Auto Leasing Market is estimated to be US$ 138.89 billion by 2030 with a CAGR of 7.50% during the fo

Ritvik02 Aug, 2023Business

Auto Leasing Market accounted for US$ 67.54 billion in 2020 and is estimated to be US$ 138.89 billion by 2030 and is anticipated to register a CAGR of 7.50%. Auto leasing is used as a motor vehicle for a fixed period of time. It includes vehicle funding maintenance and residual risk handling. Vehicle leasing is majorly used for auto vehicles for a fixed period at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is rapidly used by a business as a method of acquiring vehicles without the use of needed cash outlay. Auto leasing offers advantages for both buyers and sellers, for the buyers, lease payment will usually be lower than payment on a car loan would be. Any sales tax is due only on each monthly payment, rather than immediately on the entire purchase price as in the case of a loan.