Finance Xpress

Every so often, the stock market will take a dive when you least expect it. When we sense danger, the natural tendency is to run the other way, preferably in a herd for survival. As a result, sell-offs often intensify as computer algorithms now join us humans in rushing out of positions.

As I’ve gotten older, despite much larger absolute dollar swings, I’ve become more sanguine in times of stock market volatility.

Here are some things you can do to reduce your fear and not sell or buy at inopportune times. 

During Times Of Stock Market Volatility

1) Review your financial objectives. There is no point saving and investing money if it doesn’t have a purpose. Once you crystallize the reasons why you’re working so hard and taking risk, you’ll be able to make more rational decisions. You’ll also re-motivate yourself to do what’s financially best for you and your family.

Here are some common financial objectives:

* Save enough in after-tax investments to give yourself optionality to do something new.

* Return at least 2X the risk-free rate of return each year.

* Save enough to make your child a 529 plan millionaire so she can graduate an independent woman after college all thanks to you.

* Save enough to cover any long-term care costs for aging parents.

* Max out your 401(k) every year without fail since few get pensions anymore.

Our key objective: Because we tried for so long to have a child and were finally blessed with one in 2017, my key objective is to enable my wife and me to be stay at home parents for the first five or six years of his life before he goes to kindergarten. Once he goes to kindergarten, one or both of us get to stop sacrificing our careers and income to go back to work since he’ll be busy most of the day. Whether we go back to work or not, is a different matter. It’s just nice to have the option to have more adult interaction again. 

2) Determine your risk tolerance to the best of your ability. To determine your risk tolerance, simply ask yourself how much you’re willing to lose in your investments before needing to sell. If you never plan to sell because you know stocks and bonds have generally gone up and to the right for decades, perhaps you have a high risk tolerance. If you plan to take profits if the stock market is down 20% or more, perhaps you have a medium risk tolerance. If you’re freaked out by a 10% correction, then perhaps your risk tolerance is very low.

Just know that whatever you think your risk tolerance is, you’re likely overestimating it by at least 10%. When people started losing big money during the 2008-2009 financial crisis, there was mass panic because they were also losing value in their houses, which are usually owned with debt. Meanwhile, when your company is going through its third or fourth round of mass layoffs, the desire to raise cash becomes almost impossible to prevent, especially if you have a family to support.

Our risk tolerance: When we left work at 34 respectively, our risk tolerance was medium-to-high since we only had to provide for ourselves. Further, it took a lot of guts to truncate promising careers so young. But due to our current #1 objective of being stay at home parents for at least five or six years, our risk tolerance is now medium-to-low. We would feel uncomfortable losing more than 20% of our after-tax investments, which cover 100% of our living expenses.

3) Understand the historical returns of different stock and bond portfolio weightings. Knowledge truly is your best friend when it comes to investing. There are no investment guarantees, but we do have historical data we can study to get an idea of how our investment portfolios will perform over time.

Given you’ve gone through your financial objectives and made a best guesstimate on your risk tolerance, you are rationally going to build an investment portfolio that meets your risk profile. Here are the historical returns between 1926 – 2016 according to research from the Vanguard Group.

A 0% weighting in stocks and a 100% weighting in bonds has provided an average annual return of 5.4% since 1926, beating inflation by roughly 3% a year.

A 20% weighting in stocks and an 80% weighting in bonds has provided an average annual return of 6.6%, with the worst year -10.1% and the best year 29.8%.

A 30% allocation to stocks and a 70% weighting in bonds has provided an average annual return of 7.2% a year, with the worst year -14.2% and the best year +28.4%.

A 40% weighting in stocks and a 60% weighting in bonds has provided an average annual return of 7.8%, with the worst year -18.4% and the best year +27.9%.

A 50% weighting in stocks and a 50% weighting in bonds has provided an average annual return of 8.3%, with the worst year -22.3% and the best year +32.3%.

A 60% weighting in stocks and a 40% weighting in bonds has provided an average annual return of 8.7%, with the worst year -26.6% and the best year +36.7%.

A 70% weighting in stocks and a 30% weighting in bonds has provided an average annual return of 9.1%, with the worst year -30.7% and the best year +41.1%.

A 80% weighting in stocks and a 20% weighting in bonds has provided an average annual return of 9.5%, with the worst year -34.9% and the best year +45.4%.

A 100% weighting in stocks and a 0% weighting in bonds has provided an average annual return of 10.2%, with the worst year -40.1% and best year +54.2%. We saw this sell-off happen in 2008-2009 when many investors sold at the absolute bottom.

My public investment portfolio weighting: I’ve gone from a 95% average equities weighting in my 20s, to an 80% average equities weighting in my 30s, to a now 60% average equities weighting in my early 40s. My objective is to earn 2X the risk-free rate of return, or now roughly 6% a year.

Based on historical returns, having a 30% stock / 70% bond weighting for my return objective would be more appropriate. However, given my financial background and passive income, I’m comfortable taking on more risk. After getting an MBA and spending my entire career in finance, it would be strange if I wasn’t comfortable with investing. 

4) Make up for your losses with extra work. Whenever your investments lose money, a humbling way to look at your paper or realized loss is to figure out how many more months of work will be required to make up for your loss. This exercise will not only help you assess your true risk tolerance, but it will also motivate you to build extra income streams.

One of your goals on the road to financial independence is to never experience a decrease in your net worth each year. In the beginning, your income and aggressive savings should be enough to consistently grow your net worth. But once you start amassing a large investment portfolio, there will be a breakpoint where your investments may start generating a significant boost or drag to your net worth. This is one of the reasons why you should dial down risk the wealthier you get.

If your investments are losing money, get offended at your sensibilities. Then get motivated to do some consulting work or take on some gig economy jobs or my favorite, build a side hustle online. Only as a last resort should you be selling and drawing down principal to pay for life.

My hustle: When I started losing big bucks starting in 2008, I decided to finally start Financial Samurai in 2009. I knew it wouldn’t make a lot of money in the beginning, but I had to at least try in order to give me options in the future. If Uber or Lyft had been popular back then, I’m sure I would try and make extra money at night as well. 

5) Always have a comfortable cash hoard equal to 5% – 10% of your investable assets. When the stock market is falling apart, you will feel most helpless if you don’t have a cash cushion. By having a cash hoard, you will not only have a financial cushion, you will also have the firepower to take action during violent sell-offs.

Buying stocks during a downturn is a positive that counteracts the negative of losing money from your investments. Sometimes it feels like shooting a rifle at a fighter jet bombing your village, but at least you’re doing something about the siege. This helps your psyche.

My cash: At any given moment, I’ve always got between 5% – 10% of my investable assets in cash, especially now that money market rates are paying over 2%. As a result, I never feel helpless during a stock market correction anymore. Instead, I feel excited to put some cash which I don’t need to work. 

6) Have a concrete plan of action. Given you always have spare cash to take advantage of opportunity, you should always develop a plan whenever there are significant changes in the market. For example, we know that the S&P 500 moves +/0 ~0.76% a day on average. Therefore, if you are long term bullish, you should consider buying when the S&P 500 sells off 2X, 3X, 4X, or 5X greater than average with increasing amounts of capital.

What I’m doing: My goal is to maintain a roughly 60/40 stock/bonds split. When equities are selling off, my stock weighting naturally declines. Therefore, I will look to re-up my stock weighting whenever there is a 1.5% or greater decline in the S&P 500. Generally, I will deploy capital in three to five tranches over a 5% – 10% decline e.g. $20K when -1.5%, another $30K when -3%, another $40K when – 5%, etc. If the S&P 500 declines by greater than 10%, I will redeploy a set amount of capital for every 1.5% decline over three to five tranches again. Given I don’t plan to buy another property for a while, my goal is to invest 100% of my savings each month to generate passive income. 

7) Extend the investment time horizon. We used to joke on Wall Street that whenever we made a bad investment we’d describe it as, “a long-term investment.” But if you can truly extend your investment timeframe into the decades, you’ll feel better about your paper losses.

The trick I’ve learned which helps me elongate my investment time horizon is to think in the future what my kid or younger relatives will think about asset prices today. Every one of us wishes we had purchased and held stocks and real estate 30 years ago. Therefore, think about what the children in our lives will think about the investment opportunities we have today.

My time horizon: I’m certain stocks and real estate will be higher by the time my kid enters the workforce circa 2039, therefore, I’m comfortably in the buy and hold mode. Whenever there are corrections in the S&P 500 index or in specific stocks I believe are long-term winners, I utilize my cash hoard to buy.

Then I imagine the day when my son graduates from college and ventures into the real world to be his own independent man. If he’s a good person with a kind heart, I will be that loving father who will one day say, “I’m so proud of all the struggles you’ve had to overcome. Let mom and dad help you with anything you need, because surprise! We invested in stocks and real estate when you were a baby, just in case you decided investing back then would have been a great idea.”

Of course if he’s mean and rotten, we’ll donate all the money to charity instead. 

8) Keep busy doing something more pleasurable. It’s counterproductive to overly focus on your tanking investments when you’ve got objectives 1 – 7 down. Instead, go have some sangria with friends and loved ones. Go for a nice free long walk in the park. Exercise. Life is the same whether stocks are going up or down.

My activities: I always feel better after a good game of tennis or softball. The endorphins kick in, the body becomes nice and sore, and my mind feels like it got a nice massage. I also spend more time writing on Financial Samurai because writing is cathartic. It helps me work through logic and emotion to see things more clearly. 

9) Earmark some profits to pay for a better life. Instead of having the market incinerate all your money, you should consider spending your profits on yourself, especially if you’ve hit your financial objectives. Otherwise, there’s really no point saving and investing. You want to consistently crystallize the value of your investments, which is why buying real assets that provide utility like a house feels so good. Alternatively, you can use your profits to buy experiences that tend to appreciate over time as well.

