Up until recently, financial motivations drove the behavior of car shoppers. Today, many consumers search for cars because of a constant desire for change, according to a new study.
According to outcomes of an online survey of more than one thousand drivers throughout the country, shoppers are viewing their car experience of the same vein as that from their cellular phone. Quite simply, people enjoy their car for about a year, then they’re ready for something different. Low monthly lease payments abound right now, so many drivers have become familiar with simply creating a similar payment month after month and periodically upgrading their ride, much like a mobile plan.
Whether it’s your car or perhaps your phone, most of us live in this new mobile mentality, said Scot Hall, executive v . p . of Swapalease.com, which conducted the analysis. Because consumers are getting to be accustomed to alteration of many parts of their lives, including theirresidence and wardrobe, career path and also the people we decide to spend our lives with – right now.””, And yes it doesn’t stop there””
Car leasing and the cellphone industry are getting to be very similar models. It has been driven by the recent recession and increasing inclusion of technology and connectivity in our vehicles. New forms of infotainment are added to our vehicles annually, and people tend to want the most recent stuff inside their ride. This attitude pertains to both older and younger shoppers.
It’s an easy task to say, ‘Here comes Generation X and Generation Y,’ although the recession experienced a huge effect on an older demographic, too, said Hall. These are the individuals who lost their houses and jobs. This has resulted in a want to change things up more regularly.
Hall says that the newest vehicle leasing is primed to become more popular, especially since lease pull-ahead programs and online services like Swapalease that allow men and women to easily get rid of their contracts early without repercussion are becoming increasingly available, because of society’s newfound fear of long-term commitment.
Indeed, easier credit got many more people opting for car leases a year ago. According to the Ny Times, leases accounted for 26 percent newest-car purchases in 2013, a growth of about ten percent in the years before the recession.
It’s very interesting to see how consumer preferences are changing, said Hall. Leasing definitely plays towards these new tastes.
Other interesting is a result of the survey include:
– Men (59.5%) and women (60.7%) would like to change their vehicles as often because they change their mobile phone
– In addition to change, men (42.%) and females (50.%) say the main reason to get a new vehicle is because it comes with a whole new warranty.
– Mercedes and BMW-Benz are the two brands women and men wish to change in to the most, while Chrysler and Dodge were the least likely targets for change.
– In terms of other change preferences, most women (28.2%) would like to change their job/career while most men (31.4%) would like to change where they live.