"To Lease or not to Lease, that is the Question"

By Carla Martin
‍Customer Relations Manager at ExpatRide

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The Leasing Department at ExpatRide International is asked this question often. Not in the exact words of The Bard of course, but more along the lines of “What are the benefits of leasing over renting a vehicle?”, and “Would it be more economical to purchase a pre-owned car rather than lease a new one?”

Leasing vs. Renting

When looking for a long term solution, leasing usually works out to be the more economical option. The main differences between the two are:

Leasing

• Usually starts at 24 months
• You only pay for the amount the vehicle is expected to depreciate during the lease term
• Often times, the lease agreement can only be as long as the work visa is valid
• Lease agreements require an initial payment
• In most countries, insurance is a separate cost

Renting

• For anyone who needs a car from 1 day and beyond
• Insurance is included
• An international driver’s license or the driver’s license from the employee’s home country is required
  (local driver’s license is not needed when renting a car)

Lease new vs. purchase used

Again, leasing makes more sense economically when it comes to deciding between purchasing a pre-owned car and leasing a new one. The monthly payments of financing a used vehicle are typically higher and, in addition, the maintenance costs for a pre-owned vehicle are also more expensive.

Want to learn more about leasing vs. renting?
Contact CARS@ExpatRide.com or visit www.expatride.com/corporate

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