What I’ve spent money on: I’ve used some profits to buy a family car prior to our son’s birth. Sometimes I catch myself at a stop light feeling giddy the car was bought with the returns from my severance check. I also built an awesome deck facing the ocean off our master bathroom with some NASDAQ proceeds. Eventually, when our son turns five, we’ll take some profits to pay for an exciting international family vacation.

Although I could have made more money if I kept the money invested, it feels wonderful to actually see the investments be utilized for a better life. My biggest hope now is that my son’s 529 plan returns enough in the next 17 years to provide him one or two years of free college tuition. 

Stock Market Corrections Will Happen

Accept that part of earning a reward is taking on risk. Over the long run, your risk should pay off if you have the proper asset allocation and time horizon.

The only people who lose are those who are too afraid to take any risk at all. These are the people who hoard most of their net worth in cash. These are also the people who stay at one job forever because they’re too afraid to move.

If you have a clear plan for how you will allocate capital, you will better conquer your fear of investing. If not, you can always just have a robo-advisor automatically invest for you once you’ve established your risk parameters.

If you believe in the bull market, then you should buy the dips. If you believe a bear market is imminent, then you should sell into strength. Given my investment horizon is at least 20 years, I plan on consistently generating enough cash flow to buy as many dips as possible.

Consider Real Estate If You Don’t Like Volatility

One of the main reasons why I prefer real estate over stocks is due to real estate’s less volatile nature. With real estate you have steadier rents and an asset the is tangible that provides utility. Real estate just doesn’t disappear overnight like stocks.

For example, take a look at Fundrise’s 5-year performance versus the S&P 500 and the Vanguard Real Estate ETF. When the S&P 500 took a tumble in 2018, Fundrise’s platform portfolio outperformed by a whopping 14%.

You can sign up for Fundrise for free and explore their offerings. I’ve personally invested $810,000 into real estate crowdfunding to take advantage of lower valuations and higher net rental yields in the heartland of America.

Updated for 2020 and beyond. 

The post What To Do When Stock Market Volatility Returns appeared first on Financial Samurai.

from Financial Samurai


via Finance Xpress

Most of us will make a handful of big purchases throughout the year–whether we plan on it or not. Here’s what you can plan on–cashing in on those situations with one of these cards. Below is our list of best credit cards for big purchases.

Major spending sprees like buying appliances, car parts, or holiday gifts always seem to shock our credit card bills a few times a year. Many times, we’re not prepared for those expenses and the proof is in the rising debt levels.

So the next time you’re going to make a big purchase, make sure you’re using the right credit card. It could make all the difference in the world, or at least put some extra cash back in your pocket.

In this article, I’ll review the best credit cards for big purchases so you can determine which card to get before that next major shopping trip.

Best Credit Cards for Big Purchases: Overall

Credit Card	Best For
Wells Fargo Propel American Express Card	Earnings Rewards
Blue Cash Preferred Card from American Express	Cash-Back Bonus
Wells Fargo Platinum Visa Card	No-Interest Promo
Chase Sapphire Preferred Card	Earning a Travel Bonus
Capital One Secured Mastercard	Poor Credit
Ink Business Unlimited℠ Credit Card	Large Business Purchase

Best for Earnings Rewards: Wells Fargo Propel American Express Card

The Wells Fargo Propel American Express Card is a great card for big purchases if you want to earn some excellent rewards back. You’ll get 30,000 bonus points when you spend $3,000 in purchases in the first 3 months, which ends up being a $300 cash redemption value. If you’re using the card for major purchases, you should be able to tally up $3,000 in no time.

After the big initial bonus, you’ll get 3X points on:

• Eating out and ordering in
• Gas, rideshares, and transit
• Flights, hotels, homestays, and car rentals
• Popular streaming services

For all other purchases, you’ll get 1X points. There aren’t any limits to the points you can earn, and your points will not expire as long as your account remains open.

On top of all of that, you’ll get an introductory 0% APR for 12 months on purchases and balance transfers, and there’s no annual fee.

For travel, there are absolutely no blackout dates on air travel when you use the Go Far® Rewards system to book. What’s also nice is that you can use a combination of points and a payment card. So if your big purchase happens to be a trip, you’re in luck.

Speaking of trips, the card also features no currency conversion fees–so you won’t have to worry about spending in other countries.

You also won’t have to worry about your cell phone getting lost or damaged while traveling, as you’ll get cell phone protection from damage or theft.

Finally, since this is an American Express card, you’ll receive return protection and extended warranties on your big purchase.

Apply here or read our full Wells Fargo Propel American Express® Card Review

Best for a Cash-Back Bonus: Blue Cash Preferred Card from American Express

If you’re looking for a big cashback bonus after you make a large purchase, you’ll want to check out the Blue Cash Preferred Card from American Express. If you spend $1,000 in purchases with your new card in your first three months, you’ll get a $250 cash bonus–in the form of a statement credit. While the return on investment is less than the Wells Fargo Propel American Express Card, the requirements are lower (you only need to spend $1,000 instead of $3,000).

You’ll also get a 0% introductory APR on purchases and balance transfers for 12 months, which will help ease the burden of a large purchase. Although, the card does come with a $95 annual fee, the card is designed to earn serious cash back.

Since we all need to buy food, we love this card for its grocery perks. You’ll earn 6% cash back at all U.S. supermarkets on up to $6,000 per year in purchases. After that, it becomes 1% back. You’ll also get 3% cash back at any U.S. gas station, and 1% cash back on all other purchases. Your cash back comes in the form of Reward Dollars and those can be redeemed as a statement credit.

What I love about this card for big purchases is the sign-up bonus, the 0% intro APR, and the fact that it’s an American Express card. So, like the Wells Fargo card mentioned above, you’ll get return protection and extended warranties on your purchases.

Apply here or read our full Blue Cash Preferred Card from American Express® Review

Best for a No-Interest Promo: Wells Fargo Platinum Visa Card

We absolutely love the Wells Fargo Platinum Visa Card if you’re planning to make a massive purchase and need as much time as possible with a promotional rate to pay it off.

When you open a new card, you’ll get an introductory 0% APR for 18 months on purchases and balance transfers, which is the lowest possible promotional rate right now. That should give you plenty of time to pay off your big purchase in full (that’s a year and a half!).

The card also has no annual fee.

While this card doesn’t come with all the bells and whistles you might find on some of the others, it does have some other nice features. You’ll get access to My Money Map, which includes tools that will help you manage your spending and create a budget easily.

You won’t earn a huge sign-up bonus and you won’t earn rewards with regular purchases, but this card can help you either get your existing finances in order (by way of a balance transfer) or help you manage a big expense by letting you pay it off over time.

Best for Earning a Travel Bonus: Chase Sapphire Preferred Card

If you’re someone who loves to travel, the Chase Sapphire Preferred Card is one of the best cards you can get – period. It comes with an excellent sign on bonus and the rewards are nearly unmatched. Let’s first talk about the sign on bonus.

Currently, Chase will give you 60,000 bonus points after you spend $4,000 in purchases within the first three months after opening an account. If you’re using this card for a major purchase (or several, for that matter), this shouldn’t be too difficult. These 60,000 points equate to $750 toward travel when you redeem them through Chase Ultimate Rewards–where you get a 25% bonus in travel redemptions.

Beyond your initial sign-on bonus, you’ll also earn rewards at an accelerated rate. You’ll earn 2X points on travel and dining at restaurants. This includes things like airfare, hotels, and any type of restaurant (whether a fancy place or a casual burger joint). All other purchases will earn 1X points.

The Chase Sapphire Preferred Card comes with a $95 annual fee. They also have a referral program where you can refer friends to apply for the card. If and when they do, you’ll get 10,000 bonus points per friend, for up to 60,000 bonus points extra during the year.

Apply here or read our full Chase Sapphire Preferred Review

Best if You Have Poor Credit: Capital One Secured Mastercard

If your credit is bad or you’re just building credit for the first time, you’re not completely out when it comes to needing to make a big purchase, but you will be limited.

Your best bet if your credit is anything less than good would be a secured credit card. Secured cards allow you to get a credit card by putting collateral (money) down. So, for example, if you deposited $500, a bank may give you a $500 credit line. This allows you to build your credit and it keeps the bank safe if you default (they’ll just keep your money).

All that being said, we highly recommend the Capital One Secured Mastercard for your big purchase. No, you won’t be making a $10,000 monster purchase like you might be with some of these other cards, but you’ll still be able to get somewhere. If you make the minimum deposit of $49, you’re eligible for a credit line of up to $200. If you make on-time payments for your first five months, you’re eligible for another increase.

The card has no annual fee and is a great way to knock out a major purchase now while also building up your credit.

Best for Making a Large Business Purchase: New! Ink Business Unlimited Credit Card

If you own a small business and need to make a big purchase, such as new office equipment, our favorite card is the New! Ink Business Unlimited Credit Card from Chase. This is one of the best business cards available and rivals many traditional credit cards.

First of all, you’ll get a 0% introductory APR for 12 months upon account opening for both purchases and balance transfers. This gives you a full year to pay off any major purchases without paying a dime of interest.

If you spend $3,000 within the first three months of opening the account, you’ll get $500 bonus cash back, too. This will post as a credit to your account after about 6 to 8 weeks.

There is no annual fee on the account, and you’ll get a flat 1.5% cash back on all purchases, with no limits on how much cash you can earn. For everyday business purchases, as well as larger expenses, this card is a great deal to earn you cash back on expenses you already have.

Bottom Line

Have no fear, big spender! The cards listed above cover nearly every situation you may run into. Remember, though, making a big purchase is a major responsibility. If you take advantage of a 0% offer, have a plan to pay it all back, otherwise, you’ll end up in debt. Now the only question remains–what are you going to buy?

