An investigation of the perceived value of vehicle leasing
This dissertation investigated the perception of second hand vehicle leasing in the New Zealand market. Vehicle leasing in New Zealand is currently an area which is under-developed. Also majority of the privately leased vehicles in New Zealand are second hand vehicles. Therefore, the perception of vehicle leasing in the New Zealand market is vastly different from the other markets, which were used as a basis for comparison in this study. Through the course of the research, five perceived values of leasing a second hand vehicle were determined. These perceived values found were simplified maintenance, cost effectiveness, ease of leasing, easy to manage budget and maximization of cash in hand, and vehicle value estimation. The result of this research showed utilitarian factors which determine significant value to second hand vehicle lessees. It was found that simplified maintenance determined the greatest value to New Zealand vehicle lessees. This research is expected to contribute to the body of knowledge in the consumer behaviour field, through investigation of the perceived value of second hand vehicle leasing in an under-developed vehicle leasing market. This is important as the New Zealand market is expected to have a large potential for second hand vehicle leasing. Therefore, this research can assist the New Zealand leasing companies to better understand their potential customers, and thus allowing the companies to refine their strategies and tactics.