Why younger drivers are leasing cars

For many of us, our first car was invariably an old banger. Something that cost a few hundred pounds, belched black smoke and leaked when it rained heavily. But times have changed and recent research has shown that almost 20 per cent of all 18 to 24-year-olds are now driving cars worth anything up to £20,000. That’s because younger generations have discovered car leasing and are now driving more luxury and higher end cars than at any time in history. The figures for young people compare starkly with those for middle-aged motorists with just 5 per cent of 45 to 50-year-olds choosing leasing to drive the car of their choice. Meanwhile almost three quarters of people over the age of 60 use savings to finance new cars and virtually none of them are leasing. Why is car leasing so popular with young people? Car leasing has exploded in popularity in recent years and is available to the majority of people – whether employed or self-employed – and even to those with poor or non-existen


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