Topics: Credit Cards

The post Best Credit Cards for Big Purchases appeared first on The Dough Roller.

via Finance Xpress

Posted by: John S Kiernan

Labor Day is approaching, and retailers are preparing to offer big deals to attract Americans during the long weekend. One of the biggest sectors to profit from Labor Day sales is the auto industry. According to a nationally representative survey conducted by WalletHub, 77.5 million Americans will look at cars to buy this Labor Day Weekend.

According to the marketing information services company J.D. Power, August is one of the biggest months of the year for auto sales, especially the weekend of Labor Day. Auto sellers stand to make even more money than usual this year considering that the average vehicle price is at a record level. In July, the average new vehicle price was $33,000, up $1,400 from the previous year. Therefore, sellers can entice new buyers with discounts yet still reap great profits. In addition, according to the Kelly Blue Book, Labor Day is among the best times to buy a car because sellers tend to offer “significant rebates and special financing.”

Below are some more highlights from WalletHub’s 2019 Auto Loans Survey, along with additional insight from a panel of experts.

Key Stats

• Financial confidence is up in 2019. More than half of Americans feel more financially secure buying a car this year than last year.
• Politics can affect your car purchases. Liberals' car buying plans are 1.7 times more impacted by the trade war with China than those of conservatives.
• Many consumers have loyalty to American products. Over a third of Americans (84.3 million) would have to save at least $5,000 to purchase a foreign-made car vs a US-made car.

Embed on your website<a href="https://ift.tt/2PjFSfm"> <img src="//d2e70e9yced57e.cloudfront.net/wallethub/posts/65942/2019-labor-day-weekend-car-sales-survey-v4.png" width="" height="" alt="" /> </a> <div style="width:px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2zoC2GH>

Ask the Experts < >

• Abhijit Roy Professor of Marketing, Kania School of Management at the University of Scranton
• Scott D. Swain Ph.D. – Associate Professor, Department of Marketing, College of Business, Clemson University
• Pattarapong Burusnukul Associate Professor of Marketing, College of Business, Eastern New Mexico University
• Edward Lisi Ph.D. – Visiting Assistant Professor at Quinnipiac University, School of Business
• Rebecca J. H. Wang Ph.D. – Assistant Professor of Marketing, Lehigh University
• Blair Entenmann Adjunct Instructor, Ferris State University

More Experts Full Details Overall

Will you look at cars to purchase around Labor Day?
No	69%
Yes	31%
Do you feel more financially secure in buying a car this year than last year?
Yes	54%
No	46%
Are auto loan rates too high?
Yes	60%
No	40%
Which do you worry about affording more?
Auto loan	61%
Auto insurance	39%
What is most important when choosing a car to buy?
Monthly Car Payment	28%
Vehicle Cost	24%
Car make and model	19%
Driving performance	16%
Loan Interest Rate	10%
Car appearance	3%
Are you more likely to buy a car in-person or online?
In-person	93%
Online	7%
How important is it for you to test drive a car before buying it?
Very important	77%
Somewhat important	19%
Not important	4%
What influences you most when purchasing a car?
Car reviews	61%
Recommendations from family/friends	21%
Dealership experience	17%
Commercials	1%
On average, how much research do you do before making a car purchase?
10+ hours	40%
1-5 hours	31%
5-8 hours	23%
None	6%
The last time you got a car loan / lease, did you read the fine print?
Yes	61%
No	39%
Is the automotive industry more of a buyer’s market or a seller’s market right now?
Seller’s market	52%
Buyer’s market	48%
Has the trade war with China impacted your car buying plans?
No	76%
Yes	24%
Would you prefer to purchase an American-made vehicle?
Yes	56%
No	44%
How much would you have to save to purchase a foreign-made vehicle?
$5000+	33%
$3000	18%
$2000	13%
$1000	12%
$0	24%

Note: Percentages may not total 100% due to rounding.

from Wallet HubWallet Hub


via Finance Xpress

Posted by: John S Kiernan

Consumer research and ratings firm J.D. Power has released its January auto sales forecast, and the trends aren’t looking the best for the industry. New-vehicle retail sales are projected to have a 2.4% decrease compared to January 2018. This is the third consecutive year in which retail sales have declined at the beginning of the year. But even though sales are down, individual transaction prices are increasing, which is helping manufacturers to maintain their profits. According to a nationally representative survey conducted by WalletHub, 77.5 million Americans will look at cars to buy this Labor Day Weekend.

At the moment, the market appears to be tilting in favor of the consumer. But there are more questions than just whether or not to buy. Should buyers apply for financing from banks, credit unions or manufacturers? Which manufacturers offer the best financing and leasing terms? How do interest rates compare for new versus used vehicles?

WalletHub answers these questions and more below, based on a detailed analysis of financing offers from a diverse group of more than 150 lenders. The data provided in this report, along with our panel discussion featuring industry experts, will help you make an informed decision. Read on for our findings.

1. Key Findings
2. Who Offers the Best Rates?
3. Rates over Time
4. Excellent vs. Fair Credit Score
5. Manufacturer Transparency
6. Debt Levels over Time
7. Ask the Experts
8. Methodology
9. Historical Data

Key Findings

• Interest rates for new cars are at one of their lowest point in the past three years. However, the average new-car loan now charges 14 percent less interest than the average used-car loan.
• Now is not the time for people with excellent credit to buy used cars. The average interest rate for such buyers has risen nearly 43 percent since Q3 2016.
• Overall, buyers who have fair credit will end up spending about four times more to finance a vehicle than someone with excellent credit, which equates to $6,138 in additional interest payments over the life of a $20,000, five-year loan.
• Consumers in the market for a new car should start their search for financing with car manufacturers (34 percent below average) and credit unions (rates 12 percent below average). Regional banks (14 percent above average) and national banks (14 percent above average) should be secondary options.
• Car manufacturers continue to lack transparency when it comes to leasing offers, with the average one receiving a WalletHub Transparency Score of 4.6 out of 10. The most transparent manufacturers currently include Mini, BMW, Mercedes, Honda, Kia, Toyota, Nissan, Audi and Hyundai, but even they registered only a 6-point rating.
• Toyota, Nissan, Hyundai, Subaru, Dodge and Ford offer the lowest financing rates among the major car manufacturers surveyed by WalletHub. Acura, Infiniti, Subaru, Audi, Chrysler and Cadillac have the best leasing offers.

Who Offers the Best Rates?

      Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/10131/auto-columnchart1.html" width="780" height="450" frameBorder="0" scrolling="no"></iframe> <div style="width:780px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2Hbug5Q>Note: Above data is based on a 36-month term.      

Financing Offers by Car Manufacturer

It is important for consumers to understand that car-dealership financing offers may come from the financing arm of a car manufacturer or from a third-party financial institution. The following offers reflect financing available directly from car manufacturers’ financing arms.

Car Manufacturer	Financing APR Q3 2019	Lease APR (inferred interest rate) Q3 2019
Honda	1.90%	7.57%
Toyota	0.00%	5.64%
Volkswagen	1.90%	6.86%
Chevrolet	4.99%	9.48%
BMW	2.99%	6.21%
Nissan	0.00%	7.74%
Hyundai	0.00%	6.26%
Kia	4.60%	7.44%
Mazda	3.99%	6.93%
Acura	3.24%	2.13%
Audi	6.00%	4.02%
Infiniti	4.24%	2.93%
Subaru	0.00%	3.78%
Lexus	0.90%	5.85%
Dodge	0.00%	6.43%
Mini	4.49%	7.13%
Buick	4.00%	6.03%
Ford	0.00%	7.93%
Chrysler	3.99%	4.63%
Cadillac	3.29%	5.24%
Average	2.53%	6.01%

Note: Above data are based on a 36-month term. The APRs presented for the financing and lease programs of the car manufactures are informational only. The actual obtainable values are based on various factors, including the borrower’s creditworthiness, income, location of residence, promotional programs and even negotiation skills. Make sure to always check upfront with a dealer about the availability of any discounts for particular groups (e.g., military personnel with USAA membership) that you might qualify for and any other costs/restrictions that may be imposed, especially in the case of lease contracts.

Rates over Time

Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/10131/auto-linechart1.html" width="780" height="450" frameBorder="0" scrolling="no"></iframe> <div style="width:780px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2Hbug5Q>Note: Above data is based on a 36-month term.

Excellent vs. Fair Credit Score

    Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/10131/auto-columnchart2.html" width="780" height="450" frameBorder="0" scrolling="no"></iframe> <div style="width:780px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2Hbug5Q>Note: Above data reflects a $20,000 five-year loan for a new car with a fixed interest rate, using WalletHub’s interest-rate data from Q3 2019.

Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/10131/auto-linechart2.html" width="780" height="450" frameBorder="0" scrolling="no"></iframe> <div style="width:780px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2Hbug5Q>

Manufacturer Transparency

Leasing offers are the most difficult type of car-purchasing arrangement for consumers to understand, as they lack the equivalent of an APR that can be used for comparison. As a result, the transparency of manufacturers about these deals is integral to a consumer’s ability to make an informed decision.

