The Recent Surge in Automotive Leasing
A car makes traveling easier and much more convenient. When you have your own car, all that you have to do is put gas in it and you will be ready to go. What about those who don’t have cars of their own? What can they do? For such as these, there are car leasing services available for them. Also known as automotive leasing, this is a service where you can pay a fraction of the actual value of a car so as to use it for a given period of time. This period of time can range from 3 to 5 years. The amount that you pay for the car represents the projected amount of depreciation that the car will suffer over the period that you will use it. You can lease a new car or a used car. Most people prefer to lease new cars. This allows them to get more value for their money in terms of vehicle reliability than if they were leasing a brand new car. Read on to learn more about automotive leasing.
What exactly is automotive leasing?
The concept of leasing is not new in the world of business. It has been used in the real estate and construction equipment industries for decades. Automotive leasing followed these industries and has been around for roughly 30 years. Many people confuse car leasing and car renting. They are not the same.
Renting a car means that you pay a flat fee for the period of time when you will use the car. This time can range from a week to a year. You can pay for the car monthly or quarterly. After that, you return the car and the deal is done. In leasing, the amount that you pay …