According to the experts at the National Vehicle Leasing Association, leasing is not dead. In fact, there is an opportunity to capitalize on the gap in the market that exists now that some major banks and the Big Three auto manufacturers have retreated from leasing.

Headlines in every major publication heralded this news, amongst other dismal economic data. The front page of the Wall Street Journal read �Chrysler Retreats on Leases.� Interestingly, the subheadline said �Move Could Dent Sales Further.� This raises an interesting point, one that the manufacturers are hoping won�t play out the way the NVLA believes it will. This stems from the simple fact that not everyone will want to sign up for a 72-month purchase finance in order to make their monthly payments affordable.

The past eighteen months have been an incredible experience for my wife (known to many people in the industry as Laura Blessing, now Laura Shivers) and I. We kept ourselves very busy travelling and pursuing activities that we had long dreamed of, but never had the time for. Yet, one day you wake up and realize that there is too much that can be accomplished at the prime of one’s life. So we have spent many hours planning the next phase of our professional lives.

But, alas, that question was just a headline on a news release from the National Vehicle Leasing Association. The organization, which represents the leasing industry, was responding to news that some auto manufacturers are drastically scaling back their leasing business because it isn’t so lucrative anymore.

GMAC Financial Services, the lending arm for General Motors, reported a net loss in its auto finance business of $717 million in the second quarter of 2008 in part because of weaker performance in its leasing operation. The company said a sharp decline in lease demand and in used vehicle sale prices for sport-utility vehicles and trucks in the U.S. and Canada were to blame.

In the US, the leasing of second-hand cars has grown to almost 250,000 vehicles. Five years ago, according to America’s National Automobile Dealers Association, leasing was virtually restricted to new cars.

Most customers who lease second-hand cars do so for private use rather than for business purposes. The trend is particularly marked among women, who apparently see leasing as a means of obtaining a better car than they can afford to buy.

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