Manufacturer	Transp. Score - Q3 2019		Manufacturer	Transp. Score - Q3 2019
Mini	6		Acura	5
BMW	6		Subaru	5
Mercedes	6		Volkswagen	3
Honda	6		Ford	3
Kia	6		Dodge	3
Toyota	6		Lexus	3
Nissan	6		Buick	3
Audi	6		Cadillac	3
Hyundai	6		Chevrolet	3
Mazda	5		Chrysler	3
Infiniti	5		Volvo	2

Debt Levels over Time

Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/10131/auto-linechart5.html" width="780" height="450" frameBorder="0" scrolling="no"></iframe> <div style="width:780px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2Hbug5Q>Source: Federal Reserve Bank of New York

Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/10131/auto-linechart6.html" width="780" height="450" frameBorder="0" scrolling="no"></iframe> <div style="width:780px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2Hbug5Q>Source: Federal Reserve Bank of New York

Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/10131/auto-linechart7.html" width="780" height="450" frameBorder="0" scrolling="no"></iframe> <div style="width:780px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2Hbug5Q>Source: Federal Reserve Bank of St. Louis

Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/10131/auto-linechart8.html" width="780" height="450" frameBorder="0" scrolling="no"></iframe> <div style="width:780px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2Hbug5Q>Source: Federal Reserve Bank of St. Louis

Ask the Experts

If you aren’t carefully monitoring the trends in car sales, you might miss out on a good deal — or buy at the wrong time. For additional insight into the car-buying process and related issues, we asked a panel of experts to weigh in with their thoughts on the following key questions:

1. On a scale of 1 (an emphatic no) to 10 (an emphatic yes), is this a good time of year to buy a car?
2. Do you expect auto financing deals to improve, get worse, or stay the same over the next 12 months?
3. What steps can buyers and dealers take to make the car buying process more transparent and hassle-free?
4. What tips do you have for individuals with fair or poor credit who are looking for an auto loan?
5. What are some signs that you may be getting ripped off in the auto-financing process?

< >

• Kevin Gotts MBA, CFP – Adjunct Instructor, California State University, Fullerton
• Robert A. Uptegraff, Jr. Special Instructor, Oakland University
• JP Krahel Ph.D., Associate Professor of Accounting, Sellinger School of Business and Management, Loyola University Maryland
• Abdul A. Rasheed Ph.D., Eunice and James L. West Distinguished Professor, Department of Management, University of Texas at Arlington
• Stephen Gray Instructor, Western Illinois University
• James R. Hardin Professor, University of South Alabama

More Experts

Methodology

To conduct our analysis, we reviewed auto-financing offers from a sample of 156 lenders, including 27 “Community Banks” (<$1 billion in total deposit volume) and “Small Banks” ($1 billion to $10 billion in total deposit volume), 47 “Regional Banks” ($10 billion to $100 billion in total deposit volume), 10 “National Banks” (those with a national presence), 52 “Credit Unions” and 20 “Car Manufacturers.”

For comparison purposes, we used 36 months as the repayment term for both financing and lease programs.

For bank-originated loans, we applied the following assumptions:

• $20,000 Loan: New Cars
• $10,000 Loan: Used Cars
• 80 Percent Loan-to-Value Ratio
• Excellent Credit Score: 720+

In order to calculate the “Lease APR,” we used the following methodology:

• We calculated the difference between the price of the car at the beginning and end of the lease to represent the amount that someone “borrows” when he or she leases a car.
• We then multiplied the monthly payments with the term of the lease to obtain the total amount paid for that contract.
• Finally, we calculated the difference between the total amount of payments on the lease contract and the amount “borrowed” to represent the total amount of interest, in dollars, that was paid during that period.

We obtained car-manufacturer loan and lease data from manufacturer websites, where available, or contacted the manufacturer directly. We also applied the following assumptions:

• Excellent Credit Score: 720+
• Annual Expected Mileage for the Lease Program: 15,000

For each car manufacturer, we requested APR data from an AutoNews study published quarterly for the most popular model with the most basic equipment options available.

For the price of the car, we used the “Manufacturer’s Suggested Retail Price” (MSRP), minus any applicable dealer discount. Our sample of cars includes the following:

Car Manufacturer	Car Model - Q3 2019	Car Price
	2019 Honda Accord LX	$20,516
	2019 Toyota Camry SE	$27,568
	2019 Volkswagen Jetta 1.4T S	$18,975
	2019 Chevrolet Cruze LS	$20,581
	2019 BMW 330i	$44,410
	2019 Nissan Altima S	$20,608
	2019 Hyundai Elantra SE	$18,312
	2019 Kia Optima LX	$21,542
	2019 Mazda3 Sedan	$21,720
	2019 Acura ILX	$27,990
	2019 Audi A4 2.0T Premium Sedan	$39,090
	2019 Infiniti Q50	$43,350
	2019 Subaru Outback 2.5i	$25,900
	2019 Lexus ES 350	$43,392
	2019 Dodge Charger SXT	$28,000
	2019 Mini Cooper Hardtop	$24,160
	2019 Buick Lacrosse	$39,280
	2019 Ford Fusion SE FWD	$22,068
	2019 Chrysler 300 Touring	$32,010
	2019 Cadillac CTS Sedan	$48,345

 Car Manufacturer & Dealer TransparencyHow easy is the process of obtaining complete financing and lease information from car manufacturers and dealers? – Worth 10 Points Total

1. When lease information is provided on the manufacturer/dealer’s website, how complete is the info? – Worth 5 Points Total
   • Monthly Payment + Lease Term – 0 points
   • Car Price – 1 point
   • Down Payment – 1 point
   • Residual Value – 3 points
2. Does the manufacturer/dealer provide complete lease info on its website for any car combo a consumer may choose? – Worth 1 Point Total
   • Yes – 1 point
   • No – 0 points
3. How prevalent is the lease information provided on the manufacturer/dealer’s website? – Worth 2 Points Total
   • Complete info not provided – 0 points
   • Complete info provided but in fine print or hard to find – 1 point
   • Complete info provided and prevalent – 2 points
4. Does the manufacturer/dealer provide complete lease info offline? – Worth 2 Points Total
   • Both car manufacturers and dealers willing to provide complete info – 2 points
   • Only car manufacturers willing to provide complete info – 1 point
   • Only car dealers willing to provide complete info – 1 point
   • Neither car manufacturers nor dealers willing to provide complete info – 0 points

 

Historical Data Car Loan APRs 2013-2019  Note: Below data are based on a 36-month term.

	Q2 2019 (vs. last yr)	Q1 2019 (vs. last yr)	Q4 2018 (vs. last yr)	Q3 2018 (vs. last yr)	Q2 2018 (vs. last yr)	Q1 2018 (vs. last yr)	Q4 2017 (vs. last yr)	Q3 2017 (vs. last yr)	Q2 2017 (vs. last yr)	Q1 2017 (vs. last yr)	Q4 2016 (vs. last yr)	Q3 2016 (vs. last yr)	Q2 2016 (vs. last yr)	Q1 2016 (vs. last yr)	Q4 2015 (vs. last yr)	Q3 2015 (vs. last yr)	Q2 2015 (vs. last yr)	Q1 2015 (vs. last yr)	Q4 2014 (vs. last yr)	Q3 2014 (vs. last yr)	Q2 2014 (vs. last yr)	Q1 2014 (vs. last yr)	Q4 2013 (vs. last yr)
National & Regional Banks – New Cars	4.36% (3.88%)	4.41% (12.50%)	4.36% (11.73%)	4.20% (9.36%)	4.19% (8.22%)	3.92% (2.33%)	3.90% (2.07%)	3.84% (0.97%)	3.88% (-0.62%)	3.83% (-7.66%)	3.82% (-6.30%)	3.81% (-11.36%)	3.90% (-8.91%)	4.15% (-3.20%)	4.08% (-5.25%)	4.29% (-0.76%)	4.28% (-1.45%)	4.29% (-2.44%)	4.31% (-3.20%)	4.33% (-2.55%)	4.34% (-3.74%)	4.39% (-5.26%)	4.45% (-7.87%)
National & Regional Banks – Used Cars	5.08% (4.68%)	5.07% (10.30%)	5.02% (9.68%)	4.86% (6.99%)	4.85% (6.06%)	4.59% (1.49%)	4.57% (1.00%)	4.54% (0.80%)	4.58% (0.81%)	4.53% (-4.27%)	4.53% (-5.79%)	4.50% (-10.84%)	4.54% (-8.76%)	4.73% (-4.73%)	4.81% (-6.14%)	5.05% (1.47%)	4.98% (-0.98%)	4.96% (-1.30%)	5.12% (-1.16%)	4.98% (-2.04%)	5.02% (-2.84%)	5.03% (-4.65%)	5.18% (-5.90%)
Credit Unions – New Cars	3.41% (11.06%)	3.39% (29.79%)	3.34% (30.64%)	3.12% (25.73%)	3.07% (27.30%)	2.61% (13.47%)	2.55% (17.65%)	2.48% (12.58%)	2.41% (9.18%)	2.30% (4.56%)	2.17% (0.29%)	2.20% (1.06%)	2.21% (-7.43%)	2.20% (-8.62%)	2.16% (-11.40%)	2.18% (-11.97%)	2.39% (-3.58%)	2.41% (-4.24%)	2.44% (9.25%)	2.47% (N/A)	2.48% (N/A)	2.51% (N/A)	2.24% (N/A)
Credit Union – Used Cars	3.66% (9.59%)	3.63% (26.68%)	3.61% (26.98%)	3.39% (24.14%)	3.34% (24.81%)	2.87% (10.79%)	2.84% (15.85%)	2.73% (10.91%)	2.68% (7.55%)	2.59% (3.74%)	2.45% (-0.42%)	2.46% (0.32%)	2.49% (-6.32%)	2.49% (-6.96%)	2.46% (-15.79%)	2.45% (-16.85%)	2.66% (-10.38%)	2.68% (-9.94%)	2.93% (15.35%)	2.95% (N/A)	2.96% (N/A)	2.98% (N/A)	2.54% (N/A)
Community & Small Banks – New Cars	4.47% (0.18%)	4.47% (8.46%)	4.54% (11.36%)	4.47% (9.75%)	4.47% (8.01%)	4.12% (-2.12%)	4.08% (-3.22%)	4.07% (-3.17%)	4.14% (-2.02%)	4.21% (-3.24%)	4.21% (1.96%)	4.20% (-3.17%)	4.22% (13.82%)	4.35% (14.42%)	4.13% (4.41%)	4.34% (9.64%)	3.71% (-7.27%)	3.80% (-4.82%)	3.96% (-12.14%)	3.96% (N/A)	4.00% (N/A)	4.00% (N/A)	4.50% (N/A)
Community & Small Banks – Used Cars	5.30% (-1.78%)	5.29% (3.90%)	5.42% (4.89%)	5.40% (3.61%)	5.40% (4.21%)	5.09% (-2.76%)	5.17% (-1.25%)	5.21% (-2.88%)	5.18% (-3.45%)	5.23% (-1.86%)	5.23% (1.17%)	5.36% (1.19%)	5.36% (17.93%)	5.33% (18.18%)	5.17% (5.61%)	5.30% (8.71%)	4.55% (-7.48%)	4.51% (-6.86%)	4.90% (-2.21%)	4.88% (N/A)	4.92% (N/A)	4.84% (N/A)	5.01% (N/A)
Car Manufacturers – New Car Financing	2.75% (29.84%)	3.54% (89.24%)	2.69% (11.62%)	2.51% (44.05%)	2.11% (5.20%)	1.87% (5.62%)	2.41% (111.55%)	1.74% (20.00%)	2.01% (4.15%)	1.77% (-19.18%)	1.14% (-42.71%)	1.45% (19.83%)	1.93% (21.87%)	2.19% (4.78%)	1.99% (N/A)	1.21% (N/A)	1.58% (N/A)	2.09% (N/A)	1.92% (-21.89%)	N/A (N/A)	N/A (N/A)	N/A (N/A)	2.46% (N/A)
Car Manufacturers – Leasing	5.80% (10.94%)	5.94% (15.79%)	4.95% (0.75%)	5.62% (27.68%)	5.23% (-5.68%)	5.13% (17.19%)	4.91% (7.30%)	4.40% (-3.93%)	5.54% (12.15%)	4.38% (-1.13%)	4.58% (-3.78%)	4.58% (-8.40%)	4.94% (0.43%)	4.43% (-10.14%)	4.76% (N/A)	5.00% (N/A)	4.92% (N/A)	4.93% (N/A)	5.73% (31.84%)	N/A (N/A)	N/A (N/A)	N/A (N/A)	4.35% (N/A)

