicle – Her + His perspectives.

Our 2015 US Women’s Car Dealership Report, compiled from 3,450 women’s car dealer ratings and reviews, showcases the top “shopping” car brands as rated by women; the overall WSI score for all brands was 4.37. Each brand’s WSI®, or Women Satisfaction Index, is derived by taking the aggregate of all the dealer’s scores from that brand’s reviews on the site ranging from a 5.0 (highest) to 1.0 (lowest).

Did You Know?

The average woman visits two dealers, or, 30% more stores than men when car buying. Dealers that have a high WSI “shopping” score convert on average 15% more browsers to buyers. Simply put, women perceive these stores as more comfortable places to do business and go there first. That is ROI.

ZMOT Shopping Report: How to Get Yours
Get customized WSI® data and actionable research to improve the customer experience helps shape advertising and increase sales to women at your dealership. These trends and predictive patterns help take the guesswork out of marketing to women with the rich, WSI Dealer research provided from your very own reviewers. Would it surprise you to learn that over 90% of women that write a review will voluntarily complete a 25-question survey about their shopping experience with you… with ABSOLUTELY NO INCENTIVE AT ALL?

Shopping Scores of the Top 15 Brands:
The overall WSI score for all brands was 4.37. Keep in mind these reviews are from a controlled environment. Meaning our company works with about 400 dealers, not 17,000. These dealers use our platform to understand women’s unmet and unrecognized needs. By evaluating the data, dealers measure women’s satisfaction in key areas to create and maintain high scores. The difference these high scores make significantly impact perception, reputation, walk in’s and conversions.

Here is the list by brand.

1. Volkswagen scored 4.75
2. Ford, scored 4.74
3. Chevrolet, scored 4.66
4. Jeep, scored 4.63
5. Buick, scored4.61
6. Hyundai, scored 4.59
7. Audi, scored 4.54
8. Honda, scored 4.53
9. Toyota, scored 4.52
10. Nissan, scored 4.49
11. Subaru, scored 4.46
12. Chrysler, scored 4.40
13. Dodge, scored 4.31
14. Lexus, scored 4.28
15. Mazda, scored 4.26

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Click Here For Your FREE Copy Of The 2015 US Women’s Car Dealership Report

Women’s Wednesday #23: Top Car Brands as Rated by Women when Buying

It’s Officially the Women Buyers Era…

OEM’s are increasing their advertising towards this powerful buying segment. Smart dealerships are too. Women bought an estimated 13 million cars at new car dealerships last year; an estimated 35,000 vehicles a day.

Read the Latest Her + His Car Review
Share With Your Social Communities

There are always two sides to everything, right? To keep our car reviews innovative and well-rounded, we are providing you with not just one, but two points of view on the same exact vehicle – Her + His perspectives.

How many female “up’s” are converting to buyers at your store? If you aren’t tracking that number yet, we suggest you start accounting for sales by gender. The upside of your gross profit potential is tied to this.

The 2015 US Women’s Car Dealership Report, compiled after 3,450 women’s car dealer ratings and reviews, showcases the top car brands as rated by women when purchasing. Each brand’s WSI® or Women Satisfaction Index is derived by taking the aggregate of all the dealer’s scores from that brand’s reviews on the site ranging from a 5.0 (highest) to 1.0 (lowest).

Keep in mind these reviews are from a controlled environment. Meaning our company works with about 400 dealers, not 17,000. These dealers use our platform to understand women’s unmet and unrecognized needs. By evaluating the data, dealers measure women’s satisfaction in key areas to create and maintain high scores. The difference these high scores make significantly impact perception, reputation, walk in’s and conversions.

The average WSI® for purchasing was 4.73, up from up from 4.65 last year. The top ten rated brands are Mercedes-Benz (also held the #1 spot in 2014), Lincoln, Dodge, Jeep, Chrysler, Volkswagen, Lexus, Chevrolet, Ford and Volvo. They were followed by Audi, Toyota, Hyundai, Subaru, and Nissan brands.

Did You Know?

One in 3 women buyers describes being “apprehensive”, “nervous” or “overwhelmed” at a dealership when buying. Another 13.4% say they feel “intimidated” or “frustrated”. In this hyper-competitive market, what is your dealership doing to combat this? Do you offer a hassle-free, seamless experience?

You’ve heard it before: women have a different set of needs and expectations when buying a car. Yet, it’s a pretty straightforward equation. Car manufactures and dealerships that focus on treating women well by engaging and respecting them in a trustworthy manner throughout the purchase process are positioning themselves exceptionally to capture future business. It is not the luck of the draw; these businesses have processes and training in place to optimize the customer visit. More importantly, the execution of that training is being fulfilled.

