Why Americans are still buying cars, renting out their homes, and leaving their homes in droves
— Americans are taking on more and more cars and renting them out.
In the latest data, owners of new or used cars sold by leasing companies in the state reported an average of 2,711 vehicles sold, up from 1,611 vehicles in 2016, according to the state Department of Transportation.
The average number of vehicles leased out was 2,972, up slightly from 2,895 vehicles in 2017.
In 2017, leasing companies leased 3,038 vehicles in Montana.
The median lease amount for all lease transactions in the first quarter of 2018 was $1,000, up $10 from last year.
This was the fifth consecutive quarter of growth for leasing companies, the highest monthly increase in leasing activity since 2006.
The Montana Department of Finance said in a statement that leasing companies reported a $6.4 million increase in business last quarter, a 9.2 percent increase over the previous year.
It said the growth was fueled by leasing deals signed by more than 10,000 Montana residents.
The numbers were down from the prior year, when leasing companies saw a 20 percent increase in sales.
Last year, Montana had a total of 14,500 leased vehicles.
The state’s new regulations require all leasing companies to have at least one employee and that all leased vehicles be registered and maintained by the state.
“As more and a larger percentage of the state’s economy relies on vehicle ownership and mobility, Montana is a good place to start and a good fit for leasing and rental companies,” state Sen. Bill Kuehl, a Democrat from Bozemen, said in the statement.
Montana is one of a handful of states with no sales tax, according the state, and the tax is paid by owners of vehicles purchased.
It is one reason many owners of small- and medium-sized vehicles have leased their vehicles.
In 2016, nearly 80 percent of owners of leased vehicles were in Montana, according a Montana Department, Finance and Taxation report.
A Montana Department spokesman said the state does not collect sales tax on the cost of leasing a vehicle.
“In Montana, the sale of vehicles is a private transaction and there is no state sales tax,” spokesman Matt Lacey said in an email.
In 2017, about 6 percent of leasing company customers leased vehicles, the largest percentage in the nation.
The number of leases per lease transaction is higher in Bozemans home of Bozeville, which had 5,932 vehicles leased in the quarter, compared with 6,715 in Boazette, which has 6,087 vehicles.
A Bozemaker spokeswoman said in response to questions that the company has not seen a spike in sales of leased cars, noting that leasing rates have risen since the beginning of 2018.
“We are seeing more and different options to lease our vehicles.
We are still offering leasing at all prices, but the leasing options are more in-house-based and more flexible than they were,” she said.
Read more: Car rental company: We want you to be a customer first, and we can make sure you get the best deal possible in Bozanec, Mont., February 17, 2018At Bozeme, the number of leased automobiles is down nearly 5 percent from last month.
In Boziston, the company said it saw an increase in the number and number of car rentals.
Drivers are looking for other ways to get around Bozema.
The city of Boze, in the western part of Montana, is the only place in the country with no parking for commercial vehicles, according an article in the Bozewell Daily Herald newspaper.
The Bozecanoes mayor, Brian Loy, told the newspaper that the city is struggling to get people out and about, as they are unable to find parking spaces.
The town has no car rental company and no parking, Loy said.
“If there was a parking lot nearby, we would have an opportunity to put a car there,” he said.