Millennials were significantly more likely than the car-buying population at large to lease a new auto during the first six months of 2015, according to Edmunds.com.
The Santa Monica, Calif.-based, automobile-focused consumer research firm analyzed car registration data and found that leases accounted for 28.9% of millennial car purchases. This compared to an overall lease penetration rate of 26.7% and represented a 46% increase in millennial car leasing over the last five years, the statisticians added.
The car research firm attributed the trend to millennials' awareness of their budget limitations and ability to lease more car than they would be able to buy.
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