Eighty-One Percent of Americans Won't Spend Rebate Check on a Vehicle
Although it wasn't mentioned in the report, vehicle repair may be a more likely alternative than a vehicle purchase according to a recent survey on use of tax rebate checks.
Eighty-one percent of all car shoppers
surveyed by LeaseTrader.com
said they do not plan to use their
government tax rebate checks to purchase a vehicle.
A one-week online survey on LeaseTrader.com that polled thousands
of car shoppers revealed that the government tax rebate check will not
be a big enough incentive to encourage car shoppers to actually make a
“The results of this survey give an indication of just how much the
current economy has affected the average American consumer,” said
Sergio Stiberman, CEO and founder of LeaseTrader.com. “Although the
government is hoping to provide incentive for people to spend money and
increase economic activity, this survey shows that a good majority of
Americans won’t be using the money toward a car purchase.”
A number of economic factors have slowed sales of vehicles over the
past several months, including higher fuel prices, rising mortgages and
foreclosures, overall inflation and a rise in credit debt.
The majority of people who shop on LeaseTrader.com are looking to
assume someone else’s lease so they can avoid paying a down payment as
well as a lengthy vehicle lease term. “Most people can’t project their
finances over a long period of time,” added Stiberman. “They are
instead choosing to shop for a 12 or 18 month lease since they can
project their finances better compared to a 60-month loan, for