Online Car Buyers Feel Leasing Riskier than Buying
According to a new and exclusive survey from automotive consumer advice web site BuyingAdvice.com, 71 percent of online car buyers said that they regard leasing as riskier than buying a car.
(PRWEB) August 13, 2007 -- According to a new and exclusive survey from automotive consumer advice web site BuyingAdvice.com (http://www.buyingadvice.com), 71 percent of online car buyers said that they regard leasing as riskier than buying a car.
Despite the increasing numbers of consumers leasing cars, over 40 percent of the sample said they felt inadequately informed when it comes to deciding whether to lease or buy a new vehicle.
The survey was taken among 1193 users of BuyingAdvice.com (http://www.buyingadvice.com), a consumer advice and price quote web site. Participants stated they were within 30 days of buying a new car.
BuyingAdvice.com experts say the risks of leasing are primarily associated with the inflexibility of the contract in the face of changes in life circumstances of the buyer.
A lease is essentially a long-term rental agreement and is primarily useful for those who want to drive a new car every two or three years, drive a very predictable number of miles each annually and are in a very stable financial position, say the experts.
If the consumer's driving pattern changes during the period of the lease they can face steep penalties for excess mileage at the end of the contract. Also, they also do not have the option to sell the car during the lease period if they hit unexpected financial challenges.
Seventy-five percent of those who agreed to participate stated that they had never leased a car and 64 percent said that they did not think there were any advantages in leasing rather than buying.
The survey is the latest in a series of studies conducted by the web site which together form a detailed database of current consumer attitudes and behavior.
BuyingAdvice.com (http://www.buyingadvice.com) is a consumer advice and Internet price quote site that features tips and advice for car buyers, new car reviews and the latest news and information from the automotive world. BuyingAdvice.com supplies over 50,000 competitive price quotes to consumers each month.
For further information on BuyingAdvice.com or the leasing survey please contact: Pam Sullivan at 1-888-343-3906 ext. 712 or pam@buyingadvice.com.
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