Historical Financing Offers by Car Manufacturer

Car Manufacturer	Financing APR - Q2 2019	Lease APR (inferred interest rate) - Q2 2019	Financing APR - Q1 2019	Lease APR (inferred interest rate) - Q1 2019	Financing APR - Q4 2018	Lease APR (inferred interest rate) - Q4 2018	Financing APR - Q3 2018	Lease APR (inferred interest rate) - Q3 2018	Financing APR - Q2 2018	Lease APR (inferred interest rate) - Q2 2018	Financing APR - Q1 2018	Lease APR (inferred interest rate) - Q1 2018	Financing APR - Q4 2017	Lease APR (inferred interest rate) - Q4 2017	Financing APR - Q3 2017	Lease APR (inferred interest rate) - Q3 2017	Financing APR - Q2 2017	Lease APR (inferred interest rate) - Q2 2017	Financing APR - Q1 2017	Lease APR (inferred interest rate) - Q1 2017	Financing APR - Q4 2016	Lease APR (inferred interest rate) - Q4 2016	Financing APR - Q3 2016	Lease APR (inferred interest rate) - Q3 2016	Financing APR - Q2 2016	Lease APR (inferred interest rate) - Q2 2016	Financing APR - Q1 2016	Lease APR (inferred interest rate) - Q1 2016	Financing APR - Q4 2015	Lease APR (inferred interest rate) - Q4 2015	Financing APR - Q3 2015	Lease APR (inferred interest rate) - Q3 2015	Financing APR - Q2 2015	Lease APR (inferred interest rate) - Q2 2015	Financing APR - Q1 2015	Lease APR (inferred interest rate) - Q1 2015	Financing APR - Q4 2014	Lease APR (inferred interest rate) - Q4 2014	Financing APR - Q4 2013	Lease APR (inferred interest rate) - Q4 2013
Nissan	N/A	N/A	4.99%	4.31%	0.00%	2.63%	4.00%	5.25%	2.99%	3.45%	0.00%	4.74%	0.00%	5.28%	3.99%	5.61%	N/A	N/A	2.81%	4.54%	N/A	N/A	0.00%	2.54%	0.00%	5.09%	0.90%	4.53%	2.99%	4.18%	0.00%	3.06%	0.00%	4.57%	0.00%	0.94%	0.00%	4.74%	0.00%	2.04%
Toyota	0.00%	3.66%	1.90%	2.85%	3.90%	2.90%	1.90%	2.95%	1.90%	3.01%	0.90%	2.12%	0.90%	2.88%	0.00%	3.97%	0.00%	3.45%	0.00%	3.30%	0.00%	4.10%	0.00%	2.97%	0.00%	2.35%	2.99%	1.94%	0.00%	5.78%	0.00%	3.29%	0.00%	2.87%	0.00%	4.39%	1.90%	5.66%	3.38%	4.42%
Mazda	5.90%	7.12%	5.49%	3.56%	3.99%	3.26%	0.00%	5.88%	N/A	N/A	0.00%	3.49%	N/A	N/A	0.00%	4.96%	N/A	N/A	0.00%	2.31%	0.00%	4.84%	2.69%	4.86%	0.00%	6.19%	1.99%	5.76%	3.99%	5.15%	0.90%	2.86%	3.99%	9.21%	2.24%	5.75%	0.90%	6.36%	0.90%	3.23%
Honda	1.90%	7.92%	1.90%	6.03%	1.90%	7.93%	1.90%	7.31%	1.90%	5.45%	3.90%	6.87%	4.99%	8.84%	0.90%	4.76%	0.90%	6.19%	0.90%	2.66%	0.90%	3.89%	1.99%	3.13%	0.90%	3.56%	0.90%	6.40%	0.90%	2.83%	0.90%	3.36%	0.90%	4.77%	0.90%	5.67%	0.90%	3.67%	0.90%	6.25%
Chrysler	0.00%	2.54%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0.00%	2.27%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0.90%	3.41%	1.90%	9.15%	0.00%	4.55%	1.98%	8.28%	3.64%	4.80%
Lexus	N/A	N/A	2.40%	6.70%	N/A	N/A	2.99%	5.38%	N/A	N/A	2.90%	2.73%	N/A	N/A	2.99%	4.97%	N/A	N/A	1.90%	4.18%	N/A	N/A	0.90%	5.85%	1.90%	4.05%	2.90%	5.26%	2.90%	3.92%	0.90%	3.68%	N/A	N/A	N/A	N/A	N/A	N/A	2.90%	2.17%
Volvo	N/A	N/A	4.00%	4.95%	N/A	N/A	3.59%	6.83%	N/A	N/A	2.59%	5.70%	N/A	N/A	2.49%	5.20%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	1.99%	2.70%	N/A	N/A	2.69%	1.94%	1.69%	2.65%	1.90%	2.57%	1.90%	7.23%	N/A	N/A
Kia	N/A	N/A	0.00%	2.06%	N/A	N/A	0.00%	7.93%	N/A	N/A	2.90%	6.59%	3.90%	7.60%	0.00%	2.34%	N/A	N/A	0.00%	5.21%	0.00%	5.39%	2.00%	3.65%	1.90%	6.99%	2.99%	2.70%	N/A	N/A	0.00%	4.83%	0.00%	7.54%	1.90%	4.36%	0.00%	5.27%	0.90%	6.01%
Ford	3.24%	8.32%	N/A	N/A	N/A	N/A	0.00%	4.33%	N/A	N/A	0.00%	6.78%	0.00%	2.33%	0.00%	2.58%	3.50%	3.46%	0.00%	5.81%	0.00%	6.47%	0.00%	3.10%	0.00%	3.44%	2.90%	5.00%	N/A	N/A	0.00%	5.02%	0.00%	2.81%	5.90%	6.95%	3.94%	4.71%	4.90%	2.38%
BMW	3.99%	7.01%	3.89%	7.14%	N/A	N/A	5.59%	5.25%	N/A	N/A	3.89%	3.79%	3.89%	2.37%	3.29%	4.74%	3.59%	5.03%	2.91%	5.14%	2.99%	5.18%	0.90%	3.16%	2.97%	3.72%	2.92%	4.97%	2.92%	5.98%	0.90%	4.42%	0.90%	3.35%	3.12%	6.67%	3.12%	2.26%	2.99%	4.67%
Volkswagen	3.90%	5.10%	5.00%	5.18%	3.99%	4.07%	1.90%	4.57%	1.90%	6.31%	1.90%	4.18%	0.90%	3.34%	0.00%	4.87%	N/A	N/A	2.90%	3.66%	2.90%	3.52%	1.99%	3.59%	1.90%	3.34%	2.90%	3.23%	1.90%	5.02%	0.00%	5.42%	0.00%	3.89%	2.90%	3.97%	2.90%	5.68%	3.90%	2.51%
Infiniti	N/A	N/A	5.29%	4.31%	N/A	N/A	0.00%	3.00%	N/A	N/A	3.59%	4.99%	2.99%	2.44%	1.90%	2.75%	0.90%	5.62%	2.99%	5.72%	2.99%	4.69%	0.99%	4.23%	1.90%	3.62%	1.90%	4.81%	N/A	N/A	1.99%	3.84%	1.90%	4.14%	2.90%	2.87%	2.49%	4.68%	2.99%	5.64%
Audi	N/A	N/A	4.99%	3.09%	5.79%	7.27%	4.99%	5.34%	3.49%	1.98%	2.99%	4.71%	N/A	N/A	3.99%	4.58%	3.40%	4.87%	2.90%	4.08%	N/A	N/A	1.99%	4.11%	2.90%	6.94%	3.90%	5.83%	2.90%	3.88%	2.90%	3.34%	2.90%	2.73%	2.29%	5.23%	2.90%	6.41%	1.90%	4.34%
Chevrolet	3.99%	7.92%	3.99%	7.97%	3.55%	6.35%	7.49%	6.49%	3.29%	5.45%	2.99%	4.61%	3.99%	4.54%	2.99%	6.28%	N/A	N/A	3.99%	2.66%	N/A	N/A	2.90%	4.68%	2.90%	2.71%	1.99%	1.91%	1.99%	6.97%	1.99%	5.03%	2.99%	5.28%	2.90%	3.27%	1.90%	1.32%	2.90%	1.15%
Subaru	N/A	N/A	3.49%	7.64%	0.00%	3.37%	0.00%	2.79%	0.00%	2.23%	0.00%	3.84%	N/A	N/A	N/A	N/A	N/A	N/A	0.00%	3.55%	0.00%	7.30%	0.00%	6.76%	1.49%	8.35%	1.49%	6.59%	1.49%	3.92%	1.90%	5.23%	1.49%	3.81%	1.49%	4.37%	2.99%	8.01%	0.00%	2.50%
Buick	N/A	N/A	4.90%	6.81%	N/A	N/A	4.00%	8.39%	N/A	N/A	2.99%	5.46%	2.99%	4.93%	N/A	N/A	N/A	N/A	5.90%	4.43%	N/A	N/A	N/A	N/A	1.99%	5.02%	2.90%	3.88%	N/A	N/A	0.00%	7.26%	N/A	N/A	N/A	N/A	1.85%	4.13%	1.90%	3.49%
Mercedes	N/A	N/A	5.19%	8.40%	N/A	N/A	3.99%	5.01%	3.99%	8.40%	3.99%	6.46%	3.49%	6.31%	4.90%	5.46%	2.99%	6.29%	3.99%	7.21%	1.99%	3.01%	2.99%	4.81%	2.69%	3.46%	2.99%	4.23%	N/A	N/A	3.49%	4.32%	N/A	N/A	2.99%	8.11%	2.99%	9.28%	3.90%	5.43%
Mini	N/A	N/A	2.90%	7.78%	N/A	N/A	1.90%	7.81%	1.90%	6.33%	0.90%	10.29%	N/A	N/A	2.90%	7.95%	N/A	N/A	2.40%	6.52%	N/A	N/A	0.00%	7.82%	3.44%	6.19%	0.90%	6.84%	N/A	N/A	1.49%	6.83%	1.90%	6.60%	0.90%	4.27%	1.90%	7.89%	N/A	N/A
Cadillac	3.99%	2.71%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	1.90%	5.11%	N/A	N/A	0.00%	4.37%	N/A	N/A	N/A	N/A	N/A	N/A	0.00%	3.17%	N/A	N/A	1.90%	4.17%	1.90%	3.81%	1.88%	6.65%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Hyundai	N/A	N/A	5.00%	6.52%	1.90%	2.59%	3.99%	7.21%	N/A	N/A	0.00%	2.51%	N/A	N/A	0.00%	2.93%	N/A	N/A	0.00%	2.55%	0.00%	2.80%	0.00%	3.03%	1.90%	5.39%	2.99%	4.18%	N/A	N/A	1.90%	7.24%	2.59%	3.62%	2.90%	7.42%	2.90%	6.37%	0.00%	4.73%
Dodge	0.00%	4.27%	0.00%	9.85%	N/A	N/A	0.00%	6.05%	0.00%	10.29%	0.00%	8.11%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	2.90%	10.02%	3.90%	9.24%	0.00%	5.99%	0.00%	5.68%	0.00%	10.41%	0.00%	10.86%	1.90%	7.74%	1.99%	10.64%	3.90%	6.78%
Acura	3.29%	7.21%	1.90%	7.78%	1.90%	9.14%	1.90%	4.57%	1.90%	4.57%	0.90%	6.71%	0.90%	8.11%	0.90%	2.86%	0.90%	6.19%	0.90%	4.68%	1.90%	3.82%	1.99%	5.32%	1.90%	4.28%	1.90%	4.06%	N/A	N/A	1.90%	8.52%	1.90%	3.84%	0.90%	3.20%	0.90%	4.53%	0.90%	5.08%
Mitsubishi	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	2.49%	3.84%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	2.99%	3.50%	N/A	N/A	0.00%	3.31%	N/A	N/A
Jaguar	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	1.90%	3.15%	N/A	N/A	1.90%	2.35%	1.90%	8.73%	1.90%	3.12%	N/A	N/A	1.90%	3.06%	1.99%	2.00%	1.90%	2.57%	N/A	N/A	N/A	N/A	2.90%	6.87%	1.90%	5.14%	N/A	N/A	N/A	N/A
Fiat	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0.00%	9.01%	N/A	N/A	3.90%	7.53%	3.90%	5.73%	N/A	N/A	N/A	N/A	N/A	N/A	3.90%	3.12%	3.90%	6.05%	N/A	N/A	4.90%	6.08%
Scion	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	1.90%	3.35%	1.90%	6.94%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	3.95%	7.59%
Average	2.75%	5.80%	3.54%	5.94%	2.69%	4.95%	2.51%	5.62%	2.11%	5.23%	1.87%	5.13%	2.41%	4.91%	1.74%	4.40%	2.01%	5.54%	1.77%	4.38%	1.14%	4.58%	1.45%	4.58%	1.93%	4.94%	2.19%	4.43%	1.99%	4.76%	1.21%	5.00%	1.58%	4.92%	2.09%	4.93%	1.92%	5.73%	2.46%	4.35%

