Car Leasing 101 - Short Term Car Leasing and Renting a Car

As we previously learned, auto leasing is an option that lets you pay for the portion of a vehicle you expect to use over a specified term, plus a rent charge, taxes and fees. It’s another means of paying for your vehicle on a short term car lease basis – ex. 24 – 36 or more months. You get to “borrow” the vehicle from a leasing company for a monthly cost and upon returning the vehicle, the car dealer can sell the vehicle for slightly used.

The closest option of leasing compared to renting, is what is commonly known as a short-term car lease. A short-term lease provides the consumer significant savings over renting if you’re driving the vehicle for 17 to 175 days (or more, depending where you live and the lease agreement).

Renting on the hand is another means of acquiring a vehicle to drive, but on an extremely short term basis, generally with high costs on a per day basis. Renting is generally known as driving the vehicle for sixteen days or less.

Part IV: Difference of short term car leasing vs renting