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Job Needs And Car Leasing Market Growth To Impel Owing To Growing Awareness Regarding The Financial Benefits Of Car Leasing

The global job needs and car leasing market is predicted to witness a healthy CAGR during the forecast period (2019 to 2028), according to a report available on Radiant Insights, Inc. Car lease is defined as a long term agreement between two parties, lessor and lessee. According to this agreement, lessee pays rent installments to the lessor for a specific period against a car. Once the lease term is over, the lessee has an option to either return the vehicle to the leasing company or purchase it for the residual value. 

Rising demand for convenient ways among consumers to own a vehicle is anticipated to propel market growth. Benefits such as no down payment, low monthly installments, and tax benefits make it easy for consumers to get a car on lease. Growing awareness regarding the financial benefits of leasing a car is expected to impel market growth. Organizations are ready to provide additional perks to the employee who agrees to get a vehicle on lease. Such perks include reimbursement of driver’s salary and running and maintenance expenses on monthly basis. In addition, at the end of lease period employee is given an option to purchase the vehicle at its residual value.

Access "119" page research report with TOC on "Job Needs and Car Leasing Market" available with Radiant Insights, Inc.@

To cater to rising demand for cars, leasing companies are designing advanced programs to offer maximum benefits to consumers. For instance, in May 2019, Hyundai Motor India Limited in collaboration with ALD Automotive India launched lease service for its consumers. The service is aimed to reach wider consumer base including salaried individuals, working professionals, and small medium enterprises. The company has initially launched the service in few cities including Delhi NCR, Bengaluru, Chennai, Hyderabad, and Mumbai.

The job needs and car leasing market cab be segregated on the basis of product type, application, and region. Based on product type, the market can be categorized into truck lease, car lease, van lease, and sport utility vehicle (SUV) lease. In terms of application, the market can be classified into government, business, personal use, and others.

Regional segmentation includes North America, South America, Asia Pacific, Europe, and Middle East and Africa. North America is anticipated to dominate and account for highest market share over the forecast period. This is attributed to presence of major leasing car leasing companies in the region. Growing awareness among consumers regarding financial benefits of leasing car than buying it is driving regional growth. In addition, introduction of new plans by lessor to gain traction among consumers will drive regional market growth over the forecast period.    

Some of the key players in the job needs and car leasing market are Yestock, Enterprise Holdings, Hertz, Avis Budget, and ALD Automotive.
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