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Low mileage lease deals boom post-lockdown

2018 Mercedes A-Class

Demand for low mileage car leasing deals has grown by 40% since the coronavirus lockdown measures were eased at the beginning of June.

Leasing.com says changes in lifestyle, commutes and working patterns post-lockdown have meant that those who want a new car are choosing leasing deals with fewer contracted miles.

Demand for 5,000 annual mile deals via the Leasing.com website were the most popular with a growth of 40%, while 8,000-mile enquiries were up 14%.

Deals with a 10,000-mile allowance were down 25% and deals and those 12,000 miles or more were down 18.7%.

Paul Harrison, head of Strategic Partnerships at Leasing.com, said: “The pandemic has had a profound effect on the country and the way we all live our lives. Although lockdown restrictions have eased, reduced mileage demand suggests people are not only making fewer, shorter journeys today, but intend to continue that behaviour throughout the term of their agreement.

“Covering fewer miles will make agreements more affordable per month and make car leasing an even more attractive proposition at a time when there are concerns about the use of public transport. It’s very difficult to estimate mileages during these challenging times, but consumers should be advised to err on the side of caution and be fully informed about excess mileage charges.”

The Mercedes-Benz A-Class continues to be the most popular car to lease this year, but fellow German manufacturer Audi received more enquiries than any other brand in June, with the A4 and A3 proving popular. This is the first time that Mercedes-Benz has not topped the Leasing.com manufacturer league table in years.

The car leasing industry is experiencing a rapid rate of recovery following the automotive industry’s collapse during the coronavirus pandemic.

Since mid-May, when it was announced that vehicle deliveries and collections could commence, Leasing.com says year-on-year enquiry levels have returned to those of 2019.

On one day in May, enquiry levels were up 812% from the lowest point of lockdown

Conumer enquires on Leasing.com are down by just 5% year-on-year.

Top 10 personal lease enquiries in June 2020:

1.            Mercedes-Benz A-Class

2.            Audi A4

3.            Range Rover Evoque

4.            Audi A3

5.            Mini Hatchback

6.            Ford Focus

7.            BMW 2 Series

8.            Mercedes-Benz GLC Coupe

9.            Volkswagen Golf

10.          Tesla Model 3

Top 10 personal lease enquiries by manufacturer in June 2020:

1.            Audi

2.            Mercedes-Benz

3.            BMW

4.            Volvo

5.            Land Rover

6.            Volkswagen

7.            Ford

8.            Peugeot

9.            Seat

10.          Renault

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