BLOOMFIELD HILLS, MICHIGAN – FEBRUARY 29, 2024 – Vincentric, the leading provider of automotive cost of ownership data in the US and Canada, announced the addition of Total Cost of Leasing (TCLTM) data to its suite of automotive data products. Organizations using Vincentric Data can now provide the ability to compare the cost to own a vehicle against the cost to lease the same vehicle, providing clear guidance on whether leasing or buying is the best financial choice.
“As new car prices continue to rise, we expect leasing to become more prevalent, especially in the luxury vehicle market,” said David Wurster, Vincentric President. “We want to ensure that our clients can provide accurate, up-to-date insight to help customers determine if leasing makes financial sense for the new vehicle they’re looking to drive. Our TCLTM data can simplify the complexity of leasing, make it easy to compare the cost to own with the cost to lease, and speed up the closing process at the dealership."
Vincentric Total Cost to Lease data includes cost elements such as down payment, monthly payment, fuel costs, insurance, maintenance, registration fees, repairs, and applicable tax credits. Costs can be based on a specific vehicle using the Vehicle Identification Number as input into the API query.
The Vincentric Total Cost to Lease data is available for all new mass-produced light duty vehicles, including electric vehicles, in the US and Canada. As with all Vincentric Data, TCLTM is customizable based on geography, length of lease, lease rate, down payment, annual driving distance, and other factors. The end result is data that is relevant and insightful to users, which allows consumers to have an easier decision-making process between leasing and buying, and a smoother, faster close at dealerships no matter which option they choose.
ABOUT VINCENTRIC
Vincentric provides data, knowledge, and insight to the automotive industry by identifying and applying the many aspects of automotive value. Vincentric, LLC is a privately held automotive data research organization headquartered in Bloomfield Hills, Michigan.
Each month the organization measures cost of ownership, including depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs, for over 75,000 vehicle configurations for vehicles from 2008-2024 model years in the US and 2010-2024 model years in Canada. Vincentric data is published on major websites and used by a wide variety of organizations, including Autoblog, Automotive Fleet Magazine, AAA, and many others. Vincentric data is available to its client base through a variety of APIs (Application Program Interfaces), including the New Vehicle API, Used Vehicle API, Fleet Vehicle API, and EV API, and Total Cost to Lease API.