#4053: CULA's Chris Harper Shares Top Findings From Latest Consumer Leasing Surveys...

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Chris Harper, Director of Business Development for CULA, stopped by the show to share Credit Union Leasing of America's (CULA) latest survey revealing affordability being the top driver for consumers leasing vehicles today.

Chris shared a few key findings in our discussion:

• Nearly 70% of consumers surveyed would lease again for lower payments, shorter terms and flexibility in uncertain economy
• 90% found leasing a good option versus a loan
• 60% of those who had just leased a vehicle said the affordability of leasing was their top consideration in choosing a lease over a loan
• 40% cited being able to change a vehicle every few years to keep up with technology and new features

He added that tariffs seemed to have played a role in some of these findings and expanded tariffs’ role in this area.

Chris also talked about the rising cost of new cars — even before tariffs — and how that has most likely played a role in leasing’s uptick, enabling consumers to get into a new car.

Lastly, he shared lessons or takeaways from these findings for today’s credit unions and how then can leverage these new discoveries.

For more details, here are links to the two surveys referenced in this episode:
LENDER / CU SURVEY
Credit Unions Expect Tariffs to Dampen Auto Sales but Majority Optimistic About Auto Portfolios

MEMBER SURVEY
Affordability is Top Driver for Consumers Leasing Vehicles, according to New CULA Survey

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.