CARS.COM -- It's been widely reported that women make between 72 to 79 cents to every dollar a man. But is there a gender discrepancy when it comes to buying a new car? Yes, but it's not what you think.
Related: Study: Men Want Luxury Cars, Women Want Crossovers
A recent Swaplease.com analysis of car payments shows women often have lower monthly lease payments than men on similar vehicles. The nation's largest car lease marketplace polled about 2,500 people and discovered that many women spend less each month on their car payments.
According to the data collected, men pay a surprising 17 percent more for popular sedans like the Toyota Corolla S and Camry LE. In the SUV segment, men pay about 3 percent more for the Ford Explorer XLT and the Chevrolet Equinox. However, the study found that women, on average, pay 7 percent more for their luxury vehicles, such as the Lexus RX 350 and BMW 335i.
I spoke with Swapalease.com's Executive Vice President Scott Hall, who suggested that women do their research and walk into the process better prepared for the negotiation process. On the other hand, men, he said, may rely more on instinct as opposed to research and preparation, thereby putting themselves at a disadvantage.
A 2012 poll from LeaseTrader.com, another online lease-swapping site, confirmed Hall's suggestion and found that more than two-thirds of women do their due diligence and order a vehicle inspection during the negotiation process as opposed to only a bit more than half of men. Because of their preparation and research, Hall says that "women are actually getting the better deal on many of today's popular vehicles, lessening the gender gap in shopping for cars."
The moral of this tale seems to be that a little preparation can lead to sometimes significant savings when it comes to automotive shopping. Remember the old Scout motto, Be Prepared? That applies to both Girl Scouts and Boy Scouts, so use it! Click here for advice about dealership fees and negotiating tips.
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