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New Study Shows People Trading In Cars As Fast As Smartphones

TMCnet Feature

April 11, 2014

New Study Shows People Trading In Cars As Fast As Smartphones

By Oliver VanDervoort
Contributing Writer

The dirty little secret of the mobile device market isn’t really that much of a secret after all. A new report simply underlines what most in the smartphone and tablet sector have known for years. People who change up their smartphones quite often are also looking to change up other possessions almost as often, such as their cars and computers.

The study from the car-leasing marketplace surveyed more than 1,000 drivers from all across America. That survey showed that more and more people are treating cars the same way they treat smartphones.  Customers have actually come to treat the payment for their cars much the same way we do phones as well. Instead of making payments on a car until it is entirely paid off, people have grown accustomed to continuing to make payments on their cars until they trade it in for another one.

That kind of behavior is something people are used to when it comes to going from an iPhone 5C to an iPhone (News - Alert) 5S or the next model. "Whether it's your car or your phone, we all live in this new mobile mentality," said Scot Hall, Executive Vice President of during a statement announcing the survey. "And it doesn't stop there, because consumers have become accustomed to change in many areas of their lives, including their residence, wardrobe, career path and even the people we decide to spend our lives with -- for now."

One aspect of the survey is that men and women are almost identical when it comes to wanting to change out their cars as often as their smartphones. 59.5 percent of men have that desire compared to 60.7 percent of women. Another thing the survey was able to find out is that the desire to change their car isn’t all about getting the newest toy. 42 percent of men and 50 percent of women say they want to change out their cars because the newer model also comes with a new warranty.

Edited by Maurice Nagle

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