How to get big and expensive cars without buying them?

Sristi Singh By Sristi Singh - Content Writer
4 Min Read

How to get big and expensive cars without buying them? While it is common to rent houses and household items, the trend of renting cars has also gained popularity. Nowadays, many people prefer renting cars instead of purchasing them, due to lifestyle considerations and the nature of transferable jobs. Companies like Hyundai, Mercedes, Mahindra & Mahindra, Fiat, and Skoda now offer car rental services under various lease schemes.

However, a significant number of individuals remain uncertain about whether it is more advantageous to rent a car or to buy one. To address this, it is essential to understand the car rental scheme and evaluate whether it is more beneficial to purchase a car or to lease one.

First, let us understand the lease scheme. Under this scheme, you can obtain a car directly from the owner without the concerns associated with resale value. Additionally, there is no requirement for a down payment or monthly EMIs. If you have a job that involves frequent transfers and you need a car for commuting, leasing a car can be particularly advantageous for you.

To lease a car, you need to select various options such as the car model, subscription plan, and mileage. You will also need to choose insurance coverage, rental terms, car switching options, and maintenance plans. Lease durations range from 12 to 48 months. Additionally, you must pay for one year of insurance upfront in the first month. Once the lease term ends, you have the option to extend the lease or select a different car.

Now, the question that arises is whether one should rent a car. First, you need to determine whether you require the car for a long term or just for 2-3 years. If you are residing in a city for two to three years, renting a car can be a viable option. However, if your stay is shorter, renting a car may become costly.

For example, if you purchase a car priced at Rs 50 lakh, you would need to pay Rs 1.19 lakh every month as EMI. Including the down payment, insurance, and maintenance, the total cost over three years would be approximately Rs 60 lakh. In contrast, if you lease the car, the monthly rent would be Rs 1.03 lakh. Over three years, this amounts to Rs 37 lakh. The primary difference is that, at the end of the lease term, you must return the car.

When you lease a car, vehicles available through monthly subscriptions typically have commercial license plates, indicated by black letters on a white background. If you travel from Delhi to Noida or Gurugram with such a car, you will be required to pay road tax.

Leising can be one of the best options if you are looking for something affordable and compatible as well.

Share This Article
By Sristi Singh Content Writer
I'm Sristi Singh, an expert in computer technology and AI. Adhering to Google's E-A-T policy, I ensure authoritative content. As a Computer Science Engineer with a journalism degree, I excel in conveying complex tech trends in an engaging manner. My dedication reflects in bridging the gap between intricate technology and my audience.
Leave a comment