Dutch drivers picking more expensive private leases
Over the last couple of years, private lease has been growing in popularity in the Netherlands. Recently, the average lease prices have started going up, reports the Dutch car leasing association VNA.
In 2017, private lease represented 60% of growth for the lease market in the Netherlands. Professional lease accounted for 27% of growth, LCVs for 13%.
Today, an estimated 860,000 cars on Dutch roads are leased, a large portion - more than 100,000 - in private lease.
The most popular web searches for private lease cars include the Kia Stonic (pictured), Hyundai Kona and Seat Arona. For financial lease, more people are interested in premium cars like Mercedes or Tesla.
More expensive and longer terms
Whereas until a couple of years ago, many private lease drivers opted for a monthly spend of €300 to €400, more drivers are spending €300 to €400 each month today. Lease terms have also increased, often to three years.
The Dutch consumer watchdog points out private lease has a number of disadvantages compared to buying a car outright. Financially, a private lease is seen as a loan, which limits the available income that can be spend on other things like a mortgage. Additionally, private leases are still more expensive than buying, especially for people that do not have to take out a loan.
Image: Kia Stonic (source: Kia)