Fredintexas

By the mid-90’s new-car buying had slowed down, mainly because few families could pre-qualify for their new-car no cash-down and/or extended-loan automobile purchases. Meanwhile, new cars were getting very expensive to buy, outright! Even, new-car trade-ins yielded little or no cash to their previous owners when returned to the dealers.
Since, fewer new-car buyers were capable of buying “entire cars” with their current credit ratings, leasing become their only alternative to “drive” new cars, again. To make leasing attractive, though, auto manufacturers and new-car dealers had to spend millions of advertising-dollars to convince the public leasing was really okay. But for many, leasing wasn’t okay, nor was it any “cure” to their new-car-buying woes. By the time the 90’s arrived, the average financing terms on new-car loans, extended to six and seven years.
With such extended-loan terms, many new-car buyers discovered, too late, that many “make and model” cars don’t last that long on the road. In fact, many consumers are still making their monthly-payments on cars no-longer running. Since, auto manufacturers must sell their new-car products, somehow, leasing became their only alternative to “push” expensive new automobiles back into the marketplace.