Commuting being an important part of human lives has lead us to find the best mode for commute. Cars indeed being a good option, the domestic population often backs out due to high running cost in the country. The one's who can afford to go for a new vehicle are now also exploring leasing options. Leasing has been popular among corporates, but this time around working professionals as well as self-employed individuals are considering these options.
Speaking more on the subject, Rahul Maroli, general manager-commercial (sales and marketing), LeasePlan India Pvt. Ltd said, “This sector is still maturing, but compared to about 15 years ago, we are seeing many more professionals (doctors, engineers, architects, lawyers and so on) and self-employed people going in for leasing cars. Though we do not see many retail individuals coming to lease cars, we could possibly see a change in mindsets in the next five-six years. At present, however, we do not lease to individuals.”
Leasing out a car is not difficult, you can do so with just some basic documents like residential proof, income proof and id proof. Depending on the nature of lease agreement, you can keep the vehicle for any period between 3 – 5 years. Leasing primarily is done in two formats namely – financial leasing, wherein you have the option to buy the car from the leasing company. The other option is operational leasing, wherein all you need to do is pay for fuel whereas other factors like insurance, maintenance, repairs and more shall be taken care off by the leasing company.
Some of the leading companies that offer leasing services are ORIX Auto Infrastructure Services Ltd, Avis India and BNP Paribas-owned Arval India Pvt. Ltd. Luxury carmakers like BMW Motors Pvt. Ltd and Mercedes Benz India Pvt. Ltd, also has their own leasing arm. Speaking more on the trend, Eberhard Kern, managing director and chief executive officer, Mercedes-Benz India said, “We have received very encouraging response for our leasing programmes. Private leasers in addition to companies, self-employed and small and medium enterprise owners prefer leasing as it is hassle-free.”
Source: LM
