Swapalease: Consumers Leaning Toward New Rides Amid High Gas Prices
In light of surging gas prices, Swapalease.com surveyed consumers about how they plan to respond to the “wallop to their wallets.” What the website found is that “an overwhelming” amount are considering buying or leasing a more fuel-friendly ride.
In fact, more than three-quarters of the respondents (77 percent) say they are thinking about buying a new ride to achieve better gas mileage, and about half (49 percent) of those consumers are looking toward a “newer” model-year unit.
A third of the group is looking into buying a hybrid, and the remainder plan on switching out to a smaller vehicle, Swapalease said.
“The survey confirmed exactly what we expected," said Scot Hall, executive vice president of operations, at Swapalease.com. “Gas prices are forcing drivers to look at their options — when it costs $75 every time you fill your tank, it adds up quickly.
Swapalease shared some additional findings, noting that close to 60 percent of respondents claim they will alter driving habits/travel plans for the summer. The site found consumers are “evenly split on making up the budget deficit by spending less at the mall, dining out less and cutting back on entertainment.”
Looking forward, more than three-quarters of respondents expect fuel costs to either remain on the upswing or stay volatile.