Recently, Millennials have been taking the automotive industry by storm. These young adults are beginning to view car leasing as the new form of car buying. Salon.com claims that according to the latest data from automakers, over 34% of Millennials chose to lease a vehicle as opposed to buy one this year alone. This is a percentage higher than any other age group. The site also shows that the Millennials have put a major push onto car leasing, causing the total number of leases for the first half of 2016 to reach 2.2 million. But why are we mainly seeing this shift in the younger generation?
Well, according to Salon, most Millennials are not really into anything involving long-term commitments. For example, they are delaying marriage and hopping around from job to job more than any other generation that preceded them. Another reason why Millennials are so into leasing is because of the significant price difference in comparison to purchasing a car. Nowadays, young adults are not earning high enough wages to be able to completely finance a car all on their own.
Additionally, this younger age group is more into staying up to date with the latest technology, another reason why they prefer leasing a vehicle. With this short term commitment, Millennials are given the opportunity to experiment all of the newest car features, without the worry of what to do with the car that they purchased.
If you’re one of these Millennials that is more interested in leasing a car than buying one, check out Swapalease.com where you have the ability to take over the remainder of somebody else’s lease anywhere across the United States. For more information on finding the best car lease deals or to learn how you can have a successful car lease trade, visit Swapalease.com or contact them at 866-SWAPNOW.