Historical Manufacturers Transparency Score

Manufacturer	Transp. Score - Q2 2019	Transp. Score - Q1 2019	Transp. Score - Q4 2018	Transp. Score - Q3 2018	Transp. Score - Q2 2018	Transp. Score - Q1 2018	Transp. Score - Q4 2017	Transp. Score - Q3 2017	Transp. Score - Q2 2017	Transp. Score - Q1 2017	Transp. Score - Q4 2016	Transp. Score - Q3 2016	Transp. Score - Q2 2016	Transp. Score - Q1 2016	Transp. Score - Q4 2015	Transp. Score - Q3 2015	Transp. Score - Q2 2015	Transp. Score - Q1 2015	Transp. Score - Q4 2014
Mazda	5	5	5	5	5	5	5	5	6	6	6	6	6	6	6	6	6	6	6
Infiniti	5	6	6	3	3	6	6	6	6	6	6	6	6	6	6	6	6	6	6
Mini	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6
BMW	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	3
Acura	5	5	5	5	5	5	5	5	5	6	6	6	6	6	6	6	6	6	3
Jaguar	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	6	6	N/A
Honda	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	6	3	3
Volkswagen	3	3	3	3	3	6	6	6	6	6	6	6	6	6	6	6	6	3	3
Kia	3	3	3	3	3	3	3	6	6	6	6	6	6	6	6	6	6	3	3
Toyota	6	6	6	6	6	6	6	6	6	6	6	6	6	6	3	3	3	3	3
Nissan	6	6	6	6	6	6	6	6	6	6	6	6	6	6	3	3	3	3	3
Ford	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3
Dodge	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3
Audi	6	6	5	6	6	6	6	3	6	6	6	6	6	3	3	3	3	3	3
Volvo	2	2	2	2	2	3	3	3	3	2	2	2	2	2	3	3	3	3	3
Fiat	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	3	3	N/A
Mitsubishi	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	3	N/A	3
Cadillac	3	3	3	3	3	2	2	2	2	2	2	2	2	2	3	3	3	N/A	N/A
Chevrolet	3	3	3	3	3	2	2	2	2	2	2	2	2	2	1	1	1	1	3
Chrysler	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	1	1	3
Hyundai	6	6	6	6	6	6	3	6	6	6	6	6	6	6	1	1	1	1	1
Subaru	5	5	5	5	5	5	5	5	5	5	5	5	5	5	2	2	1	1	1

List of Cars Used to Calculate the Lease APR (inferred interest rate) by Quarter:

