12/21/2015

Amazon Adds Online Car Leasing in Japan

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Japanese financial services giant Orix Corp. is leasing new vehicles online in Japan through the country's Amazon.com affiliate.

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Japanese financial services giant Orix Corp. is leasing new vehicles online in Japan through the country's Amazon.com affiliate.

The service began today with 17 domestic models, including the Toyota Prius hybrid. Orix Auto plans to expand its offerings in April to include virtually all vehicles offered in the country by Japanese producers, according to The Nikkei.

Customers must be screened by Orix Auto to qualify for leases ranging between seven and nine years, the newspaper says. Delivery will occur within two months of a deal. Typical monthly payments would be less than 30,000 yen ($245) for a vehicle that retails for 2 million yen ($16,400).

Leasing in Japan accounts for only about 2% of all new-car transactions with individual buyers, The Nikkei notes. Orix expects to initially sign about 50 contracts per month for new cars. The company also will lease used vehicles.