Why consumers exit their lease: Its not what you think

Why consumers exit their lease: Its not what you think

Contrary to popular belief, mileage constraints are not the biggest reason consumers exit a lease, says a new survey from Swapalease.com. Its that they no longer need their car because they relocated, received a company car, or a family member died.

Four years ago, the top reason was financial concerns, but that has slipped to 2nd place. Gas prices are, surprisingly, far down the list, in 8th place down from 6th place in 2008.

We just saw a summer of repeated gas price increases, yet these price spikes do not seem to be negatively impacting people and their driving habits, said Scot Hall, executive vice president of Swapalease.com.

Here are the top 10 reasons why people want out of their car lease:

1. No longer need vehicle

2. Financial concerns

3. Want a new car

4. Lifestyle changes

5. Dislike present vehicle

6. Family size

7. Mileage concerns

8. Gas prices

9. Insurance costs

10. Maintenance