Editorial Feature: NVLA Fights to Include Leasing in Cash for Clunkers Bill

ALEXANDRIA, VA, May 18 (MARKET WIRE) --
The current wording of the Cash for Clunkers Bill, H.R. 1550, does not
provide any cash incentive to potential consumers or fleet lessees of
light vehicles who choose to lease their vehicle purchase.

NVLA (National Vehicle Leasing Association) recently sent this letter to
the House Energy and Commerce Committee for consideration in the wording
of H.R. 1550. We ask that you use similar wording when writing your
Representative:

Dear Sir/Madame:

Leasing has been an integral part of the automotive business for 40
years. Inherent to leasing is a trade cycle that is two to three years
shorter than the average time an owner keeps a car. This puts more new
cars on the road faster and creates employment. The failure to include
leasing in this bill will only undermine its potential impact.

Some leasing facts:

1. Dealers are three times as likely to get the client back because in
many cases they return their lease cars to the selling dealers at lease
end. This provides a chance to put them into a new, more efficient,
cleaner operating vehicle sooner than if they'd purchased the car. 2.
Lease returns provide another profit center for manufacturers because
they can sell them at auction to the highest bidder. 3. Dealers need help
in obtaining late model vehicles to sell. Rental fleets have curtailed
purchases and are holding cars longer, giving dealers less opportunity to
remarket vehicles and provide meaningful employment. 4. The lower lease
payment addresses the population driving older, less fuel efficient cars,
those that may not be able to afford a new car at all without the lease
option.

Please ensure that H.R 1550 is reworded to include leasing so that our
stimulus efforts are the most effective they can be.

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