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Today’s customers seek cost-effective alternatives to traditional car ownership, prompting established players and innovative startups to collaborate and offer unique leasing plans and tech-driven solutions.
Used car leasing provide a transformative growth opportunity for global leasing companies—particularly those that leverage relatively newer used cars—revealing revenue streams beyond traditional leasing, including asset realization.
Used car leasing provides a valuable avenue for customers in search of flexibility. This involves offering a variety of short-term and long-term leasing plans, personalized leasing plans, and even subscription-based plans.
A noteworthy industry best practice gaining traction in the used car leasing sector involves providing customers with a service guarantee to alleviate their concerns. Additionally, some players enable car swapping and the option of zero down payment as attractive business models.
A strategy that has proven successful for players looking to set themselves apart from their competitors is allowing end-customers to deploy leased cars on car-sharing platforms.
There are certain constraints that limit the [used car leasing] industry’s potential, including supply chain hurdles and the need to navigate regulatory changes. However, this is a significant growth opportunity awaiting leasing companies that choose the right avenues and pursue transformative growth."