THE lease deal comparison site, LeaseLoco, has revealed that Generation Z – those born from 1996-2010 and following on from millennials – are most safety conscious when it comes to cars.
The company surveyed 1,000 consumers that did not own a car and found that nearly half (49%) of 16 to 24-year-olds believe safety is an important factor when considering a car purchase, compared with only a third (37%) of baby boomers.
Nevertheless, price remains the biggest concern (56%), indicating the demand for deal tracking tools such as historical price tracker, says LeaseLoco.
The brand of the public’s dream car comes out as a very low priority, with only 14% considering it important. Safety (46%) and age of the car (29%) on the other hand were crucial to drivers at present.
LeaseLoco says that, considering these factors, consumers should consider leasing when it comes to their next vehicle. The company’s own data has found that car consumers can save more than £7,000 by choosing leasing over PCP contracts on a new vehicle.
The power of brand appears to be waning in the car industry; people want the best price, particularly at a time of such economic uncertainty. Not only that, but drivers are being practical when it comes to getting a car, considering factors like safety, age of the car, and maintenance costs. Leasing is an excellent option for consumers looking to satisfy these demands, and can save them significant amounts of money compared to buying through PCP contracts.
John Wilmot, CEO and founder, LeaseLoco
Automotive and fleet writer for Broker News
