- Young drivers could save with new car leasing
- Brokers have an interesting new business opportunity
- Research from leasing deal aggregator Leasing.com
YOUNG drivers could save a fortune with new car leasing instead of buying an old banger – and brokers are being encouraged to explore what could be a lucrative new business opportunity.
Research by car leasing comparison site Leasing.com has found that leasing a new car is a much more cost-effective alternative to buying secondhand, with cheaper running costs to boot.
Adding to the appeal, young and newly-qualified drivers also get to enjoy a factory-fresh car for the start of their motoring journey – with all the safety and eco-friendly benefits that brings. Throw in better reliability and the appeal is obvious.
Yet many younger drivers may not realise just how affordable new car leasing can be. For leasing brokers, it presents a huge opportunity to secure new business from a lucrative new sector, particularly as soaring secondhand car prices mean used cars are increasingly unobtainable.
Many new car leasing deals are available for low initial outlays, often less than £1,000, with monthly costs all mapped out to driving habits at the start of the deal. Such figures are perfect for cash-strapped youngsters.
Headline-grabbing savings
The savings can be significant. Leasing a new Vauxhall Corsa could work out a staggering £10,000 cheaper than buying outright. Customers won’t have to worry about VED costs, wear and tear, breakdown assistance and other add-ons, either.
Brokers can also offer add-on maintenance packages, delivering further peace of mind to younger drivers.
The fuel-sipping engines of new cars will give youngsters more money in the bank month-to-month, while parents will be able to sleep easier knowing their son or daughter is behind the wheel of a car with the latest safety features and gadgetry.
There’s an extra, often-overlooked benefit of leasing a new car for younger drivers, too: it helps boost their credit scores. If budgeted and paid on time, youngsters can start building that all-important credit score, potentially giving them savings in other areas of their life.
As the cost of living crisis continues, it may well be to start reaching out to younger drivers with your broker marketing campaigns.
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Richard Aucock runs the Motoring Research automotive writing agency. A highly regarded journalist, Richard is also Chairman of the Guild of Motoring Writers, a World Car Awards juror, UK judge for AUTOBEST and editor of Auto Retail Agenda.
