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Is car leasing a good option in India?
What kind of leasing options do I have? There are two kinds of leasing models—finance leases and operating leases. Corporates usually follow the operating lease model where you either return the car to the lessor or purchase it at the prevailing market value at the end of the lease tenure. What is the biggest USP?
Is vehicle leasing a good idea?
Leasing a car has potential benefits that may appeal to some drivers: Lower monthly payments: Monthly payments for a car lease are usually lower than monthly car loan payments, so leasing could mean spending less money each month to drive the same car. When you lease, upon the end date, you simply return the vehicle.
Is leasing a waste of money?
The major drawback of leasing is that you don’t acquire any equity in the vehicle. It’s a bit like renting an apartment. You make monthly payments but have no ownership claim to the property once the lease expires. In this case, it means you can’t sell the car or trade it in to reduce the cost of your next vehicle.
Do celebrities buy or lease cars?
What’s worth noting (and what’s not terribly surprising) about this is that most celebrities do tend to buy over leasing. Of course, not everyone is in a position to do that and leasing is a perfectly acceptable option if that’s what your budget allows.
How does leasing a car work in India?
Here is how leasing works in India: When you lease a car, you can drive a vehicle for a fixed period without actually owning it. You need to make regular lease payments for using the vehicle during the lease period. At the end of the leasing period, the lessor may allow the user to purchase the vehicle at the prevailing market price.
What are the benefits of leasing a car for a company?
Leasing can benefit companies in multiple ways. The most important advantage is that they can have a fleet of vehicles for a fixed amount without worrying about additional expenses for maintenance and repairs. Once the car lease tenure is over, corporates have the option of buying the vehicle at the residual price.
What types of vehicles do corporates lease?
Corporates typically use the leasing service for a variety of vehicles including employee cars, light commercial vehicles, heavy duty trucks, etc. This requirement is likely to vary from one company to another.
How can leaseleasing help your business?
Leasing is a smart move for any business to optimise its costs on vehicle procurement and fleet management. So whether you need one car or a few hundred, LeasePlan can help achieve significant cost savings, reduce administrative hassles and increase productivity.