The 2nd-Hand Car Boom

Lucylee2018sg07 Aug, 2018Business

Ever since I can remember I had always wanted a brand new car. Much of the motivation comes from the fact that I am a guy and for most guys, cars are status symbol if not the very essence of manhood. Now I am a middle aged family-man who has had experiences with five different brand new cars. And truth be told, my childhood dream has began to take a different form. Today, I am no longer on the look out for the latest car or the brand new model. Instead, I am ever-excited to find the best deal for 2nd hand car, on the on-line market for trades and leases and rentals rather than in waiting line for the most recent sedan or SUV. And perhaps I am not alone. In 2014, around 75% of all car transactions were leased and there was an average 20% increase in all lease and rentals of all major car manufacturers. The Shifting Preference for 2nd Hand Cars The change in my preference had little to do with age and family or even changing lifestyle as one would normally assume. Instead, the change,