pay monthly rent for the car instead of buying it. While this practice still raises doubts for many, the truth is Hiring doesn’t stop gaining followers and more and more companies and also individuals those who turn to this option to renew their vehicles. In fact, in the first four months of the year, companies dedicated to this business began to monopolize. 23.9% of all registrations registered in Spain, that is, almost one out of every four new vehicles.
This was made clear during the convention. Spanish Leasing and Rental Association (AER) held a meeting in Alicante this Thursday, where a positive balance has been struck in the evolution of the industry and good prospects were highlighted in light of the increase in business investment channeled through these formulas.
In the case of private leases, new investment grew last year 2,750 million € represents an increase of 22.2% across the country. The figures in the first quarter of the year continue to rise. Specifically, out of a total of 412,952 records recorded in Spain up to April corresponded to 98,583 rental companies42.3% more than AER data.
According to the president of the association, although most of the demand continues to be made by companies, the most growing segment is individuals. Jose Colonel de PalmaSome of this increase Doubts about the transition to electric vehicles and restrictions that began to apply to internal combustion engines in major cities.
“At a time of technological uncertainty, where city councils are starting to ban certain motor vehicles and it is unclear what will happen in three years, Many citizens prefer to buy the vehicle by leasing, knowing that two or three years may change. Another timeless tool,” says Coronel de Palma. platform economy, in addition to more information about the existence of this alternative.
In fact, he points out that the main challenge facing the industry right now is: supply chains are strictly normalized End the wait in the automotive industry and vehicle delivery.
On the other hand, the head of AER points out that another way to grow the business is through trade. financing of technological productsas with high-end phones, where many users resort to a monthly fee formula rather than purchase.
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when it comes hireSpanish companies invested last year 7.439 million euros 3.8% more to finance products with this formula. Of these, 643.8 million corresponded to the Community of Valencia and 137.5 million, especially to the province of Alicante, financing volume contracted by 10.23%.
However, this trend reversed in the first months of the year when investment volume increased. recovered up to 29% in the province. According to José Coronel de Palma, the reason lies in the patient’s recovery. tourismIt has led the companies in the sector to renew or buy new equipment under this formula.
In this sense, Coronel de Palmas draws attention to the increase in leasing demand throughout Spain in the first months of the year. companies increase their investments“In the face of strife over the past year over doubts over the consequences of the war in Ukraine. In this sense, the head of AER recalls that the evolution of leasing is often a “good thermometer of progress in efficiency business”.
In the same sense, the association underlines the low registered default level, which closed last year with 3.6%, even below 3.7% of the previous year.
What is the difference between renting and renting?
The main difference is that leasing is a financing formula that allows you to pay rent for an asset and then get it over the residual value, whereas leasing is a pure and simple leasing system where the owner does not have access to the property. the car or property in question. This last formula is the one that gains more followers among individuals, as it usually includes most of the car’s expenses such as insurance or maintenance.