"Consumers are once again returning to leasing as an attractive and affordable alternative to financing new vehicles. This allows them to have the features they want at a subscription-like payment model they have become familiar with across products and services today," said Jason Laky, executive vice president and head of financial services at TransUnion. He further explains how the evolving market conditions are making leasing a favored option among consumers.
The shift toward leasing is a market-wide trend, but the EV sector saw the biggest change in this direction. Leasing accounted for 48.7% of new EV sales in Q2, reflecting a significant transition in consumer behavior compared to financing, which decreased to 34.7%. This trend showcases the growing preference for leasing among EV buyers.
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