Nissan To Supply Low Mileage Pay-As-You-Go Leases

Nissan is rolling out a brand new lease choice for consumers of sure fashions. Automotive Information experiences that Nissan’s finance arm, NMAC (Nissan Motor Acceptance Company) has launched a brand new low-mileage lease program that prospects can add extra miles to in the event that they want.

Known as SignatureFLEX, the leases begin at 5,000 miles per yr and go from there. Lessees can add on miles as wanted all through the lifetime of the lease. The one draw back is that SignatureFLEX isn’t obtainable on each mannequin proper now. At the beginning, it’ll solely be obtainable on Rogue and Pathfinder. Nissan says it expects extra fashions to be obtainable with this lease program subsequent yr.

It’s an attention-grabbing transfer by any auto finance firm, but it surely is sensible. NMAC vice chairman of gross sales and advertising and marketing Jim DeTrude advised Automotive Information that the introduction of SignatureFLEX was in response to business traits the corporate had been noticing.

…buyer knowledge present a need for lower-mileage leases. In response, Nissan final yr launched a ten,000-mile-per-year lease that turned the most well-liked choice for its new-car contracts. That was a change from 2020 when 67 p.c of new-car leases have been 12,000 miles per yr.

So prospects have been wanting decrease mileage lease choices. This is sensible, because the transfer in direction of working from dwelling has enabled a number of individuals to drive much less and lower your expenses. Nissan Motor Finance is at present helping in seller coaching in order that sellers may also help perceive if these SignatureFLEX leases work for them.

“I’d moderately the time period align with their driving habits and never the place they’re truly incurring further expense versus drafting the lease initially at a ten,000- or 12,000-mile time period that higher matches their wants,” DeTrude advised Automotive Information.