A typology of motor vehicle consumers using motives for leasing versus financing

Trocchia, Philip J.; Beatty, Sharon E.; Hill, William W.

doi:10.1002/cb.182

Cited by 3 publications

(1 citation statement)

References 24 publications

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“…"Reference [20]" suggested that individuals who finance high-cost items tend to differ from those who lease the same items. In this particular study, the authors investigated the economic issues and non-economic issues regarding motor vehicle leasing.…”

Section: Introductionmentioning

confidence: 99%

Vehicles leasing operations in Lagos state, Nigeria

Solanke

Raji

Alli

2019

Logistics &Amp; Sustainable Transport

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Vehicle is an important element of transport; and its financing especially in road transport comes in 3 ways; outright purchase, hire purchase and lease. Of all these three methods of road transport financing, leasing has attracted little attention in Nigeria transport research. This study was carried out to examine the development, types and form, operating characteristics and problems of vehicle lease in Lagos State, Nigeria. Aggregate number of vehicle leasing companies in Nigeria from inception to 2018 was obtained from corporate affairs commission (CAC). Four prominent vehicle leasing companies: Cashlink Leasing Plc (CLP), NIKKY Taurus Ltd (NTL), C & I Leasing (CIL) and SAMTL Leasing Ltd (SLL) were purposively selected for the operating characteristics and challenges of the leasing companies. 298 structured questionnaires were administered to the staffs of the selected companies seeking the types and forms of lease and challenges encountered in the course of operation using stratified and simple random samplings techniques. Vehicle leasing started in Nigeria from 1986 with the likes of pine hill leasing, Cashlink leasing, VT leasing in Lagos. Within 1986 and 2018, it has spread to 23 different urban cities and the number has increased to 297 companies in 2018. Operating and finance leases exist in the industry with majority of 91.6% of the companies practice operating lease. The staff strength and fleet size level of the leasing companies varies overtime but positively significant to their operations. However, poor pricing of lease service, inadequate finance of vehicle, default in payment of rental charges and high cost of maintenance minimize leasing service efficiency and effectiveness. It is recommended that government should provide subvention for vehicles acquisition, face-off of racketing vehicles from cites and legislate policy to regulate operational activities (entry and exit) of the companies.

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Section: Introductionmentioning

confidence: 99%

Vehicles leasing operations in Lagos state, Nigeria

Solanke

Raji

Alli

2019

Logistics &Amp; Sustainable Transport

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The Impact of Acquisition Mode on Expected Speed of Product Mastery and Subsequent Consumer Behavior

Harding

Hildebrand

Krämer

et al. 2018

Journal of Consumer Research

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Does Access Trump Ownership? Exploring Consumer Acceptance of Access-Based Consumption in the Case of Smartphones

2018

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Value creation in a circular economy is based on products being returned after use. In the case of smartphones, most are never returned and tend to be kept in drawers. Smartphone access services (e.g., leasing or upgrade) have been experimented with in the Netherlands but have been largely unsuccessful. This study explores the reasons why consumers rejected these access-based smartphone services and is one of the very few to address this topic. The findings are compared with the case of car access services, which are socially better accepted, to identify potential areas for improvement. The qualitative study consists of in-depth interviews with consumers (n = 18) who either adopted and used a smartphone or car access service, or had considered a new smartphone or car but did not choose access-based consumption. The findings of this small-scale study suggest that the main reasons for the rejection of smartphone access services are a lack of awareness, misunderstanding of terms and conditions, and unsatisfactory compensation for their sacrifice of not owning. Smartphone access providers could thus clearly communicate customers' rights and responsibilities, offer an excellent service experience (especially during repair) by taking over the burdens of ownership, and stimulate the societal logic shift from ownership to access.

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A typology of motor vehicle consumers using motives for leasing versus financing

Cited by 3 publications

References 24 publications

Vehicles leasing operations in Lagos state, Nigeria

Vehicles leasing operations in Lagos state, Nigeria

The Impact of Acquisition Mode on Expected Speed of Product Mastery and Subsequent Consumer Behavior

Does Access Trump Ownership? Exploring Consumer Acceptance of Access-Based Consumption in the Case of Smartphones

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