Swapalease Survey Lists Top 10 Reasons Drivers Exit a Lease
Dealers probably have heard concern from customers about mileage constraints being one of the biggest drawbacks when leasing a new vehicle.
However, a recent national leasing survey from Swapalease.com showed those concerns appear to be diminishing significantly. In fact, apprehension about mileage allowances ranked seventh out of 10 for today's top reasons why people want out of their vehicle lease.
Site officials recapped that thousands of drivers across the country had the chance to rank the top reasons why they want out of a vehicle lease, and the top reasons saw a big shift compared to a similar survey in 2008. Swapalease.com processes thousands of requests each year from people looking to escape their current lease for a number of reasons.
The No. 1 reason drivers want out of their lease today is that they no longer need their vehicle because of reasons such as relocation, they received a company vehicle or a family member is now deceased.
The condition of no longer needing the vehicle replaced financial concerns, which was the top reason back in 2008 but slipped to second on today’s list.
Swapalease.com pointed out that fear of gas prices also scored surprisingly low on today’s list of concerns, ranking eighth.
“In 2008, gas prices ranked sixth when the national average of gas was near $4 a gallon," said Scot Hall, executive vice president of Swapalease.com.
“We just saw a summer of repeated gas-price increases yet these price spikes do not seem to be negatively impacting people and their driving habits,” Hall continued.
Overall lifestyle changes such as a growing family or new job status ranked fourth in the most recent poll, compared to 2008 when it ranked second on drivers' list of concerns.
Possibly due to the rapidly improving features and in-vehicle technology found in cars from year to year, people listed "dislike present vehicle" as the fifth most popular reason, up from eighth in 2008.
The following shows the top 10 reasons why drivers want out of their lease based on Swapalease.com survey from this year and 2008:
Reasons in 2012
1. No Longer Need Vehicle
2. Financial Concerns
3. Want A New Car
4. Lifestyle Changes
5. Dislike Present Vehicle
6. Family Size
7. Mileage Concerns
8. Gas Prices
9. Insurance Costs
10. Maintenance
Reasons in 2008
1. Financial Concerns
2. Lifestyle Changes
3. Want A New Car
4. Mileage Concerns
5. No Longer Need Vehicle
6. Gas Prices
7. Family Size
8. Dislike Present Vehicle
9. Insurance Costs
10. Maintenance