Dealers Poised to Attract More Car Shoppers Through's Price Promise(sm) with Lease Offers

Jan 22, 2014, 12:16 ET from

SANTA MONICA, Calif., Jan. 22, 2014 /PRNewswire/ -- Car dealers now have an easy and powerful new way to connect with the growing segment of shoppers looking to lease a new car, thanks to a convenient new feature from, the premier destination for car shopping.


Starting today, dealers will make it easier for car shoppers to review the leasing terms of any new car or truck through's Price Promise(sm). Participating dealers can easily set a promised down payment, deposit, term and annual mileage for a lease on any of their new cars posted to's inventory listings. The resulting monthly lease payment is displayed next to the vehicle's upfront purchase price on Price Promise(sm) certificates. Shoppers can download and print the certificates to lock in the guaranteed price that they can use to either lease or purchase the vehicle at the dealership.

"Price Promise made it easier to buy a new car, and now it's making it just as easy to lease a new car," says President Seth Berkowitz.  "Car shoppers are opting to lease vehicles now more than ever and there's every reason to expect this trend to continue to grow. Dealers can attract more of these shoppers right now by showcasing guaranteed upfront lease offers through Price Promise."

According to's transaction data, a record 26 percent of new car shoppers chose to lease instead of purchase their vehicle in 2013. The rate has increased sharply from a decade ago, when only 16 percent of all new car shoppers leased a new car or truck. Lease penetration is especially high among luxury brands. For several popular luxury models, more than half of all new transactions are leases.

"Since adding lease offers to our Price Promise program, we are seeing an increase in qualified shoppers," says Toni-Marie DiMassimo, business development manager at Curry Honda in New York, which successfully participated in an early pilot program. "The shoppers coming in our doors are real buyers, and not just tire kickers."

Since Price Promise(sm) launched in 2013, has found that both dealers and shoppers benefit from the program. When Price Promise(sm) certificates are used, dealers close sales at higher rates, and buyers are far more satisfied with their shopping experience. Dealers who have signed up for Price Promise(sm) have seen about a ten percent increase in their online review scores. is the only third-party car shopping site to feature upfront, inventory-specific lease offers that are set by dealers. Only dealers enrolled in the Promise Program(sm) are eligible to promote Price Promise(sm) with lease offers. Dealerships interested in becoming a Promise Partner(sm) can contact 1-855-EDMUNDS or

About, Inc. is a car-shopping Web site driven to make car buying easy. Almost 18 million visitors use our shopping tools every month to connect with over 9,500 dealer franchises across the U.S.  Shoppers can browse our inventory listings for available cars and trucks, and with's Price Promise(SM), they can get an instant, upfront price on those same vehicles. Recently named by Maritz Research as one of the most trusted online consumer review sites - and the only automotive site listed in the top ten - is also home to comprehensive car reviews, shopping tips, photos, videos and feature stories. Even when you're at the dealership, we're always by your side. Just call our free Live Advice Line at 1-855-782-4711 or use our acclaimed iPhone and iPad apps or Android App. We're based in Santa Monica, Calif., but you can connect with us from anywhere by following @Edmunds on Twitter or by becoming a fan of on Facebook. You can also find us on Instagram, Google+, Pinterest, LinkedIn and Flipboard.

Jeannine Fallon/Aaron Lewis/Stephanie Mar Corporate Communications
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