Confession time: it didn’t come as a complete shock that not everybody in our recent survey about car finance didn’t understand the ins and outs of how it all works. However, we were surprised at the level of confusion around what is for a lot of people the second-biggest monthly outgoing after rent or mortgage.
In the old days, a guy drove a Chevy truck, bought his wife a Chevy car, traded in his Chevy truck for a newer Chevy truck and made sure his kids drove nothing but Chevys.
When those kids grew up and could think for themselves, though, they probably decided to rebel by buying a Camry, or if they really wanted to tick off the old man, a Sonata. Chances are, those kids leased their new cars and thus developed a loyalty to their new brand, albeit a loyalty based on the convenience of renewing a lease.
Today, the idea of brand loyalty is becoming as antiquated as the 4-speed manual transmission. With so many quality choices in modern cars, why choose to stick with one particular brand?