Two recently published articles give seemingly contradictory pictures of car ownership. Here’s what each scenario means for Los Angeles luxury car shoppers at Keyes Lexus.
The first insight comes from financial website TheStreet, which notes that car owners are hanging onto their cars for longer than ever. The average age of a car or SUV on America’s roads is 11.6 years old. The trend, which started amid the economic uncertainty of the 2008 recession, hasn’t slowed even as the economy has gotten better.
The other trend is noted in a recent report by Edmunds, which says that car leasing is on a steady upward climb since 2009. The number of leased vehicles on the road went from 1.4 million vehicles in 2009 to 4.3 million vehicles in 2016. That trend shows no sign of slowing down, either. The higher lease numbers are being propelled by a similarly explosive growth (and rapid rate of change) for in-vehicle technologies like active safety features, infotainment systems, and smartphone integrations.
So what lessons should we draw from this? Well, whether you choose to “hold” or to buy/lease your Lexus vehicle, it’s a great time for it. Lexus cars are very well built, meaning they’re in it for the long haul if you are. The only caveat, of course, is that you’ll need to be diligent about Lexus service near Los Angeles to keep your vehicle running like new.
The other lesson is that leasing a new Lexus vehicle is a great way to ensure you’ve always got the latest and best technology available. At some point, the pace of new developments will slow, and you might opt to buy at that point instead of leasing. That may also mean buying a certified vehicle that’s come off lease and getting all that innovation for less!
Trying to figure out your options? Keyes Lexus is here (at 5905 Van Nuys Blvd. in Van Nuys, CA) to help. Stop by today!