CINCINNATI — According to results from an online survey of more than 1,000 drivers nationwide at the end of 2013, Swapalease.com found that most women are looking for a shorter lease commitment than men. The report also revealed that women usually pay lower down payments, that getting a good deal frustrates women most, and, ultimately, women may not return to leasing after their current experience.
The report, “The State Of Women And Car Leasing,” found that when asked about the ideal lease term, 31.4% of women respondents said they’d like to have a lease term of 24 months or less, compared with just 27% of men respondents. Also, when asked about the biggest reasons why they want out of their lease, 31.5% of women said they either get tired of their car or want out of their lease early, compared with just 16.8% of men.
And according to survey respondents, 42.9 percent of women said they pay $500 or less as a down payment on their lease, compared with just 33.8 percent for men.
When asked what the most frustrating part of a lease is, 37.7% of female respondents said “getting a good deal.” However, having little to no equity in the vehicle represented the largest divide between women (21.9%) and men (13.3%). When asked if a lease will be your next vehicle choice, 43.8% of women respondents said “maybe” or “probably not,” compared with 31.9% of men respondents.
And one of the largest reasons why women may not return to leasing is that they aren’t aware of all the options that exist in a lease environment. When asked if they knew that leases are transferable to others, 69.3% of women respondents said they did not know, compared with 45.7% for men.
“Women make up a significant part of the car shopping process today, and it’s well documented that they’re taking the time to educate themselves on making the right vehicle decision,” said Scot Hall, executive vice president of Swapalease.com. “Clearly, there is a lot more knowledge our industry needs to provide women so they can make informed decisions at the purchase stage, and so they can enjoy the car experience once they drive off the lot.