外文翻译---正在改变汽车金融的三大趋势-汽车设计(编辑修改稿)

外文翻译---正在改变汽车金融的三大趋势-汽车设计(编辑修改稿)内容摘要：

prices of new cars being relatively high in relation to disposable ine and spending power, having a new car to drive can still be a viable option, using a different method. Among other things, the new Regulation M does the following: It adopts the recognized industry .term capitalized cost, which must be disclosed to the lessee as the price used to calculate monthly lease payments. This aids the customer in paring the cost of leasing to financing a purchase. It requires lessors to clearly spell out penalties for earlylease termination. It requires disclosure of the total of payments, which is the total amount the lessee will have paid by the end of the lease. This makes it easier for consumers to priceshop like vehicles with like lease terms. Lease advertising must give prominence to all key fees, not play one figure prominently and hide the rest in the fine print. The regulation is silent on the issue of disclosing an annual lease rate. As to the latter, different lessors calculate the annual rate differently. Some are advocating a uniform standard to be adopted voluntarily by all lessors nationwide. In some quarters, the feeling is that leasing has grown so big so quickly, there might be some bumps in the road ahead. The first large cohort of vehicles on three, four and fiveyear leases is due to be ing off lease by the middle of this year, and the likely price effects in the marketplace are a matter for speculation. In one case, a manufacturer of highend vehicles has let it be known that it will buy back vehicles of its own make rather than see dealers turn large numbers of vehicles that e off lease over to auctions. While some temporary supplydemand imbalance may occur, it seems unlikely that it would be of magnitude to cause a severe glut, with wrenching effects. For one thing, lessors can and do purchase residual value insurance。 this is coverage that offers two kinds of protection: (a) against the risk of residuals ing in above actual market values at the end of the lease。 (b) against the risk that a vehicle ing off lease is unsalable. Still, the ing year promises to be an eyeopening one in four major areas: How great is the public39。 s appetite to convert from lease to purchase at the end of the lease terms? What efforts will dealers/lessors make to influence the choice in the direction of conversion? How great is the public39。 s appetite for leasing used cars? What proportion of vehicles ing off lease will wind up on the usedcar market? If the experience of recent years with smaller cohorts of vehicles ing off lease is anything to go by, between 25% and onethird of them are returned to the lessors. Whether that figure remains about the same, goes up or goes down, is the big question. Faced with this uncertainty, many banks are sourcingoffloadinglegal and residual risk to a third party. What is undeniable is that the public39。 s appetite for leasing is growing strongly, and that appetite shows signs of moving from concentration on highend or luxury vehicles alone to a wider spectrum. SUPERSTORES: TREND OR FAD? Whatever the answers to the above questions, a certain number of leased vehicl。