buy today car A riskier financial bet than in the past. With rising prices and a horizon slowly moving toward electrification, yet unsure whether infrastructure will be ready, determined or compelled citizens are weighing their options. They increasingly research and bet on alternative formulas to the traditional purchase, and the rental with option to buy model is gaining momentum amid sector uncertainty.
Despite 2022 when vehicle registrations fell by 5.4 percent due to the supply crisis that constrained production, the leasing and rental channel eased its impact on passenger car numbers, showing a 1.4 percent decline instead. Early in the year the trend remained favorable for this channel, with passenger cars up 42.2 percent in the first four months of 2023 compared with the same period in 2022, nearly nine points higher than the overall registration increase in Spain. Insights from José Coronel de Palma, president of the Spanish Leasing and Rental Association (AELR), at their annual meeting in Alicante describe the scene as remarkable growth. He notes that this expansion reflects a shift in consumer behavior driven by price sensitivity and flexibility needs across the automotive market.
factors
He emphasizes a moment of transition where the future of electric cars and the eligibility of vehicles for city center access remains uncertain. In this climate, many people prefer paying only for the use of a car and retaining the option to exit if technology or regulations render a vehicle obsolete. The price pressure in the market also shapes decisions; a recent report from the Organization of Consumers and Users highlights price increases of up to 40 percent over the last five years. The perspective of many buyers is simple they might be able to afford a monthly lease of a few hundred euros but not a full purchase price of tens of thousands. Coronel de Palma adds that this shift signals a broader rethinking of ownership and a move toward utilization over ownership as the norm for many households.
Looking at the early trajectory for 2023, the AELR chief remains cautiously optimistic about the year ahead, provided new issues do not arise in vehicle availability because of logistics or supply chain constraints that could slow deliveries. The sense from industry leaders is that stable supply and clear policy signals would bolster consumer confidence and sustain the favorable momentum seen so far.
leasing investment
In the broader picture of asset financing, total investment in leasing including options to buy reached 7,439 million euros in 2022 in Spain. The bulk of this volume went toward personal property assets, totaling 6,841 million, while real estate accounted for 598 million. For the 2023 outlook at the Valencia level, Coronel de Palma highlights strong progress driven by renewed business confidence and expectations to reach higher leasing volumes by year-end. The year is projected to continue the upward trend seen in prior periods, supported by steady demand and favorable market conditions across consumer finance and fleet management sectors. This momentum underscores how leasing remains a vital channel for asset acquisition, providing flexibility and risk management for both individuals and organizations amid ongoing market adjustments.