Car Leasing 101 - Short Term Car Lease vs Renting a Vehicle

What Are the Differences Between Renting a Vehicle Vs Short-Term Leasing?

Renting a Vehicle

• Typically no residence restrictions
• Minimum age restrictions, typically 19 to 25 years (in most countries 21 is the minimum age). Often young driver surcharges are applicable. Some rental companies and countries may also have a maximum age restriction – typically 70 years of age.
• More selection of vehicles, including recreation vehicles (RV’s), sport utility vehicles (SUV’s), trucks, domestic and foreign cars including luxury and sport cars.
• A variety of locations to pick up and drop off the vehicle after the vehicle rental period has ended. Ex. Rent a sports car in Toronto , Canada and drop off in Los Angeles , California , USA . If the rental company is established in different countries, states or provinces, the option to pick up and drop off in any location is usually available. International one-way rentals may require drop-off fees.
• In most countries, collision damage waiver is extra, or requires paying a higher inclusive rate.
• Typical rates include VAT of 16-20% or more. Major city locations and centres, such as airports, may impose surcharges.

Leasing a Vehicle Short-Term

• A short-term vehicle lease can provide the consumer with significant savings if they’re driving for 17 to 175 days, or 1 year for teachers, students, and workers on temporary visas.
• Short-term leasing of a vehicle is available only to drivers who live outside the EU or how have temporary visas.
• Short-term leasing of vehicles may only be limited to certain vehicle types, depending on the country, state or province.
• Is only available to drives who are licensed and 18 years or older
• Short-term leasing have options to pick up and drop off at any authorized locations. Certain locations within Europe , excluding France , incur pick-up and/or drop-off fees.
• No VAT or airport or cit fees applicable
• Full insurance is included with no deductibles.

Now that you're aware of the differences between short term car leasing and renting a car, let's look at the advantages of a car lease.

Part V: Advantages & Benefits of Car Leasing