Published on Wednesday 24 June 2020 in Company News
Car Leasing Company Vanarama Offers Customers FREE Redundancy & Life Event Cover
- Surge in interest in personal car buying due to fears of using public transport
- UK Government's furlough scheme supporting a third of UK work force
- 44% of workers fear that their job is at risk because of Covid-19
- UK set to face largest unemployment crisis for 25 years when furlough ends
Vanarama, the UK's leading independent commercial and personal vehicle online leasing company has announced today that it is offering a FREE Redundancy & Life Event Cover for its car and van leasing customers. With the UK Government's Furlough scheme reducing it's offering in August and ending in October the UK is set to face its largest unemployment crisis for 25 years. Vanarama realised that it needed to provide additional peace of mind and support for its clients enabling them to purchase with confidence in the current climate. The offer is available to all customers who take a new lease out from 1st July 2020 and will include redundancy; divorce or dissolution of a civil partnership; disability and death. Customers will not be charged for the costs of returning a vehicle.
The Government's easing on Lockdown and advice to avoid public transport, where possible, has seen a surge in interest in personal car buying. With less than 50% of UK driver licence holders owning a car and 80% of consumers aged between 25 -35 years old having never owned a car the demand is there, but the fear of unemployment will no doubt stifle consumer confidence.
Consumer buying habits have changed and the Covid-19 pandemic has further accelerated the move to buying online and leasing, in fact pre pandemic 56% of car buyers expected to purchase a new vehicle online and 85% who intended to buy from a dealership 'gave up' on their perfect car due the lengthy and exhausting process.
"Over the last few years we've seen a dramatic change from ownership to usership and we know that consumers are confident to purchase online, in fact 80% of our car leasing customers have never driven the car before we deliver it to them. But they are doing their research spending on average 14 hours, we have over 1200 hours of watch time on our site's video reviews every month." Said Andy Alderson, CEO and Founder, Vanarama. "The Covid-19 pandemic and fears of using public transport has seen a greater swell in interest in car purchase. People want to buy online, they want flexibility and with the introduction of the Vanarama Redundancy & Life Event Cover we are offering them the opportunity to do that with confidence and added security." concluded Alderson.