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States in the Northeast had the highest penetration of leases in 2014. New Jersey, New York, and Michigan led the states, each with leases accounting for about 47 percent of all new light vehicle transactions. These top three states were followed by Rhode Island, Connecticut, Massachusetts, and Ohio, all with leasing rates over 30%. In general, the southern states in the mid-section of the U.S. had the lowest percentages of lease transactions with Oklahoma the lowest at just 1%.

Leasing Penetration by State, 2014

Map of the U.S. showing leasing penetration in 2014 by state.

Fact #886 Dataset

Supporting Information

New Light-Vehicle Leasing Penetration for 2014
State Percent
Alabama 8.7%
Alaska 3.6%
Arizona 11.7%
Arkansas 2.3%
California 28.6%
Colorado 18.7%
Connecticut 37.1%
Delaware 17.6%
District of Columbia 12.6%
Florida 26.0%
Georgia 11.1%
Hawaii 12.5%
Idaho 13.6%
Illinois 14.5%
Indiana 23.1%
Iowa 14.6%
Kansas 11.3%
Kentucky 15.5%
Louisiana 9.6%
Maine 24.3%
Maryland 11.5%
Massachusetts 31.5%
Michigan 47.5%
Minnesota 23.4%
Mississippi 6.6%
Missouri 10.1%
Montana 13.2%
Nebraska 22.1%
Nevada 18.9%
New Hampshire 28.2%
New Jersey 47.6%
New Mexico 6.0%
New York 46.7%
North Carolina 13.6%
North Dakota 17.5%
Ohio 32.8%
Oklahoma 1.0%
Oregon 12.4%
Pennsylvania 27.1%
Rhode Island 40.2%
South Carolina 10.9%
South Dakota 20.9%
Tennessee 8.2%
Texas 9.3%
Utah 18.2%
Vermont 31.9%
Virginia 10.6%
Washington 16.1%
West Virginia 7.2%
Wisconsin 22.1%
Wyoming 7.7%
Source: Automotive News, "How high can leasing go?", June 8, 2015, Jim Henry, Site accessed July 7, 2015. Website

 

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