Living as an adult in America usually means needing a car to get around. It’s not true for everyone. Those who live in highly urbanized areas get around just fine without a vehicle, which can actually be cost-prohibitive in places like Manhattan. Also, some folks are so affluent and have deep enough pockets to rely on Ubers and/or professional drivers to get them around.
Most everyone else has a car though, although not everyone owns a car. Tens of millions do, but quite a few folks prefer car leasing over ownership. While it can make fiscal sense to many to buy a car and drive it for as long as they can, there are quite a few folks in the middle and upper class that like the advantages car leasing has over car ownership.
While the average car owner keeps their vehicle on the road for 11 years, those later years are ones where more maintenance and repairs are needed, and there is increased risk of breakdowns and faulty issues within a vehicle. The right care, maintenance, and technicians or mechanics can keep a car on the road as long as anyone wants, but anyone leasing doesn’t really have to worry about this. For conventional leases, the car they are driving is never more than three years old.
That’s not to say leased cars don’t break down, but they’re far more unlikely to, especially if the service package is included in the lease at no charge. Leasees just show up for service and don’t pay for it.
Another thing that many drivers like about car leasing is that they’re not stuck with the same vehicle too long. It’s not just avoiding watching a car get old, but more about constantly having access to new features and technology, as well as enjoying something new and different every few years.