Why The Concept Of Leasing A Car Is Gaining Such Wide Popularity?

Gone are the days when commercial vehicle leasing was a big thing, now we're living in an  era where millennials are more interested in leasing cars rather than buying. You will be surprised to know almost one third of new cars around least and not purchased. This much more evident from the growing number of car leasing  schemes that are making their way in the automotive market of India. The  companies offering fleet management services are also getting into corporate car lease program in India.

So, why this car leasing companies can you so much popularity in India especially among youth?  Here are some reasons that may help you find the answer:

●    Firstly, the prices of new cars are continuously rising in India year after year. The average price of any New vehicle easily process 4 lakh to 5 lakh rupees price range. for most people was starting with their careers in MNCs or in government sector (which forms most of India’s  working class), this price is quite high  which makes lease agreement more affordable option.  monthly MIS even for the loans that are for long term I am much more higher than any single person can afford.

●     Secondly, car dealers as well as manufacturers have pushed up the benefits of leasing by offering exceptional car leasing schemes and discounts making these deals non avoidable.  The  payments are mostly Nova then loan payments and most are offered for either a very low or 0% interest rates.  Such special deals are offered on a monthly basis almost every other car company.  even if you need a luxury car or an executive sedan which is above your pay level you can easily  lease it from car leasing companies like Avis Lease.

●    Thirdly,  a major chunk of  present day consumer population is formed by millennials,  the age of these people ranges from mid 20s to mid 30s. This chunk  has a completely different opinion about life money and jobs and believes more in living life king size unlike their parents whose main focus was on saving for future even if it  Costa the standard of their lifestyle.

●    Car  leasing  comes up with relatively  short term obligation that goes from 2 to 4 years.  During  this time, client Acquire the new vehicle and drives a brand new car that is equipped with latest technology, style, features,  and comforts.  There  is not depreciation cost that one needs to worry about or over expensive loan payments that consume a considerable part of earnings.

●    Furthermore, it also takes away the hassle of car repair as the manufacturer warranty covers the complete duration of lease. In every 2 to 4 years the client  can return the car and start another lease with some other brand new vehicle or they can return the car and buy some another car  and the best one,  they can  buy that car and keep it forever.