Car Manufacturer	Car Model - Q2 2019	Car Model - Q1 2019	Car Model - Q4 2018	Car Model - Q3 2018	Car Model - Q2 2018	Car Model - Q1 2018	Car Model - Q4 2017	Car Model - Q3 2017	Car Model - Q2 2017	Car Model - Q1 2017	Car Model - Q4 2016	Car Model - Q3 2016	Car Model - Q2 2016	Car Model - Q1 2016	Car Model - Q4 2015	Car Model - Q3 2015	Car Model - Q2 2015	Car Model - Q1 2015	Car Model - Q4 2014	Car Model - Q4 2013
	2019 Honda Accord LX ($21,695)	2019 Honda Accord LX ($22,115)	2019 Honda Accord LX ($22,995)	2018 Honda Accord Sedan LX ($22,116)	2018 Honda Accord Sedan LX ($22,208)	2018 Honda Accord Sedan LX ($23,038)	2018 Honda Accord Sedan LX ($22,238)	2017 Honda Accord Sedan LX ($20,130)	2017 Honda Accord Sedan LX ($21,630)	2017 Honda Accord Sedan LX ($21,086)	2017 Honda Accord Sedan EX ($23,453)	2017 Honda Accord Sedan LX ($21,387)	2016 Honda Accord Sedan LX CVT ($21,468)	2016 Honda Accord Sedan LX CVT ($20,496)	2016 Honda Accord Sedan LX CVT ($21,435)	2015 Honda Accord Sedan LX CVT ($20,800)	2015 Honda Accord Sedan LX CVT ($21,591)	2015 Honda Accord Sedan LX CVT ($21,160)	2015 Honda Accord Sedan LX Automatic ($21,014)	2014 Civic Coupe LX ($17,600)
	2019 Toyota Camry SE ($27,861)	2019 Toyota Camry SE ($23,683)	2019 Toyota Camry SE ($26,200)	2018 Toyota Camry SE FWD ($25,823)	2018 Toyota Camry SE FWD ($28,253)	2018 Toyota Camry SE FWD ($24,700)	2018 Toyota Camry SE FWD ($26,637)	2017 Toyota Camry SE FWD ($23,200)	2017 Toyota Camry SE FWD ($20,440)	2017 Toyota Camry SE FWD ($23,419)	2017 Toyota Camry SE FWD ($25,464)	2017 Toyota Camry SE FWD ($22,447)	2016 Toyota Camry SE Sedan Automatic ($21,675)	2016 Toyota Camry SE Sedan Automatic ($21,920)	2016 Toyota Camry SE Sedan Automatic ($22,176)	2015 Toyota Camry SE Sedan Automatic ($23,088)	2015 Toyota Camry SE Sedan Automatic ($21,888)	2015 Toyota Camry SE Sedan Automatic ($24,088)	2015 Toyota Camry SE Sedan Automatic ($22,665)	2014 Toyota Camry L ($22,988)
	2019 Volkswagen Jetta 1.4T S ($18,500)	2019 Volkswagen Jetta 1.4T S ($19,348)	2019 Volkswagen Jetta 1.4T S ($17,500)	2019 Volkswagen Jetta 1.4T S ($18,461)	2019 Volkswagen Jetta 1.4T S ($18,151)	2018 Volkswagen Jetta Sedan SE Automatic ($19,886)	2018 Volkswagen Jetta Sedan SE Automatic ($17,250)	2017 Volkswagen Jetta Sedan SE Automatic ($18,270)	N/A	2017 Volkswagen Jetta Sedan SE Automatic ($20,700)	2017 Volkswagen Jetta SE Automatic ($20,900	2016 Volkswagen Jetta Sedan S Automatic ($18,040)	2016 Volkswagen Jetta Sedan S Automatic ($19.315)	2016 Volkswagen Jetta Sedan S Automatic ($17,653)	2016 Volkswagen Jetta Sedan S Automatic ($20,596)	2015 Volkswagen Jetta Sedan S Automatic ($22,700)	2015 Volkswagen Jetta Sedan S Automatic ($19,269)	2015 Volkswagen Jetta Sedan S Automatic ($16,038)	2015 Volkswagen Jetta Sedan S Automatic ($17,995)	2014 Volkswagen Jetta Sedan S ($14,999)
	2019 Chevrolet Cruze LS ($19,700)	2019 Chevrolet Cruze LS ($19,995)	2019 Chevrolet Cruze LS ($19,615)	2018 Chevrolet Cruze Sedan LS Automatic ($20,465)	2018 Chevrolet Cruze Sedan LS Automatic ($21,083)	2018 Chevrolet Cruze Sedan LS Automatic ($18,000)	2018 Chevrolet Cruze Sedan LS Automatic ($23,706)	2017 Chevrolet Cruze Sedan LT Automatic ($21,500)	N/A	2017 Chevrolet Cruze Sedan LS Automatic ($19,607)	N/A	2016 Chevrolet Cruze Sedan LS ($18,510)	2016 Chevrolet Cruze Sedan LS ($18,597)	2016 Chevrolet Cruze Sedan LS ($18,973)	2016 Chevrolet Cruze Sedan LS ($15,510)	2015 Chevrolet Cruze Sedan LS ($16,237)	2015 Chevrolet Cruze Sedan LS ($17,605)	2015 Chevrolet Cruze Sedan LS Manual ($17,858)	2015 Chevrolet Cruze Sedan LS Manual ($17,950)	2014 Chevrolet Cruze LS ($17,438)
	2019 BMW 330i ($44,997)	2018 BMW 320i ($32,990)	N/A	2018 BMW 3 Series - 320i Sedan ($32,590)	N/A	2018 BMW 3 Series - 320i Sedan ($38,536)	2018 BMW 3 Series - 320i Sedan ($38,735)	2017 BMW 3 Series - 320i Sedan ($36,350)	2017 BMW 3 Series - 320i Sedan ($34,790)	2017 BMW 3 Series - 320i Sedan ($41,260)	2017 BMW 3 Series -320i Sedan ($33,888)	2016 BMW 3 Series -320i Sedan ($35,993)	2016 BMW 3 Series -320i Sedan ($33,600)	2016 BMW 3 Series -320i Sedan ($35,375)	2016 BMW 3 Series -320i Sedan ($35,505)	2015 BMW 3 Series -320i Sedan ($30,850)	2015 BMW 3 Series -320i Sedan ($31,445)	2015 BMW 3 Series -320i Sedan ($32,950)	2015 BMW 3 Series -320i Sedan ($31,940)	2014 BMW 320i Sedan ($34,500)
	N/A	2019 Nissan Altima S ($21,755)	2019 Nissan Altima 2.5 S ($22,999)	2018 Nissan Altima S ($22,500)	2018 Nissan Altima S ($23,500)	2018 Nissan Altima S ($21,925)	2018 Nissan Altima S ($21,606)	2017 Nissan Altima 2.5 S ($20,740)	N/A	2017 Nissan Altima 2.5 S ($22,020)	N/A	2016 Nissan Altima 2.5 S ($23,664)	2016 Nissan Altima 2.5 S ($21,058)	2015 Nissan Altima 2.5 S ($21,801)	2015 Nissan Altima 2.5 S ($18,975)	2015 Nissan Altima 2.5 S ($20,758)	2015 Nissan Altima 2.5 S ($22,175)	2015 Nissan Altima 2.5 S ($22,995)	2015 Nissan Altima 2.5 S ($19,848)	2014 Nissan Altima 4dr Sedan I4 2.5 S ($21,500)
	N/A	2019 Hyundai Elantra SE ($15,800)	2019 Hyundai Elantra SE ($18,270)	2018 Hyundai Elantra SE Automatic ($15,245)	N/A	2018 Hyundai Elantra SE Automatic ($16,245)	N/A	2018 Hyundai Elantra SE Automatic ($18,435)	N/A	2017 Hyundai Elantra SE Automatic ($26,248)	2017 Hyundai Elantra SE Automatic ($20,060)	2017 Hyundai Elantra SE Automatic ($17,750)	2016 Hyundai Elantra SE Automatic ($16,250)	2016 Hyundai Elantra SE ($16,866)	N/A	2015 Hyundai Elantra SE ($16,483)	2015 Hyundai Elantra SE ($18,000)	2015 Hyundai Elantra SE Manual ($15,794)	2015 Hyundai Elantra SE Manual ($17,055)	2014 Hyundai Sonata SE 2.0T ($24,010)
	N/A	2019 Kia Optima LX ($24,500)	N/A	2018 Kia Optima LX ($19,897)	N/A	2018 Kia Optima LX ($18,960)	2018 Kia Optima LX ($18,964)	2018 Kia Optima LX ($23,585)	N/A	2016 Kia Optima LX ($19,314)	2017 Kia Optima LX ($23,400)	2016 Kia Optima LX ($21,839)	2016 Kia Optima LX ($21,370)	2016 Kia Optima LX ($22,945)	N/A	2015 Kia Optima LX ($19,440)	2015 Kia Optima LX ($18,390)	2015 Kia Optima LX ($19,485)	2015 Kia Optima LX ($19,208)	2014 Kia Soul Base (A6) 4dr H ($16,236)
	2019 Chrysler 300 Touring ($30,609)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	2015 Chrysler 200 Limited Sedan ($19,540)	2015 Chrysler 200 Limited Sedan ($20,460)	2015 Chrysler 200 Limited Sedan ($22,220)	N/A	2014 Chrysler 200 ($22,800)
	2019 Mazda3 Sedan ($20,331)	2019 Mazda CX-3 AWD ($22,875)	2019 Mazda CX-3 Touring ($22,700)	2018 Mazda3 Sport 4D Sedan ($17,010)	N/A	2018 Mazda3 Sport 4D Sedan ($16,500)	N/A	2017 Mazda3 Sport 4D Sedan ($16,820)	N/A	2017 Mazda3 Sport 4D Sedan ($20,030)	2017 Mazda3 Sport Sedan ($17,869)	2016 Mazda3 i Sport ($17,418)	2016 Mazda3 i Sport ($16,781)	2016 Mazda3 i Sport ($18,000)	2016 Mazda3 i Sport ($18,583)	2015 Mazda3 4-Door i SV ($23,710)	2015 Mazda3 4-Door i SV ($17,115)	2015 Mazda3 4-Door i SV ($18,226)	2015 Mazda3 4-Door i SV ($17,040)	2014 Mazda 3 Sedan ($20,599)
