Shifting demands on new car leases

19 April 2021 | David Young

Car buyers are shifting towards deals for newer cars with lower mileage, for fewer years

Shifting demands on new car leases

This is according to new research undertaken by car leasing comparison website Moneyshake.

It found enquiries on the shortest lease contract (24 months) have doubled in the last six months, while enquiries on 5,000 annual mileage contracts have increased from five per cent to 35% in the last six months.

Moneyshake Leo, Eben Lovatt, said: "We've seen a dramatic shift in the market with more people working from home due to the pandemic and travel restrictions meaning cars use in general is down. A surge in demand for lower mileage contracts and short-term agreements speaks to underpinning customer confidence in today's climate."

Moneyshake has also seen a huge uptake in electric cars, with its customer survey revealing that 85% of new car buyers are now considering an electric car for their next vehicle.