The automotive market is struggling to get back to the pace it had a few years ago and the automakers are constantly trying new approaches to connect with new potential customers. Nissan now expands its lease program with the addition of the so-called SignatureFLEX product, which offers customers a 5,000-mile annual lease deal. The program was developed by Nissan Motor Acceptance and is currently available for three of the company’s high-riding models.
The SignatureFLEX starts with the Rogue, Rogue Sport, and Pathfinder in the United States, but more Nissan models are expected to be added early next year. The 5,000-mile threshold can be changed to more miles if the customer needs them throughout the entire life of the contract, Automotive News reports. With the high gas prices and the home office trend, it’s getting more difficult for consumers to predict their driving needs for the next three years when they start a lease.
Last year, Nissan launched a 10,000-mile-per-year lease program, which quickly became the most popular contract among new customers. In 2020, the Japanese firm also had a 12,000-mile lease, which accounted for about 67 percent of new-car leases for that year. Now, Nissan sees huge potential in an even lower mileage lease deal after analyses of customer data from Nissan Motor Acceptance.
NMAC is currently training its dealership employees to help customers decide whether the new 5,000-mile lease program is the right option for them. Jim DeTrude, vice president of NMAC sales and marketing, told Automotive News the brand’s dealers are reporting their customers want lower-mileage options and that motivated the company to launch the new SignatureFLEX program.
"I'd rather the term align with their driving habits and not where they're actually incurring additional expense versus drafting the lease initially at a 10,000- or 12,000-mile term that better fits their needs," De Trude told the publication. "It is a great option for someone that doesn't need as many miles but also wants the flexibility during the lease period rather than at lease end."