The fact that lease penetration notched another all-time record last quarter, representing 33.6 percent of all new-car financing, didn’t come as a surprise to Experian Automotive.

Leasing, along with used cars, has made more financial sense than buying new for many consumers, Experian said in an analysis accompanying its latest State of the Automotive Finance Market report.

The average monthly new-vehicle lease payment during the fourth quarter was $412 (compared to $408 in Q4 2014), according to Experian. Meanwhile the average new-car loan payment was $493 (up from $482).  For used cars, the average monthly payment was $359 (up from $355).

“People shop for vehicles largely based on monthly price, and right now, average dollar amounts for new-vehicle loans are soaring,” Melinda Zabritski, senior director of automotive credit for Experian Automotive, said in the analysis.

“In order to stay within their budget goals, we have seen that more consumers — even those within the prime and super-prime risk categories — are turning to leasing and used vehicles as cost-effective alternatives to buying new,” she added.

Sharing more details about the leasing environment, in particular, Experian’s data indicates that nearly 29 percent of new-car sales in Q4 were leases. That has followed a similar upward trajectory as the aforementioned growth in leasing as a percentage of all new-car financing.

In a separate report from Edmunds.com, director of industry analysis Jessica Caldwell said there were approximately 346,800 leases in February. That represents nearly a third of new-car transactions, according to the data.

But here’s the vital kicker, the analysis said: the bulk of those cars will resurface and play a big market role as pre-owned in three years.

Edmunds has more on that in its 2015 Used Vehicle Market Report, including how leasing will affect certified pre-owned.