At the moment when the need to get a vehicle arises, the first thing that comes to mind is to buy a car in the most conventional way. However, the idea of mobility is changing rapidly, so it is worth considering other options before opting for the more traditional one. In fact, leasing and renting have grown a lot in recent years, since the vision of society has changed. Now, we know that it is no longer necessary to pay the full value of a vehicle, but that we are presented with alternatives that allow us to brand new cars without the need to tie ourselves to it for years.
Advantages and disadvantages
Leasing is defined as a financial leasing contract whereby an entity gives us an asset, in this case a vehicle, for a period of time in exchange for paying periodic installments. Leasing differs from other alternatives especially by the option it offers, at the end of the term, of keeping the car, as long as a final installment is paid that covers what remains to be paid of the total price of the vehicle. Although it is not an obligation, since we can also choose not to keep the vehicle, returning it to the dealer or signing a new leasing contract to transfer another model to us. In addition, the legal minimum duration of the contract is usually two years.
Renting , for its part, is based on a long-term rental contract through which a company buys a vehicle, according to the tastes and needs of its client, to make it available to them, in exchange for payment of a fixed monthly fee. for a period of time and a previously agreed mileage. The client will not only have the right to use the car, but will also be able to dispense with a good part of their expenses such as insurance, maintenance, roadside assistance, registration, taxes, tire change, the management of fines, among many others. In addition, there are no legal limitations, although the maximum duration is usually sixty months.
What is the difference between them?
It is true that both options share many similarities . However, it is also true that between renting and leasing there are some differences that make, depending on our needs, one or the other is more convenient for us. The first difference is the purchase option, because while the leasing is aimed at the final acquisition of the vehicle, the leasing contract does not have to offer this purchase option at the end of the period. Other clear differences between the two is that renting offers added services, while leasing does not contemplate them, unless an additional maintenance contract is signed.
Be that as it may, both leasing and renting have become in recent years, thanks to all the benefits and advantages they offer, good alternatives for those users who decide not to buy a vehicle . The only important thing now is that you choose between the two alternatives that we have proposed. We hope we have helped you better understand the purpose of each of them so that you end up choosing the option that best suits your tastes and needs.
