Is Your Car Obsolete?

More and more car-shopping Americans are turning to leasing, as evidenced by seven consecutive years of lease volume growth. Consumers leased 4.3 million vehicles in 2016, compared to 1.4 million vehicles in 2009. While many people choose leasing as a way to lower their monthly payments, automotive technology is also playing a role in the shift.

In recent years, automakers have begun incorporating high-tech options into new car rollouts. Technology innovations allowed manufacturers to add new safety, navigation, and driver-assistance features—everything from automated parallel parking and blindspot monitoring to better cruise control and entertainment systems.

The introduction of popular new gadgets and features is causing cars to seem obsolete sooner. And for a growing number of consumers, leasing offers an opportunity to stay current by replacing their vehicles more often.

Demand for that flexibility will only increase as advances in electric vehicles and self-driving cars continue. Buying—and owning—outdated automotive technology will lose even more appeal as innovation changes the way we drive.

Want a vehicle that’s on the cutting edge of automotive technology? Contact us about leasing your next car.