During the Covid-19 pandemic, customers on Leasing.com are opting for lease deals with lower initial payments, rather than putting large sums of money down.

Paul Harrison, head of strategic partnerships at Leasing.com, said: “Our advertising partners have seen a dramatic rise in enquiries via our marketplace on low initial payment lease deals since the lockdown was announced on 23 March.”

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In the six months between 23 March and 23 September 2020, enquiries on two-year lease deals with a one-month initial payment were up 98% year-on-year, while three-year deal enquiries were up 80% and four-year deal enquiries up 114% over 2019.

Harrison noted that many consumers are reviewing their outgoings during this period, trying to maintain savings for the months ahead. “In the new car sector, this has led to a spike in demand for lower upfront payments from consumers who are new to leasing and the appeal of fixed-cost motoring as well as consumers getting into their next lease.

“We’re investing in a number of website changes that will help consumers and our advertising partners respond to these changing market trends.”

Top 10 personal lease enquiries for September 2020:

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  1. Volvo XC40
  2. Mercedes-Benz A-Class
  3. Audi A3
  4. Volkswagen Golf
  5. Mercedes-Benz GLB
  6. Range Rover Evoque
  7. Tesla Model 3
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Earlier this year, Leasing.com partnered with Wizzle to help users find a car buyer online by advertising their vehicle for free to Wizzle’s network of dealers and online buying companies in the UK.

Sebastian Duval, chief executive of Wizzle, said at the time: “Our partnership with Leasing.com has enabled our business to tap into the growing new car leasing market and those new audiences. By offering Leasing.com users access to our large network of car buying partners and our valuations technology, we will help drivers to confidently dispose of their existing car and get into their new leased car more quickly.”