How Popular is Car Leasing Now?

Car Leasing Growth

Car leasing has gained significant popularity in recent years as an alternative to traditional car ownership. With its flexible terms and lower monthly payments, leasing offers individuals and businesses an attractive option for accessing and driving vehicles.

This rise in popularity can be attributed to several factors, including the desire for affordability, the appeal of driving new vehicles, and the convenience of bundled maintenance and warranty coverage.

In this article, we highlight the shift from people buying vehicles to leasing them in recent years.

Statistics reveal that over 1.6 million people in the UK now lease a car, roughly this means that between 20% to 30% of new cars are leased in the UK, versus being purchased.

Over the past decade or so UK members have become more likely to lease a vehicle over buying one outright, this may be done personally, through your business, or even salary sacrifice which further reduces the price of leasing a vehicle through your company.

In the UK car leasing has soared and this is due to the flexibility, affordability and simplicity of this process compared to buying a vehicle. Some of the benefits of car leasing over purchasing include: Driving a top-of-the-range car with low monthly payments, and easy to upgrade after the leasing contract runs out as you can return the vehicle with ease.

In the UK economic factors have a huge role in how people spend their money, and since the pandemic people are more wary of spending big, this is another factor in why vehicle leasing has significantly risen in recent years.

Car leasing is like renting and is the alternative to buying, with leasing you're paying a monthly fee instead of an overall and expensive price for a vehicle.

An exercise that was at its most well-liked in the before time 1990s, car leasing has been believed of as an innovative, low-cost approach for human beings seeking all the advantages of a contemporary, high-end car without the hefty cost. It 1st evolved into broadly accessible in the 1940s, when essential automobile industries started proposing lease features for personalised and commerce cars.

Keeping in mind the reality that monthly payments are frequently between 30% and 60% of a vehicle’s worth, it’s simple to observe the price advantages of leasing a vehicle. The monthly payments are repaired, making your costs predictable and risk-free – you know what you’re subscribing for.



Electric Vehicle Leasing

EVs have risen in popularity as well and despite the cost-of-living crisis data shows a 32% increase in enquiries for electric vehicles in Q1 2023 compared to Q4 2022.

In addition according to stats the Electric Vehicle market in the United Kingdom is set to surge even further by 8.62% between 2024-2028.

More people are finding leasing an EV is a more attractive option as Electric vehicle technology is rapidly evolving, with new models and features being introduced regularly. Leasing allows individuals to stay up-to-date with the latest advancements in EV technology without the long-term commitment of ownership.

Leasing an electric vehicle also contributes to a cleaner and more sustainable environment, people are becoming more aware of the environment around them and more people are taking action to become eco-friendly, and leasing an EV instead of a petrol or diesel vehicle helps reduce greenhouse gas emissions and air pollution.

It's important to consider individual circumstances and preferences when deciding whether to lease an electric vehicle, as factors such as driving habits, financial situation, and availability of charging infrastructure may vary.

The decision of whether car leasing is a good idea ultimately depends on individual circumstances and preferences. Car leasing can be a good option for those who prioritise lower monthly payments, enjoy driving new vehicles, and prefer not to deal with the long-term commitment and depreciation associated with car ownership. 

Additionally, leasing often includes maintenance and warranty coverage, providing added convenience and peace of mind.

However, it's important to consider factors such as mileage restrictions, potential fees for excessive wear and tear, and the absence of ownership equity.

Ultimately, it is recommended to carefully evaluate your personal needs, financial situation, and preferences before deciding whether car leasing is a good idea for you. Consulting with a financial advisor or researching specific lease terms and conditions can also help in making an informed decision.



Top Leasing Deals

If you're looking to drive away in a luxurious and affordable car then check out our top 5 affordable DreamLease deals. We've got you covered with a wide range of cars so, don't miss out on these unbeatable leasing options!

Or if you would like to see some other options, then check out our lease offers and some important information on these cars. 

Nissan Leaf - The Nissan Leaf offers a range of features that make it an attractive option for those interested in electric vehicles. It has a spacious interior, comfortable seating, and a smooth and quiet ride.

The Leaf is equipped with a high-capacity battery that provides a decent driving range, allowing drivers to travel without worrying about frequent recharging. Additionally, the Leaf incorporates regenerative braking technology, which helps to extend its range by converting kinetic energy into electric energy during deceleration.

In terms of sustainability, the Nissan Leaf produces zero tailpipe emissions, contributing to a cleaner and greener environment.

Furthermore, the Nissan Leaf has received positive reviews for its safety features and reliability. It is equipped with advanced driver-assistance systems

MINI Countryman - The MINI Countryman is a compact crossover SUV produced by the British automotive brand MINI, which is owned by BMW.

It offers a combination of sporty design, practicality, and versatility. The Countryman is known for its distinctive MINI styling cues, including the iconic circular headlights and compact proportions.

It features a spacious interior with seating for five passengers and offers various engine options, including both petrol and diesel variants, as well as hybrid models.

The Countryman also comes equipped with modern technology and safety features, making it a popular choice among those seeking a stylish and capable crossover SUV. 

Skoda Karoq - The Skoda Karoq is a compact SUV produced by the Czech automaker Skoda Auto. It was first introduced in 2017 as a successor to the Skoda Yeti.

The Karoq offers a spacious and comfortable interior, along with a range of modern features and technologies. It is known for its practicality, versatility, and value for money. The Karoq is available with a variety of engine options, including petrol, diesel, and hybrid variants, depending on the market.

It has received positive reviews for its driving dynamics, build quality, and overall reliability.

Ford Puma - The Ford Puma is a compact crossover SUV produced by Ford. It was first introduced in 1997 as a sporty coupe and was later reintroduced in 2019 as a compact SUV.

The modern Ford Puma features a sleek design, advanced technology, and efficient engines. It offers a spacious interior, comfortable seating, and a range of safety features.

The Puma is known for its agile handling and enjoyable driving experience. It has received positive reviews for its practicality, fuel efficiency, and overall value for money.


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