Over the last few years car leasing has grown in popularity. Becoming one of the first options drivers will consider when thinking about upgrading their car. Rather than forking out thousands of pounds for a new model that will only lose value over time, car leasing provides a better solution. Giving drivers a far greater range of options as well as the flexibility to change their vehicle more frequently and enjoy the benefits of modern motor technology.
As car leasing becomes easier and drivers are more inclined to sign leasing contracts, we are asking what the future of car leasing looks like. And how does this shape the car ownership of the future?
Motor Industry technological innovations becoming more accessible
In the coming years we are anticipating continuous and rapid changes within the motor industry. Seeing manufacturers and engineers releasing even better and more advanced technology than ever before. One way that car leasing benefits drivers is by making these technologies even more accessible.
Technologies including electric vehicles, self-driving cars, vehicles connected to devices, and AI, are becoming more and more prevalent within the automotive industry. With car leasing providers offering up a wide selection of makes and models to drivers who are ready to adopt these technologies at great monthly prices. These deals make driving a modern and advanced car even more accessible for the average driver.
An easier solution for drivers on a budget
While the cost of living crisis currently affects the disposable income of so many families in the UK, it is also predicted that in several years the cost of vehicles will rise. Thanks to a number of factors including Brexit and significant changes in trade policies and fees on the importation of new models, cars will become far more expensive to buy outright. And while households deal with budgeting and a more expensive livelihood, buying a brand new car will likely become out of reach for many drivers. Meanwhile, car leasing providers are offering greater pay monthly deals on a wide range of makes and models, making it easier for the average car owner to upgrade their car when this becomes necessary.
This is especially important for drivers in inner city areas where fees and fines are being introduced to reduce the number of high emission vehicles on the roads. If driving an old banger has become far too expensive but buying a new, more economical car is out of reach, car leasing provides the perfect solution for so many.
Growth forecast for the car leasing sector
Sometimes the best way to predict the future is to take a look back. Over the last few years various studies have identified a steady growth in the rate of drivers opting to lease a car rather than privately owning a vehicle. In fact, some stats from 2021 found that private ownership of vehicles has fallen to less than half of vehicles on the roads in Europe, down to 42%.
Taking this into consideration and the advantages of leasing a car now provides drivers, we can only assume that within the next ten years the numbers of drivers turning their backs on private ownership will continue to grow and leasing will become the number one option for accessing new makes and models in the future. With this in mind, the team here at All Car Leasing are ever-expanding our services and reach to provide drivers with the very best selection of cars at some of the greatest leasing deals around.
To find your next car leasing deal or to begin leasing for the very first time, take a look at our current offers today.