Certified Dealers Rate Higher
While the overall WSI® score was 4.73, there is a distinct difference in the dealerships’ reviews and scores.

  • Certified Women-Drivers Friendly® Dealers have a 4.85 WSI® or 97.0%
  • Non-Certified Dealers have a 4.48 WSI® or 89.6%

There is a tremendous upside for dealers to become Certified and distinguish their business to women+families. These numbers indicate a correlation between Certification, higher CSI and increased sales and profits.

HOW DO I BECOME A CERTIFIED DEALER?

Click here to find out!

Click Here For Your FREE Copy Of The 2015 US Women’s Car Dealership Report

Good Selling!

Women’s Wednesday #22: 2015 US Womens Car Dealership Report | Top Brands Rated by Women

Women-Drivers.com, the premier car dealer review company focusing on women+ families, highlights in it’s second annual report that women are having empowering experiences at progressive car dealerships in the United States.

Read the Latest Her + His Car Review
Share With Your Community

There are always two sides to everything, right? To keep our car reviews innovative and well-rounded, we are providing you with not just one, but two points of view on the same exact vehicle – Her + His perspectives.

Women are responsible for buying over 13 million cars at new car dealerships; that’s an impressive 36,000 vehicles a day. Dealerships have to literally change gears, advertising, amenities and their sales strategies to attract this powerful buying force. “It’s a very competitive industry” shares Women-Drivers.com President, Anne Fleming. “Women know they can buy a car anywhere in their respective city. It’s in dealer’s best interest to strategize and market to women. However, it takes more than just having a family female spokesperson.”

The research in the 2015 US Women’s Car Dealership Report comes from over 3,450 women’s surveys from the company’s website. From these surveys, the company generates a Women Satisfaction Index® or WSI score. The range is from a 5.0 (the highest) to 1.0 (the lowest).

Unlike other 5-star review sites, Women-Drivers.com offers women the opportunity to write a quick review and then opt-in to a ‘deeper dive’ survey to share more thoroughly about their dealership visit. Over 90% of the reviewers opt-in to the twenty-five question survey.

Fleming goes on to share, “In the past, women haven’t been asked for any real feedback by the industry, with the exception of the dutiful CSI. Through our platform, women are empowered by the opportunity to share their voice and provide productive opinions. Generally, these buyers are having more than “satisfied” visits at car dealerships; they are truly delighted by the respectful and trustworthy manners of their sales advisors. In turn, when asked to write a review, they are generous.”

Dealership groups and manufacturers use the data collected by the company to better understand, improve and shape the customer’s experience. From the analytics, trends and predictive patterns are captured to help take the guesswork out of marketing to women.

2015 US Womens Car Dealership Report Key Findings

  • When shopping for a vehicle, the overall WSI was 4.37, up from 4.25 last year. The top five rated shopping brands by women are Volkswagen, Ford, Chevrolet, Jeep, and Buick.
  • When purchasing a vehicle, the overall WSI was 4.73, up from 4.65 last year. The top five rated purchasing brands by women are Mercedes-Benz (also held the #1 spot in 2014), Lincoln, Dodge, Jeep and Chrysler.
  • When leasing (a subset of purchasing), the overall WSI was 4.88, a jump from 4.80 in 2014. An amazing 98% of women would recommend their sales advisor when leasing a car.
  • When servicing a vehicle, the overall WSI was 4.57 a considerable leap from last years’ 4.38. The top five rated servicing brands by women are BMW, Volvo, Mercedes-Benz, Porsche and Audi.
  • Women visit on average 2 dealerships prior to buying a car. Sixty percent of women who leave without purchasing, do not return to that dealership.
  • When shopping, 56% of women go to the dealerships by themselves. 83% of them would recommend their sales advisor.
    • Almost one-third report that the dealerships website is not helpful
  • When buying, 46% of women go the dealership by themselves. 95% of them would recommend their sales advisor.
    • Women report the average time to buy a car is 3 hours and 20 min
  • Top reasons women don’t go to service department at original dealership:
    1. Not satisfied with last visit
    2. Didn’t like how she was treated
    3. Inability to get issue resolved to her satisfaction
    4. Cost of service
    5. Location not convenient
    6. Hours not convenient
    7. Lack of concierge services
  • The top requested item by women who have to leave their car overnight for service? A car to drive home – typically a service reserved for luxury brands.

NOTE: The data generated in the 2015 US Women’s Car Dealership Report comes from over 3,450 surveys from the company’s websites. From these surveys, the company generates Women’s Satisfaction Index or WSI® Data. Some brands are not represented in this report due to small sample size.

Click Here For Your FREE Copy Of The 2015 US Women’s Car Dealership Report

Good Selling!