Updated September 13, 2018 07:06:55 In a bid to win back customers who are abandoning their leases, a new company is offering customers a new lease deal that lets them lock in the most lucrative deal on the market.
The deal is called Enhanced Lease Deals, and it is available on the leasing websites.
It gives customers a fixed monthly payment of $3,000 and gives them the option of taking a $10,000 lump sum payment instead of a fixed amount.
It also lets them keep the lease term as long as they want, while at the same time making their lease payment more flexible.
The company, called CarMax, said the Enhanced Leases would be available to customers starting from September.
It is the latest attempt to encourage more people to lease.
The Australian Bureau of Statistics last year said the number of people in Australia who had a lease for a fixed period of time fell from 8.7 per cent of the population in 2016 to 7.9 per cent in 2021.
The latest study also found that fewer people were buying their first car, with about a quarter of people reporting owning their first cars.
The report said: “There are some areas of the Australian rental market where the industry needs to do more to attract customers, such as the market for used vehicles and the market in the mid-sized and small car markets.”
It also found people were more likely to pay less than other Australian renters.
CarMax chief executive Ian Wright said the new lease offers would be offered to customers who had already leased a vehicle.
“These new lease options will help provide more flexibility to our customers,” Mr Wright said.
“It’s a great opportunity for new lease owners to get on the right side of the law and keep their lease.”
Mr Wright has also said the company was in the process of adding more options for customers who want to rent a car for longer periods of time, but said the lease deal would only work on new vehicles.
Car Max says the Enhanced leases will be available in the US and Canada.
Mr Wright told ABC Radio Sydney that he had received a number of inquiries about the Enhanced lease deals.
He said it was “very exciting” to be working with the US government on the legislation.
“We’ve had a number different companies approach us about how we can do this, so it’s really exciting,” he said.
He also said he expected the Enhanced leasing to attract more customers, with more people choosing to lease their car for shorter periods of the year.
“There’s a lot of demand from a number other parts of the world for longer leases, so I think it’s a very good idea,” he added.