Your next car: buy or rent!

Thomas Wachsmuth 14 November 2022 Advertising, Credit, financing, leasing, insurance & Co.

Reading time 4 Min.

More and more people around the world are opting for long-term car rental. Companies offering such services are constantly expanding in the market. In order to understand how successful car rental is in the developed world, one only needs to know that the volume of the market in the United States alone was estimated at $2016 billion in 58 and is projected to grow to $2022 billion by 125.

This is due to the fact that leasing, as one of the forms of renting, has objective advantages over buying the vehicle. The rapid advances in the automotive industry, the aggressive growth of the hybrid and electric vehicle segment, and a few other factors are fueling the trend. And one should keep in mind that car rental is also a method to test drive a car before buying it. Especially if you want to buy an expensive car, maybe even a luxury car. That means you can about one Rent a Bentley and drive it for a few days or months. After that you will know whether this car suits you or not.

What are the advantages and disadvantages of buying a car compared to car rental follows now. Both buying and renting vehicles have benefits that may be critical for some and unimportant for others.

Benefits of buying:

No stress.
– People who own a car worry less about possible damage. And although the rental insurance covers such cases, the fear is often still there.
You must have a car available.
– A car in the garage or in the parking lot makes it possible to use it at any time. Rental agencies may not have the model you need. In the case of a rental, you cannot use the vehicle if it was unexpectedly rented out.
Hardly any restrictions.
– When leasing, there is often a limit on the maximum kilometers that you can drive or other restrictions. Buyers of a vehicle usually do not have to worry about this.
freedom of action.
– The owner can tune the car to his liking or sell it at any time. Even an accident is less serious. However, in the case of a leasing contract, this leads to the material compensation of the lessor.

Advantages of renting:

speed of movement.
– Long journeys in your own car are exhausting. It is sometimes much faster by train or plane. Before you go on holiday by car, consider whether you can rent a car locally.
cost of the trip.
– Leasing involves significant costs that are often forgotten before buying the car. These include the price of the vehicle, the cost of registration, insurance, taxes, maintenance, repairs, garage placement or paid parking.
depreciation
– When you rent a car, you do not own a car that is constantly depreciating in value. Within a year of buying the new car, he loses about 20% of the new price.
reliability
– Leasing or renting, unlike buying, is usually not associated with stress: the sellers will not cheat you, repair work is at the expense of the lessor, the car is not outdated and if it is, then it can be returned. If you want to try a hybrid or electric car, rent one because it's more reliable and often cheaper. With leasing or especially short-term rentals, you can also change the vehicles you drive more often. The vehicles are more likely to be new or nearly new and in perfect or near perfect condition.
expectations and savings
– It is not necessary to save money for several years. Even buying on installments often requires a large down payment and locks the buyer into the vehicle for several years until the loan is repaid.

Of course, that wasn't the end of it!

tuningblog has countless other articles on the subject of car and auto tuning in stock. Do you want to see them all? Just click HERE and look around. In part, we would like to provide you with news but also off the tuning. In our category Tips, products, information & Co We have reviews of car or accessories manufacturers, new ones Tuning Wiki Terms or one or the other Leak veröffentlicht. Just click on one of the following posts!