Your next car: buy or rent

More and more people around the world are taking long-term car hire: companies that provide such services are constantly increasing their market share.

To understand how promising it is to rent cars in developed countries, it is enough to know that in 2016, the volume of this market in the US was estimated at 58 billion dollars, and by 2022 it is forecast to grow to 125 billion dollars.

This situation is due to the fact that leasing, as one of the forms of lease, has objective advantages over the full possession of the vehicle. Rapid progress in automotive engineering, the aggressive growth of the segment of hybrid and electric vehicles, as well as some other factors only increase this trend.

However, both the purchase and rental of vehicles have their advantages, which can be decisive for some and not relevant to other users.


Your next car: buy or rent -1

Benefits of buying:

  1. Lack of stress . People who own a car are less likely to experience any possible damage. And although insurance for renting covers such cases, anxiety is still often present - this is a feature of the local mentality.
  2. The car you need is in stock . An auto in a garage or in a parking lot allows you to use it at any time. In the rental offices you need a model may not be available. Rent (except for leasing) or even a taxi will not allow the use of a vehicle, if the need for it arose unexpectedly.
  3. Less overpayment . The ability to sell a car at the end of its use allows you to return a certain amount of money, which makes buying more profitable in the long run. Leasing, not to mention the rental of cars by announcements, as a result, costs more.
  4. No restrictions . Leasing often involves limits on maximum mileage or other restrictions. Owners of vehicles may not be worried about this.
  5. Freedom of action . The owner can tune the car to your liking or even destroy it. In the case of a rental, this will result in material reimbursements to the lessor.


Your next car: buy or rent -2


Benefits of Lease:

  1. Speed of movement . Long trips on your own car are depleted, and travel by train or plane can be much faster. Before you go, for example, from Kiev to Odessa or Lvov by car, consider renting a car on the spot.
  2. The cost of travel . Leasing is not associated with significant costs, which are often forgotten before buying a car. Among them, the price of the vehicle itself, the cost of registration, insurance, taxes, maintenance, repair, storage in the garage or at a paid parking lot.
  3. Loss of cost . When renting you do not own a car that is constantly cheaper. Within a year after purchasing a new car, the buyer loses about 20% of the amount left in the car dealership. Advocates of leasing or short-term car rental and day-to-day use of public transport (including taxis or services such as UBER) argue that having no own car is more profitable from a financial point of view.
  4. Reliability . Leasing or renting a rented apartment, as opposed to an acquisition, is usually not associated with significant stress: sellers do not deceive, repairs are always on the shoulder of the landlord, the car does not like it or it is out of date - it can be returned (examine the terms of the contract) and take lease other. Want to try a hybrid car or electric car - take it for rent, because it will turn out more reliable and often cheaper. In the case of a lease or, moreover, a short-term lease, you will be able to change more frequently the cars you are moving on. At the same time, it is more likely that they will be new or almost new, in an ideal or close to ideal condition.
  5. Expectations and savings . It's not necessary to set aside for a few years to go by car. Even buying a loan often requires a significant down payment and links the buyer with commitments for at least several years until the loan is repaid. If you want to take away your credit burden, you have to sell a car that is on the pledge, and to such options, potential buyers are cautious.


LeoDrive offers the hire of Toyota RAV4 hybrid crossover in Lviv. For booking, call us or visit our office.