Auto Leasing Guide
Go to LeaseGuide.com now !

Difference Between Car Leasing and Renting Belen NM

Car renting and car leasing are often incorrectly viewed as the same thing. Leasing is a form of car financing, much like a loan. Car rental companies exist to fulfill the short-term automobile use needs of traveling business people, vacationers, or those who might need a particular type of vehicle for temporary use.

Las Cruces Shuttle & Taxi
(575) 525-1784
Po Box 3172
Las Cruces, NM
 
Rent A Wheel
(575) 523-9770
110 W Picacho Ave
Las Cruces, NM
 
Hertz Penske Truck Rental
(575) 526-7931
344 Keathley Dr
Las Cruces, NM
 
Penske Truck Rental
(575) 526-9024
2001 S Valley Dr
Las Cruces, NM
 
Rio Transit
(505) 994-1608
4330 Meadowlark Ln SE
Rio Rancho, NM
 
Budget Rent A Car
(505) 344-7196
3501 Pan American Fwy Ne
Albuquerque, NM

Data Provided by:
Enterprise Auto Rental
(505) 248-9933
502 Clark-Carr Loop Se
Albuquerque, NM
 
Enterprise Rent A Car
(505) 994-2000
1550 Rio Rancho Dr SE
Rio Rancho, NM
 
Avis Rent A Car
(575) 522-4406
700 S Telshor Blvd
Las Cruces, NM
 
Hertz Corp
(575) 521-4807
705 S Telshor Blvd
Las Cruces, NM
 
Data Provided by:

Difference Between Car Leasing and Renting

Many automotive consumers assume that car renting and car leasing are the same thing, or are very similar.

Not true.

This misconception may come about from the fact that apartment renting – which is very familiar to most people – and apartment leasing are essentially the same thing.

It is therefore natural for someone not familiar with car leasing to assume that it is much like apartment renting or leasing.

It is not.

What is car renting?

Car rental companies exist to fulfill the short-term automobile use needs of traveling business people, vacationers, or those who might need a particular type of vehicle for temporary use.

Rental cars are owned by a rental company and are made available to customers for relatively short-term use. The company maintains and services its vehicles and carries basic insurance. Customers agree to not damage the vehicle, to buy gas, to purchase additional insurance if personal auto insurance is not applicable, and to return the vehicle within a specified time. All maintenance is handled by the rental company.

Rent rates are determined by the car rental company, based on a daily or weekly fee, and includes either unlimited mileage or an additional mileage rate. The method by which rates are determined is not revealed to customers and can vary widely, even within the same rental company, based on various discount schemes.

Rental companies make money by renting the same car over and...

Click here to read the rest of this article from Lease Guide