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Automotive Tourism on the RiseOctober 5, 2010 By: Melanie Gretchen
Prospective car owners may want to look into going outside their area, as LeaseTrader.com discovered "Automotive Tourism," a growing trend in customers purchasing a car online then traveling to pick it up and drive it back.
By retrieving their purchased car themselves, shoppers are relieved of having to shop at a local dealer, as well as of the fee to have the car transported. Among the top ten where this trend is becoming popular, Daytona Beach, Florida; Dallas; and Baltimore, took the top three spots. Following were Nashville; Thousand Oaks, California; Tuscon, Arizona; and Phoenix. Following were St. Paul, Minnesota; Reston, Virginia; and Cleveland.
Among automative tourists, interested renters can opt to take over the remaining portion of vehicles still under contract for a short-term lease with no down payment. In an increase of 15 percent, LeaseTrader.com has seen people taking over leases outside their own region. Up from 35 percent five years ago, approximately 38 percent of the car leaser's transactions occurred between two people in separate regions, including exchange between New York and California. Of that amount, 54 percent of which traveled to the region where the vehicle was located to drive it back, of which the majority clocked in between four and ten hours of return drive time.
Sergio Stiberman, CEO and founder of LeaseTrader.com, said, "Many customers enjoy a significant cost savings because there’s no down payment and they customize the lease terms by shopping for the right lease anywhere in the country. Even with the cost of a plane ticket they come home with large savings."