Analysing consumer preference factors and their impact on willingness in vehicle leasing in Malaysia
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Abstract
Vehicle leasing is less developed in Malaysia than in Western countries due to the easy availability of loans for vehicle ownership and the underdeveloped public transport system. This study analysed the factors affecting consumer preferences and willingness to lease vehicles in Malaysia, including cost, convenience, flexibility, and ownership. Data was obtained through distributing 350 questionnaire copies, which yielded 257 responses, after which data was analysed with the help of SmartPLS4 and SEM. The study found that convenience, cost, flexibility, and ownership positively influence consumers' willingness to lease a vehicle. To encourage vehicle leasing, leasing establishments in Malaysia should prioritise these factors. This study is useful for professionals in the Malaysian vehicle leasing market and contributes to the literature on consumer willingness to lease vehicles in Malaysia.
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