The rise of “rent-first” lifestyle is a significant trend in the modern world. This trend signifies a growing preference for renting over traditional ownership in various aspects of life, including housing, cars, and even fashion. This shift is driven by several factors, including the desire for flexibility, cost savings, and access to new or luxury items. The “rent-first” lifestyle is particularly prevalent in the survey results, with 58% of Americans opting for renting their homes.

The study also revealed that the majority of leaseholders are younger, with a median age of 38. This suggests that leasing is particularly attractive to a younger demographic, who are more likely to prioritize flexibility and convenience over long-term financial commitments. Furthermore, the study found that the average lease term is 36 months, which is significantly shorter than the typical 60-month ownership period for traditional car purchases. This shorter lease term reflects the desire for frequent vehicle upgrades and the changing nature of consumer preferences.