The majority of private lease drivers indicate they spend over an hour researching a new private lease car. 87% of consumers say that the information from the leasing company about the specific lease car is insufficient, causing them to search for more information via the importer's website. The risk for universal leasing companies is enormous; consumers prefer to purchase from the importer's website rather than from the captive leasing company. This message also appeared on Leaseaholic.
Interest in the customer journey of a private lease driver is rising with the growth of the private lease car fleet. Where in the early years many leasing companies looked at the private lease market with suspicion (because: relatively much work for one order), the private lease market is now embraced. Private Lease is the segment within the business car market that grows by dozens of percentage points per year. Within just a few years, the Private Lease car fleet has grown to over 100,000 cars.
The private lease driver searches only online
The customer journey of the private lease driver is fundamentally different from that of the "regular" lease driver. It most closely resembles the purchasing process of a private individual who shops online. In broad terms: the private lease driver searches only online. They don't just search on the universal leasing company's website - 87% of respondents find the information about the lease car insufficient and therefore also visit the car brand's website. It's also notable that the private lease driver only visits the offline store (car dealer) when necessary, for example only for car delivery.
According to the WUA research, only one-third of private lease drivers need a dealer quote. Over 50% of surveyed consumers indicate they only need the dealer for car delivery. For 55% of consumers, the search begins and ends online. The similarity to an online shopper is confirmed by the fact that 63% want to be addressed informally. 82% indicate that a well-functioning and good-looking website is important for whether or not to conclude a private lease contract.
Purpose & Relevance of this research
The purpose of the research is to precisely map out the digital experience of potential customers who are researching a private lease car, which provider they choose and especially why. Using a proven model that WUA has worked on for the past 10 years, we provide sharp insights into what customers want, what the best practices are, and where the pain points lie per provider.
