Volvo notes leasing increase
An increasing number of motorists are warming to the idea of leasing their new car rather than outright ownership, according to figures from Volvo.
Fleet sales have been picking up the private sector’s slack and supporting new registrations for the best part of the last 12 months [link], and it now appears company car drivers are also influencing how private car owners are paying for their motors.
Data gathered from Volvo dealerships throughout the country suggest that more motorists are opting for rental avenues such as contract hire or personal contract hire.
Leasing was up by 68% last month compared to October 2010 with personal contract hire counting for over a quarter (28%) of the total – up by two thirds (66 per cent) in comparison to last October.
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Tony Grice, Training and Field Manager for Volvo UK, put it down partly to the public’s increasingly thrifty nature.
“We’re now seeing more customers opting for contract hire products than ever before,” he beamed.
“A competitive rental figure that incorporates a maintenance package means we have a practically unbeatable value-for-money proposition.”
Familiarity
The V60, S60 and XC60 turned out to be Volvo’s most leased models during October and Mr Grice believes people have grown used to the idea of paying monthly with their mobile bill or other direct debits.
“This funding method is particularly attractive in the current climate because it makes budgeting easy,” Tony added.
“Motorists have a new car they keep for two or three years so there are no MOT or road fund licensing costs and by including a maintenance package, the cost of routine servicing is also covered.
“What’s more drivers are benefitting from driving a newer car with the latest technology which are cleaner and more fuel efficient than their older counterparts.”
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