Even though millennials may have been handed a reputation for being irresponsible and unwilling, in reality, the negative labels actually stem from the simple fact that they are entirely underpaid while also being one of the most educated generations yet.
Therefore, being money-savvy is an absolute essential considering low salaries can only be stretched so far. Unfortunately, this often means that millennials are simply unable to afford brand new vehicles that would be able to offer reliability. Purchasing used vehicles is not always an option, especially when considering the potential risks involved. Research confirms that millennials seem to be particularly fond of leasing vehicles and here’s why the option stands as a clear solution from the viewpoint of an entire generation.
Affordability
For far too many, purchasing a new vehicle is simply not an option. Even though vehicle finance may be considered the second-best alternative to purchasing a new car cash upfront. However, the high-interest rates associated with vehicle finance indicate that drivers would essentially be paying a much higher monthly fee. In addition to this, the qualifying criteria for vehicle finance often suggest that it is not entirely an option for millennials who may not earn enough. Therefore, as far as affordability is concerned, opting for a competitive leasing deal on a new car would be the ultimate solution as the monthly payments are significantly lower in comparison to finance options.
Unlimited
Choice is generally limited to those who do not have optimal finances at their disposal, although, considering https://www.intelligentvanleasing.com/ provides an impressive array of deals on several vehicles, leasing is the ultimate solution. From millennials seeking eco-friendly cars to business owners looking for a top-rated company van for their business needs, leasing provides more than enough choice to ensure drivers are able to opt for a vehicle that suits both their pockets and their travel needs. This means that drivers no longer need to compromise their preferences for financial concerns.
Driving A New Car Often
While being money-savvy has become a survival requirement for millennials, one of the most appealing elements of car leasing is likely the fact that drivers are able to drive a new car regularly without paying a fortune. Most leasing deals offer drivers the option to purchase the vehicle at a lower cost once their contract term comes to end while also allowing the driver to rather take a new lease on a new car.
Freedom From Maintenance Costs
As most lease deals include routine maintenance costs, drivers only need to worry about their monthly premium, vehicle insurance, and the cost of fuel. This means that drivers who opt for hybrid cars would benefit the most from the financial aspects of leasing as fuel costs would be minimal or insignificant. Millennials are fully aware of the fact that vehicles constantly depreciate in value, which may be another reason why purchasing a liability is not a logical solution. Leasing protects drivers from the concern that their hard-earned money has turned into a routine expense, especially when considering the potentially high cost of maintenance and repairs on used and older vehicles.