	2019 Acura ILX ($23,847)	2019 Acura ILX ($23,145)	2019 Acura ILX ($25,777)	2018 Acura ILX ($24,070)	2018 Acura ILX ($24,074)	2018 Acura ILX ($25,000)	2018 Acura ILX ($25,186)	2017 Acura ILX ($22,605)	2017 Acura ILX ($22,450)	2017 Acura ILX ($24,999)	2017 Acura ILX ($23,500)	2017 Acura ILX ($27,922)	2016 Acura ILX 5-Speed Automatic ($24,500)	2016 Acura ILX 5-Speed Automatic ($25,614)	N/A	2015 Acura ILX 5-Speed Automatic ($31,656)	2015 Acura ILX 5-Speed Automatic ($25,995)	2015 Acura ILX 5-Speed Automatic ($23,987)	2015 Acura ILX 5-Speed Automatic ($22,512)	2014 Acura TL ($36,960)
	N/A	2019 Subaru Crosstrek ($22,713)	2019 Subaru Outback 2.5i ($24,995)	2018 Subaru Outback 2.5i ($25,225)	2018 Subaru Outback 2.5i ($26,800)	2018 Subaru Outback 2.5i ($25,356)	N/A	N/A	N/A	2017 Subaru Outback 2.5i ($29,500)	2017 Subaru Outback 2.5i ($24,313)	2016 Subaru Outback 2.5i ($25,200)	2016 Subaru Outback 2.5i ($27,953)	2016 Subaru Outback 2.5i ($24,161)	2016 Subaru Outback 2.5i ($26,817)	2015 Subaru Outback 2.5i ($28,043)	2015 Subaru Outback 2.5i ($25,278)	2015 Subaru Outback 2.5i ($27,802)	2015 Subaru Outback 2.5i ($22,500)	2014 Subaru Outback ($22,998)
	2019 Ford Fusion SE FWD ($22,223)	N/A	N/A	2018 Ford Fusion SE FWD ($22,987)	N/A	2018 Ford Fusion SE FWD ($19,715)	2018 Ford Fusion SE FWD ($23,197)	2017 Ford Fusion SE FWD ($20,745)	2017 Ford Fusion SE FWD ($22,713)	2017 Ford Fusion SE FWD ($19,761)	2017 Ford Fusion SE ($21,235)	2016 Ford Fusion SE ($24,180)	2016 Ford Fusion SE ($21,680)	2016 Ford Fusion SE ($23,895)	N/A	2015 Ford Fusion SE ($22,371)	2015 Ford Fusion SE ($23,370)	2015 Ford Fusion SE ($20,156)	2015 Ford Fusion SE ($22,474)	2014 Ford Fusion ($20,697)
	N/A	2019 Dodge Charger SXT ($30,390)	N/A	2018 Dodge Charger SXT RWD ($33,320)	2018 Dodge Charger SXT RWD ($27,450)	2018 Dodge Charger SXT RWD ($29,590)	N/A	N/A	N/A	N/A	N/A	2016 Dodge Charger SE ($27,495)	2016 Dodge Charger SE ($26,771)	2016 Dodge Charger SE ($27,490)	2016 Dodge Charger SE ($28,524)	2015 Dodge Charger SE ($30,190)	2015 Dodge Charger SE ($26,900)	2014 Dodge Charger SE ($26,453)	2014 Dodge Charger SE ($25,020)	2014 Dodge Charger ($27,015)
	N/A	2019 Audi A4 2.0T Premium Sedan ($39,200)	2019 Audi A4 2.0T Premium Sedan ($37,577)	2018 Audi A4 2.0T Ultra Premium Sedan ($36,550)	2018 Audi A4 2.0 TFSI Premium FWD ($35,031)	2018 Audi A4 Sedan 2.0T Ultra FWD S Tronic ($31,877)	N/A	2017 Audi A4 2.0 Manual Quattro ($47,000)	2017 Audi A4 2.0 TFSI Premium FWD ($52,625)	2017 Audi A4 2.0 TFSI Premium FWD ($37,584)	N/A	2017 Audi A4 2.0 TFSI Premium FWD ($36,980)	2016 Audi A4 2.0T FWD ($37,500)	2016 Audi A4 2.0T FWD ($40,945)	2016 Audi A4 2.0T FWD ($38,495)	2015 Audi A4 2.0T FWD ($34,000)	2015 Audi A4 2.0T FWD ($36,000)	2015 Audi A4 2.0T FWD Multitronic ($36,000)	2015 Audi A4 2.0T FWD Multitronic ($32,982)	2014 Audi A4 ($35,253)
	N/A	2019 Infiniti Q50 ($36,070)	N/A	2018 Infiniti Q50 3.0 ($28,190)	N/A	2018 Infiniti Q50 3.0 ($55,101)	2018 Infiniti Q50 ($37,795)	2017 Infiniti Q50 3.0 ($35,000)	2017 Infiniti Q50 ($32,912)	Infiniti 2017 Q60 RWD ($38,590)	2017 Infiniti Q50 ($34,305)	2016 Infiniti Q50 3.7 ($37,107)	2016 Infiniti Q50 3.7 ($32,500)	2016 Infiniti Q50 3.7 ($30,995)	N/A	2016 Infiniti Q50 3.7 ($34,310)	2016 Infiniti Q50 3.7 ($39,545)	2014 Infiniti Q50 3.7 ($34,680)	2014 Infiniti Q50 3.7 ($36,334)	2013 Infiniti G37 ($33,835)
	N/A	2019 Mini Cooper Hardtop ($25,805)	N/A	2018 Mini Cooper Hardtop ($23,895)	2018 Mini Cooper Hardtop ($25,025)	2018 Mini Cooper Hardtop ($24,860)	N/A	2017 Mini Cooper Hardtop ($21,110)	N/A	2017 Mini Cooper Hardtop ($26,424)	N/A	2016 Mini Cooper Hardtop ($25,045)	2016 Mini Cooper Hardtop ($26,220)	2016 Mini Cooper Hardtop ($21,373)	N/A	2015 Mini Cooper Hardtop ($25,053)	2015 Mini Cooper Hardtop ($18,921)	2015 Mini Cooper Hardtop ($21,000)	2015 Mini Cooper Hardtop ($23,550)	N/A
	N/A	2019 Volvo S60 T5 ($42,000)	N/A	2018 Volvo S60 T5 FWD ($30,300)	N/A	2018 Volvo S60 ($33,215)	N/A	2017 Volvo S60 ($32,875)	N/A	N/A	N/A	N/A	2016 Volvo S60 T5 Drive-E ($31,000)	2016 Volvo S60 T5 Drive-E ($36,295)	N/A	2015 Volvo S60 T5 Drive-E ($37,054)	2015 Volvo S60 T5 Drive-E ($33,750)	2015 Volvo S60 T5 Drive-E ($37,397)	2015 Volvo S60 T5 Drive-E FWD ($33,163)	N/A
	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	2017 Fiat 500 POP Automatic ($16,730)	N/A	2016 Fiat 500 POP Automatic ($14,490)	2016 Fiat 500 POP ($19,350)	N/A	N/A	N/A	2015 Fiat 500 POP ($18,676)	2015 Fiat 500 POP ($17,495)	N/A	2014 Fiat 500 ($14,495)
	N/A	N/A	N/A	N/A	N/A	2018 Jaguar XF 2.0D ($55,255)	N/A	2017 Jaguar XF 2.0D ($47,964)	2017 Jaguar 2.0D ($42,000)	2017 Jaguar 2.0D ($38,245)	N/A	2016 Jaguar XF 35T Premium ($54,245)	2016 Jaguar XF 3.5T Prestige ($54,700)	2016 Jaguar XF Premium ($55,091)	N/A	N/A	2015 Jaguar XF 2.0T Premium ($49,974)	2015 Jaguar XF 2.0T Premium ($47,625)	N/A	N/A
	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	2017 Mitsubishi Lancer ES 5MT ($18,482)	N/A	N/A	N/A	N/A	N/A	N/A	2015 Mitsubishi Lancer GT ($17,320)	N/A	2015 Mitsubishi Lancer ES 5MT ($20,905)	N/A
	N/A	2019 Mercedes-Benz E300 ($56,615)	N/A	2018 Mercedes-Benz E300 ($52,501)	2018 Mercedes-Benz E300 ($54,965)	2018 Mercedes-Benz E300 ($52,500)	2018 Mercedes-Benz E300 ($52,265)	2017 Mercedes-Benz E300 ($51,445)	2017 Mercedes-Benz E300 ($50,245)	2017 Mercedes-Benz E300 ($52,585)	2017 Mercedes-Benz E300 Sedan ($49,750)	2016 Mercedes-Benz E350 Sedan ($48,416)	2016 Mercedes-Benz E350 Sedan ($52,282)	2016 Mercedes-Benz E350 Sedan ($52,256)	N/A	2015 Mercedes-Benz C-Class Sedan ($50,106)	N/A	2015 Mercedes-Benz E250 Blue TEC Sedan ($55,100)	2015 Mercedes-Benz E250 Blue TEC Sedan ($53,835)	2014 Mercedes-Benz C-Class Sedan ($39,286)
	2019 Cadillac CTS Sedan ($45,240)	N/A	N/A	N/A	N/A	2018 Cadillac ATS Coupe ($44,954)	N/A	2017 Cadillac ATS Sedan ($33,560)	N/A	N/A	N/A	2016 Cadillac ATS Sedan RWD 2.5L Standard ($28,700)	N/A	2016 Cadillac ATS Sedan RWD 2.5L Standard ($43,800)	2016 Cadillac ATS Sedan RWD 2.5L Standard ($36,010)	2015 Cadillac ATS Sedan RWD 2.5L Standard ($30,132)	2015 Cadillac ATS Sedan RWD 2.5L Standard ($35,018)	N/A	N/A	N/A
	N/A	2019 Buick Lacrosse ($35,988)	N/A	2019 Buick Lacrosse FWD Avenir ($45,648)	N/A	2018 Buick Lacrosse FWD ($33,595)	2018 Buick Lacrosse FWD ($40,754)	N/A	N/A	2017 Buick Lacrosse FWD ($35,099)	N/A	N/A	2016 Buick LaCrosse ($34,418)	2016 Buick LaCrosse ($39,310)	N/A	2015 Buick LaCrosse ($42,100)	N/A	N/A	2015 Buick LaCrosse ($29,665)	2014 Buick LaCrosse ($33,409)
	N/A	2019 Lexus ES 350 ($38,356)	N/A	2018 Lexus ES 350 ($33,032)	N/A	2018 Lexus ES 350 ($35,911)	N/A	2017 Lexus ES 350 ($33,875)	N/A	2017 Lexus ES 350 ($41,821)	N/A	2016 Lexus ES 300 ($36,868)	2016 Lexus ES 300 ($38,222)	2016 Lexus ES 300 ($36,115)	2016 Lexus ES 300 ($42,057)	2015 Lexus ES 300 ($35,940)	N/A	N/A	N/A	2014 Lexus ES 300 ($42,957)
	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	2016 Scion TC Automatic ($21,662)	2016 Scion TC Manual ($19,364)	N/A	N/A	N/A	N/A	N/A	N/A	2014 Scion tC ($20,909)

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