Here’s what industry insiders say about car lease in India
By SMAS INDIA
16 June, 2022
The car leasing industry is growing in India. Many people prefer to lease cars rather than buy them outright. There are many reasons for this trend, but the main one seems to be that leasing offers many advantages over buying. This blog will discuss the benefits of a car lease and why more and more people are choosing to lease their vehicles. If you’re considering car Leasing in India, this blog post is for you.
What is a car lease in India?
Customers in developing countries still desire to own a car for various reasons. Firstly, owning a vehicle is considered as a status symbol. Also, the option of using a company car is not available to most of them and most importantly, they lack awareness about options such as car Leasing.
Customers of mature markets are now leaning more on users than on ownership, having completed the first stage of the ownership evolution—vehicle leasing.
The barriers to entry for customers in India are considerably higher when compared to other markets, with the process being complex and bureaucratic. However, this is changing to make the process easier for customers.
These companies are helping spread awareness about car leasing and making it more accessible to people in India. Car leasing in India is still in its early stages, but it has the potential to Grow. This is because it offers many benefits to customers, including the ability to drive a new car without making a sizeable down payment and the flexibility to return the car at the end of the lease period.
Here are a few advantages of leasing a car from SMAS India are:
You can get a brand new car without paying the total price upfront or down payment.
Leasing a car from SMAS India is more economical than buying one outright.
You can drive a luxury car for a fraction of the cost of owning one.
You don’t have to worry about selling your car.
If you are thinking about car Leasing in India, SMAS India is worth considering.
The different types of car leases in India
The two most common car leases in India are financial leases and operating leases.
Financial Leases: In a financial lease, the lessee pays for the use of an asset over the entire lease term. At the end of the term, ownership of the asset gets transferred to the lessee.
Operating Leases: In an operating lease, the lessor retains ownership of the asset throughout the lease term. In the end, the asset returns to the lessor.
So, which type of car lease is right for you? It depends on your needs and objectives. If you wish to own the car at the end of the lease term, a financial lease is likely the better option. If you need to use a vehicle for a set period and don’t want the hassle of ownership, an operating lease may be the better choice.
Drive your business with a corporate lease
SMAS India offers a total financing of the medium and heavy trucks/buses at showroom pricing, with the best RV and loan rates. As per your business needs, we provide a comprehensive vehicle solution from end to end. We have an experienced fleet team to assist with all activities, from vehicle assessment and end-to-end vehicle leasing solutions.
The employee’s vehicle lease is directly deducted straight from their salary before taxes are collected. As a result, the taxable income decreases, lowering the payable tax amount. The employee can upgrade to a new automobile at the end of the contract.
With our corporate leasing services, you can enjoy all the benefits of owning a vehicle without any of the associated costs or maintenance responsibilities. We take care of everything from financing and insurance to registration and servicing, so you can focus on running your business.
A car lease in India is becoming a more popular choice for those looking to get behind the wheel of a new car. If you’re considering leasing a car, SMAS India can help make the process easy and convenient for you. We offer a wide selection of vehicles from some of the biggest brands in the industry, and we are regularly updating our inventory to include the latest models. So what are you waiting for? Start your search today!