Woman Pay More For Cars - Fact or Myth?
We all know the stereotype. Women get bamboozled at car dealerships. It is easy to fall back on individual stories, but what does the data say? According to Swapalease, a leader in lease transfers, the myth is busted. Women get a better deal on leases in many cases. Interestingly, the brand and model seems to matter a bit. However, overall, Scot Hall, Executive Vice President of Operations at Swapalease.com summed up the picture, saying, “When it comes to cars and price negotiation, most people probably think that men have the upper hand and ability to drive a lower price. However, according to data pulled from the Swapalease.com marketplace, women are actually getting the better deal on many of today’s popular vehicles, lessening the gender gap in shopping for cars.”
The single most popular car is the Toyota Camry. Camry S and LE trims make up the bulk of the Camry leases and in this very popular model men are paying a whopping 17% more for their monthly lease payment than are women according to Swapalease. Even in SUVs and crossovers like the Ford Explorer and Equinox men are paying more, but the difference is less, just 3%. These numbers are based on what those who leased paid when they did the deal with the new car dealership.
Swapalease is in the business of getting people out of leases early and also helping those looking for a short-term lease deal. When a person with a lease offers up their existing leased car on Swapalease, they can offer an incentive to sweeten the deal and entice a new lessee. Here, Swapalease says men are throwing even more money on the table. Men offer an average of $446 in incentives and women just $137 dollars. By all appearances, women are the more savvy car negotiators at both the start and end of a lease.