CAR SHOPPING SURVEY REVEALS CHANGING
LEASE PREFERENCES
Swapalease.com Survey: Fewer Miles Needed; No Test Drives; More Inspections
CINCINNATI, OHIO – (January 23, 2013) –
Swapalease.com, the world’s largest automotive lease marketplace, reveals survey
results that show changing trends among consumers shopping for a lease. Among
the highlights, roughly a quarter of people seek leases with less than 12,000
miles per year; more than half would bypass a physical test drive; and nearly
half obtain car insurance coverage greater than what’s required.
How many
miles do you plan to use with your lease?
Mileage is a key element when shopping for any lease. Traditionally, leasing
drivers opted for either 15,000 or 12,000 miles per year. According to the
survey results, however, roughly a quarter of respondents indicated they are
looking for less than 12,000 miles each year.
10.7%
7,500 miles per year
14.1%
10,000 miles per year
27.2%
12,000 miles per year
20.9%
15,000 miles per year
12.6%
More than 15,000 miles per year
How much
money did you put down on your last vehicle lease deal? One benefit of leasing is that people can get more car
for their money. Using Volkswagen’s “Sign Then Drive” lease campaign as an
example, lease shoppers are looking for more lease deals with $0 down.
49.7%
$0 down
2.5%
$500 down
9.5%
$1,000 down
10.1%
$1,500 down
28.1%
$2,000 down
Would
you consider bypassing a test drive when shopping for a lease? With the growing prevalence of online shopping, is it
more common to lease a car without ever sitting in the driver’s seat first?
58.4%
Yes
39.1%
No
2.5%
Other
What
type of insurance coverage would you carry on your leased vehicle? Insurance is another key element when shopping for a
lease, mainly because it is the bank’s vehicle, not the driver’s. How much
coverage are people carrying on their lease?
39.7%
Greater than required
50.0%
Required amount
2.9%
Least expensive amount
7.4%
Somewhere between least expensive and required
If you’re interested in assuming a lease on the
East Coast, are you more likely to get a vehicle inspection following Hurricane Sandy?
There were reports of widespread damage to roughly 230,000 cars and trucks
following Hurricane Sandy in late October. How much of an impact will this event
have on people looking to assume a lease or purchase a used car?
87.9%
Yes, I’m getting a vehicle inspection
12.1%
No, I’m not interested in a vehicle inspection
About
Swapalease.com
Headquartered in Cincinnati, Ohio, Swapalease.com is
the world’s largest automotive lease marketplace and the pioneer in facilitating
lease transfers online. More specifically Swapalease.com matches individuals who
want to get out of their lease with people who are looking for short-term lease
agreements. Prospective buyers can search the listings for the exact vehicle
they want, and then register for a nominal fee, allowing them to use
Swapalease.com’s safe online system to contact the prospective seller and close
the deal. For more information about Swapalease.com or how to exit your lease
early, call 866-SWAPNOW or visit
www.swapalease.com.
