Leasing Experiences Continued Growth in Q2 2024, According to New Experian Report
EXPERIAN PLC S/ADR (EXPGY)
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Source: Business Wire
Data shows leasing increased across all credit risk tiers SCHAUMBURG, Ill.--(BUSINESS WIRE)--As consumers find ways to navigate the ever-evolving automotive finance market, leasing is re-emerging as an optimal choice for those seeking flexibility and affordability. According to Experian’s (LSE: EXPN) State of the Automotive Finance Market Report: Q2 2024, leasing witnessed a notable increase—reaching 25.35%, up from 21.14% last year and 19.30% in Q2 2022.“As the influx of new vehicle inventory persists, a wider range of models are becoming available and dealers and manufacturers are leaning back into leasing as a way to move metal,” said Melinda Zabritski, Experian’s head of automotive financial insights. “While vehicle prices remain elevated, leasing offers consumers the appeal of a lower monthly payment, part of the reason for the renewed interest.”For example, the average monthly payment for a leased vehicle declined across all credit risk tiers in Q2 2024—with super prime borro
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