The share of consumer units that lease a car increased from 2.3 percent to 5.5 percent between 1992 and 1996. Fifteen percent of the highest income quintile leased a car in 1996 compared to 6.6 percent in 1992. Only one percent of the lowest income quintile leased in 1996. Leasing is most prevalent in the Northeast where 7.7 percent of consumer units leased a vehicle in 1996. Ninety-three percent of leased vehicles are new upon receipt while only 37 percent of owned vehicles are new upon receipt.
Consumers spend more on leased vehicles than owned vehicles.
The Federal Reserve and other financial institution regulators have produced several resources on the century date change that you may find useful in your financial education programs this year. There are also three brief generic articles that can be used in newsletters or for columns in local newspapers. Information from a Gallup consumer survey conducted earlier this year is also on the site. The Consumer Matters Section is on the left side of the page. Please make sure you provide a shipping address in your request.