Car renting and car leasing both imply to using a vehicle owned by some other person or company and paying for the same. But the similarity comes to an end after this. There is a whole lot of difference between car renting and car leasing services in Singapore. Here are they as under –

• Term of agreement – Usually car leasing is a long term contract that typically lasts for three years. The lessee is allowed to use the car during the contract period and then return it to the leasing company in proper condition not taking into account normal wear and tear. The lessee is required to pay monthly installments towards the financial charges for leasing the vehicle. Driving in Singapore can be an exciting experience when you get the opportunity to hire your dream car over a lease. Car renting on the other hand is a short term contract and usually ranges from a few hours to a few days or weeks. Car rental prices are negotiated by the rental company at the time of rental.

 

• Costs involved – Car lease is very similar to an auto loan where customer is required to pay monthly EMIs. As cars are leased for a longer duration, the costs are far less as compared to daily or weekly rates of car rentals. Due to this reason it is not feasible to opt for car rental services for long term basis. If you know that you have to use a vehicle for a longer time, you should go for the lease option. On the other hand, if your requirement is only a matter of few days or few weeks, then car rental is more viable. In leasing the lessee is required to pay for the taxes and bank fee etc. during the lease period. On the other hand in car renting, the rental company is responsible for all kinds of maintenance and taxes of the cars. The customer is just liable to pay the charges for car usage that is daily car rent and fuel expenses based on daily mileage covered.

Singapore car leasing business offers many different kinds of cars for your purpose; top car brands ranging from Audi, BMW, Honda, Lexus, Mercedes-Benz, Toyota, Volkswagen, and Volvo etc. are available. If you are looking for Singapore limousine service to celebrate your big day or to impress your clients, you have a wide range of choices in this regard too. Whether car leasing or car renting is concerned, in Singapore you have a lot of opportunities to get the best possible deal.