DEMAND for low initial rentals on a two year lease from brokers have doubled in six months.
The broker lease advertising website, Leasing.com, has unearthed the trend, saying that enquiries on a one-month initial payment were up 98% year on year.
The requirement for low outlay and reduced rental length exposure is perhaps not surprising given the uncertainty facing many consumers at the moment.
However, consumer apetite for leasing continues to grow. Leasing.com said that three-year deal enquiries were up 80%, and four-year deal enquiries were up 114% over the same period in 2019.
Our advertising partners have seen a dramatic rise in enquiries via our marketplace on low initial payment lease deals since the lockdown was announced on 23 March. During these difficult times, many consumers are reviewing their outgoings and trying to maintain their savings for the months ahead.Paul Harrison, head of strategic partners, Leasing.com
Harrison said that, despite consumers being wary of parting with too much cash immediately, premium cars remained in demand, with the Volvo XC40 topping its personal lease charts in September.
“We’re investing in a number of website changes that will help consumers and our advertising partners respond to these changing market trends.”
Automotive and fleet writer for Broker News