10 Doubts Resolved About Buying a Car by Renting

If you have thought about buying a car by renting or have doubts about this modality, of increasing popularity in recent years, we will solve the main issues of renting in this article,

Buying a car by renting has become popular in recent years. This form of acquisition of a vehicle was known in companies, which obtained different benefits in addition to the use of the car itself. But the popularity of renting has transcended beyond, and now the channel of individuals reviews this option as an interesting method. So there are no doubts here we leave you 10 questions about buying a car by renting.

What does renting include?

In a renting they will include:
  • Registration and transportation.
  • Vehicle maintenance
  • Car repair in case of breakdown with replacement vehicle if necessary.
  • Change of tires.
  • Penalty claim service.
  • Insurance (in most cases at all risk without deductible) with roadside assistance.

What does not include renting?

  • Gas.
  • Damage to the vehicle resulting from misuse or negligence on the part of the driver.
  • Fines

What kind of contract is it?

The type of contract you will face in a renting will be different in each case. Depending on the client's needs, the clauses will be one or the other. Of course, there will be common obligations such as respecting the use by authorized drivers.

What are the advantages?

  • The amount of insurance, financial, maintenance and spare parts will be included in the same installment.
  • At the end of the contract you can choose between returning the car or paying to stay with it (leasing).
  • You will have a replacement vehicle whenever yours breaks down.
  • You will benefit from certain services offered by the renting company.
  • You will renew your car every few years.

What are the disadvantages?

  • The car will not be yours, it will belong to the company with which you have signed the rental contract.
  • If canceled early you will have to pay a penalty for cancellation.
  • You will not be able to make any changes to the car.
  • You must make repairs in the workshops indicated by the company.
  • If you do not pay the monthly payments you will have to face legal actions, returning the vehicle or paying a penalty for non-payment.
  • If you exceed the agreed kilometers you will have to pay a penalty. Of course, if you do not reach those miles you can receive a bonus.

How many years are?

The contract years will also depend on what was agreed between the seller and the customer. Normally, at least, it will be one year, and at most six.

What differences exist between financing the vehicle and acquiring it from renting?

In the renting, unlike in a financing, they will include these payments:

  • Entry.
  • Insurance.
  • Registration and circulation tax.
  • Tires
  • Maintenance.

What are the tax advantages?

Depending on whether you are private, company or self-employed:

Individuals: You do not have the right to a tax deduction.
Company: Deduction of 100% of the amount of the monthly installments of your renting in the Corporation Tax.
Autonomous: Deduction of the amount of your monthly rental quota in the IRPF Direct Estimation Regime. Of course, as long as it certifies that it is necessary for the development of their professional activity.

What brands offer it?

As we say, more and more brands offer this service. Some of the ones that offer the most benefits are Volkswagen, Renault or Audi. Also note BMW, Toyota and Mercedes. Likewise, there are companies that are dedicated to managing this service.

Can I buy a second-hand rental car?

In most cases it is not possible to buy a second-hand car through renting, although there are external companies that do offer this service.