Over the course of just one year, February 2015-2016, 96.443 new car registrations were recorded in the Australian market. The number was released by the FCA and appeared in an article in caradvice.com.au; this serves as proof that cars are of utmost importance in Australia. The number of leased cars is steadily growing from year to year. Many lessors have offers meant to make you stay for another lease term.
Contrary to the widespread opinion that novated leases are mainly dedicated to people who earn a lot, SBS opines that 70% of the people that have such a lease earn less than $100.000/year. This means that novated leases are friendly with anyone, price-wise.
In concordance with the last Motor Vehicle Census, released last year, there are no less than 18 million registered cars in Australia. Subsequently, there was a growth of 2.1% since 2015. Unfortunately, Australians are now spending up to $22,000 each year to preserve their cars, as it is shown by this article.
According to statistics from the Federal Chamber of Automotive Industries, last year, the new vehicle market grew by 2% from 2015. Thus, the market reached 1,178 million, becoming another record. As of August 2016, the most preferred brand was Toyota, as shown by this ranking. You can well imagine that leasing contributed to the said record.
In lines with the survey provided by the Australian Government, 2016 saw an increase of 5% in domestic overnight trips (generating $89.4 million). Day trips also increased by 7%, reaching $187.7 million. Free camping, in its turn, had a growth of 36%. As you can see, Aussies are very fond of their road trips. They are essentially nomadic people that love to travel more than anything else.
It’s an age-old debate – whether leasing or buying a car is the better option. Both have their merits. What are the advantages to leasing? Leasing has become a popular option with Australians in recent years, especially as we experience advances in automotive technology almost every day. But which is definitively better?
Everyone has to buy the car they drive, right? Wrong! Many Australians are turning to a great alternative to buying a car outright – car leasing. There are many misconceptions about car leasing out there. Some people think leasing is just like “renting” a car for a very long time! Though leasing and renting share superficial similarities, there are a lot more benefits to leasing than meets the eye. There are even more benefits to leasing over buying! Here are some:
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