Siemens

Cars are full of tech that gets outdated fast — so people are leasing, not buying

Cars are full of tech that gets outdated fast — so people are leasing, not buying

Buy a smartphone, use it for a couple of years, then ditch it for something new and improved.

It’s a life cycle that has become the norm for cellphones. Now, that same short-term relationship is applying to what traditionally has been a long-term commitment: cars.

Instead of buying a vehicle, more Americans are shifting to leasing, which allows drivers to utilize a new or used car for a limited amount of time, typically three years.

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