DUBLIN, July 16, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/6dh6dv/car_fleet_leasing) has announced the addition of the "Car Fleet Leasing Market in the US: Market demand and forecast 2015-2019" report to their offering.
The fleet car leasing market in the US to grow at a CAGR of 4.16% over the period 2014-2019.
Car leasing can be classified into two types: operating lease and financial lease. Operating leases are short-term leases, wherein the lessee pays the lessor the rental for the period during which the vehicle is on lease. Financial leasing refers to the lease arrangement wherein the lessee indicates their choice of asset and the lessor purchases the asset on their behalf. The lessee repays the cost of the vehicle in monthly instalments. Car leasing is usually available from the following sources: captive finance companies, commercial banks, credit unions, and independent leasing companies.
Captive finance companies are already prevalent in mature markets and are now attempting to increase their hold in emerging markets as well. They are trying to change their legal structure by acquiring full banking licenses. This will enable them to have access to low-cost funding and increase customer loyalty. They also provide consumers with various alluring offerings, from flexible payment terms to 0% financing. Many captive finance companies are offering retail banking products such as credit card facilities to increase their market share. Initially, captive finance companies such as General Motors and Chrysler provided financial services for their vehicles. Now, they made it a full-fledged business, and provide full-banking services to reduce their dependence on banks. General Motors acquired AmeriCredit (now known as General Motors Finance) and Chrysler entered into a subsidy agreement with Santander Consumer US to provide loans to subprime retail customers.
According to the report, most car purchasers use a specific car model for a few years, but with constant innovation in the automobile industry, there is an urge to stay updated with new models with improved safety features, fuel economy, and navigation systems. For instance, the DOT is working on guidelines to enable V2V systems that facilitate communication between two vehicles and that connect to cities for safety and better traffic, becoming a choice for many people. Leasing provides this opportunity to the lessee, to terminate the lease whenever required, to obtain a model with the latest technology.
Further, the report states that significant changes in market conditions and the anticipated rise in import/export duties may have a negative impact on the demand for car leasing in the US.
Key Vendors
- ALD Automotive
- Arval
- ExpatRide
- LeasePlan
- Sixt
Other Prominent Vendors
- Absolute Auto Leasing- Autoflex- CARLEASE- Cars Express- Executive Car Leasing- FairLease- First Class Auto Lease- Global Auto Leasing- High End Auto Leasing- Infinite Leasing- Pacific Auto Leasing- Platinum Auto Group- Plaza Auto Leasing- Signature Auto Leasing - Smart Auto Leasing- Universal Car Leasing- VIP Car Lease- Wheels to Lease- World Auto Group Leasing- Xclusive Auto Leasing
For more information visit http://www.researchandmarkets.com/research/6dh6dv/car_fleet_leasing
Media Contact:
Laura Wood, +353-1-481-1716, press@researchandmarkets.net
