CINCINNATI -

It is clear that leasing is becoming more and more popular, as many recent reports would suggest, but one finding from Swapalease.com, in particular, could be quite important for the leasing community to consider: many women may not return to leasing when they go to find their next vehicle.

Why?

To answer the question, Swapalease conducted a survey and found that many women don't like the lack of equity in a lease scenario, and getting a good deal is the most frustrating part of leasing for them.

The survey asked more than 1,000 drivers a wide array of questions about the leasing process, and these general trends arose:

1. Many women aren’t familiar with lease transfer.

2: Women are looking for shorter lease commitments.

3: Women have lower down payments.

4: Women may not return to leasing.

5: Credit applications and lack of equity frustrate women lease shoppers.

The following are exact results of the survey questions and commentary from Swapalease.com analysts:

Did you know that vehicle leases are transferrable to others?
Answer   Men Women
 Yes for all makes  25.3%  7.8%
 Yes for some makes  28.8%  22.8%
 Did not know  45.7%  69.3%
How important is it that your vehicle lease is transferrable?
Answer Men Women
 Extremely important  3.5%   5.2%
 Very important  5.7%  1.7%
 Important   15.5%  9.6%
 Slightly important  20.0%  12.2%
 Not important  39.5%  38.6%
 Did not know  15.5%  32.4%
Do you know if your vehicle lease in transferable?
Answer Men Women
 Yes  27.5%  14.0%
 No  34.6%  31.5%
 Did not know  37.7%  54.3%

Swapalease.com Analysis: Lease transfer is something that is not promoted at the dealership, nor by the lease company. This barrier to exposure limits the full experience possible for leasing a vehicle, one that has been proven to enhance the overall experience. It is our belief that more women would consider leasing if they fully knew of the option to transfer and all the benefits that are presented through the lease transfer experience either as a buyer or seller.

What is the ideal term for a vehicle lease?
Term Men Women
 12 months or less   0.4%  1.7%
 18 months  2.2%  2.6%
 24 months  24.4%  27.1%
 36 months  65.7%  63.1%
Which of the following apply to you?
Reason Men Women
 Want out of my lease early  10.6%  20.1%
 Tired of driving my lease  6.2%  11.4%
 Want a newer lease now  16.0%  16.6%
 Lease no longer fits lifestyle  8.0%  12.1%
 Cost of current lease too much  14.2%  17.5%

Swapalease.com Analysis: According to this data, a larger percentage of women drivers would prefer lease terms that are 24 months or less, compared with the majority of men who indicated a stronger interest in longer terms such as 36 months. Additionally, a larger percentage of women indicated they get bored with their lease earlier than men, which may indicate a stronger desire to drive different vehicles even more frequently. As a side note, this percentage may be even higher assuming more women were familiar with the concept of lease transfer.

How much money, in total, did you put down when you got your leased vehicle?
Total Men Women
 $0-$500  33.8%  42.9%
 $500-$1000  14.2%  12.3%
 $1000-$3000  34.0%  35.0%

Swapalease.com Analysis: In a possible sign of savvy consumerism, a higher percentage of women indicated they put less money down on a lease, sometimes even no money. This tells us that zero-down lease deals may appeal stronger to women during the shopping process.

How likely are you to lease your next vehicle after your current lease expires?
Likelihood  Men Women
 Definitely  29.7%  28.0%
 Probably  34.2%  24.5%
 Maybe  25.7%  33.3%
 Probably Not  6.2%  10.5%
What is the most frustrating part of negotiating a vehicle lease?
Reason Men Women
 Mileage Requirements  21.3%  17.5%
 Understanding Taxes  4.8%  3.5%
 Lease Language  22.6%  11.4%
 Getting A Deal   40.4%  37.7%
 Paperwork  16.8%  14.9%
 Credit Approval  2.6%   6.1%
 Car Salesperson  23.5%  24.5%
 Confusing Process  10.2%  6.1%
 No Equity  13.3%  21.9%
 Lease Return  15.1%  13.1%
 Payment Negotiation  25.7%  21.9%

Swapalease.com Analysis: A larger percentage of women say they are not likely to lease the vehicle that follows their current lease. Women indicate that the credit approval process is more frustrating than men, yet this takes place at the time of purchase. Secondly, more women indicated a frustration with not having any ownership stake in the vehicle during the lease process, which may be a larger indicator of their low desire to lease their next vehicle. What’s interesting here is that this is counter to earlier insight showing women as being more interested in driving a different vehicle more frequently, a popular benefit to leasing.