The average monthly instalment calculated on the basis of new-car leases concluded in January 2024 amounted to PLN 1,844 net and was PLN 85 net lower than in January 2023 and PLN 145 lower than the maximum, which was in August last year, according to Carsmile data. This is at the same time more than in December and November 2023, when this figure was just under PLN 1,800 and PLN 1,760 net, respectively.
“The average lease instalment is a very good measure of the overall situation in the automotive market. It is a resultant of key indicators such as car prices, discount policy, interest rates, the affluence of buyers’ wallets, as well as the demand for cars from different market segments,” said Carsmile vice-president Michal Knitter.
According to him, the decrease in the average instalment currently observed is mainly due to the aggressive discount policy of importers and dealers, as well as the reduction in the WIBOR rate.
“The average discount that can now be obtained against the list price is 13%, according to Carsmile, which compensates buyers for the increases that are still taking place in the price lists of most models,” Knitter added.
The second factor that has driven down the instalment for a new car is the fall in interest rates. The three-month WIBOR is currently around 5.9%. It has fallen by more than 1 percentage point over the year and has already fallen by 1.7 percentage points since its peak in October 2022.
“This is a positive development that has a significant impact on the actual cost of buying or renting a car. This is because in recent years we have had an accumulation of high car prices and a very high cost of financing, which has hampered demand for new vehicles,” stressed the Carsmile vice-president.
Carsmile is the first ‘Car(Fin)Tech’ in Poland, i.e. a combination of the latest technologies used in automotive and transport with an innovative way of pay-as-you-drive financing. Since the beginning of 2021, the company has been part of the international OLX Group.
Source: Carsmile and ISBnews
