2007-03-20 01:14:33 · 6 answers · asked by Student 1 in Cars & Transportation ➔ Buying & Selling
Renting is for a short period of time...usually a few days to a week.
Leasing is for several years and requires a big payment upfront.
2007-03-20 01:17:14 · answer #1 · answered by Anonymous · 0⤊ 2⤋
Great question!
A car rental is typically a short-term deal, generally 30 days or less. Leasing is similar to "owning" a car. You typically lease a car for a minimum of 24 months, but can be as much as 48 months or longer.
Leasing, no matter WHAT the car dealerships tell you, is generally NOT a good idea. It sounds like a great deal up front...you don't have to "take the depreciation" on the car, you just "pay for what you use", and the "payments will be lower." All of this is true, but if you look at leases, by the time you examine security deposits, extra mileage charges, maintenance, etc, you pay almost as much as you do when you purchase the vehicle. The only difference is, after the end of the lease, you've got NOTHING. You've got to turn the car back in.
Car dealers make MUCH more money on a lease than they do on a SALE of a car.
Short term, if you need a car, rent one. Long term, it's best to BUY the car you can afford. Don't get caught in a FLEECE.
2007-03-20 08:20:29 · answer #2 · answered by Scotty Doesnt Know 7 · 2⤊ 0⤋
When you lease, the responsibilities of registration, maintenance, etc are the lessee's. A rental agreement implies that these are included (except for fuel and damage). Also a business would lease a car because they could show an asset which they can amortise and write off against tax where if they rented it, then it would be pure expense.
2007-03-20 08:29:43 · answer #3 · answered by olly_olemassa 2 · 0⤊ 0⤋
Well, leasing you do at a dealership, and renting you do at a Rental car place. (I've worked at a car rental place, I've seen customers come in once a month and renew their contract). I thought they were different but the more I think about it they are the same, you can lease for long term on both, you pay for mileage on both, and you pay taxes on both, and you have a rental/leasing cost per month, (how ever you have it set up on your contract)., and you have a signed contract. I think the difference would be cost, and credit check (for leasing).
2007-03-20 08:20:05 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Car renting is a more short term arrangement and is done mostly when you go to a different place than where you live. For example, you live in Chicago and you go to LA to see Disneyland. So you rent a car at airport.
Car leasing is a more long term arrangement and is done in your home town. You "own" the car and are responsible for its upkeep until the lease term expires.
2007-03-20 08:18:42 · answer #5 · answered by Sai P 3 · 0⤊ 2⤋
YOU RENT A CAR FOR A FEW DAYS OR SO, HOWEVER LONG YOU NEED IT. yOU LEASE A CAR FOR A TERM LENGTH (3 YRS. USUALLY) . IT'S A LITTLE CHEAPER THAN BUYING.
2007-03-20 08:19:25 · answer #6 · answered by H.E. G 4 · 0⤊ 2⤋