How to buy a car by renting

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Leasing is a way of renting a car with the possibility of having a purchase option, but access to vehicle ownership is not its objective and it is not mandatory that this alternative exists. If you want to buy a car, you may be more interested in leasing. In this article we explain the differences between renting and leasing

How to buy a car by renting

Steps to follow:

Any natural or legal person can access the use of a car through this rental system. In renting, companies can find financial and tax advantages.

It can be applied to any make and model of passenger car and van, up to a maximum weight of 3,500 kilograms.

Depending on the real price of the car, the services offered by the rental company and the duration of the contract, the rental fees will be of one amount or another.

As for the time for which the car rental is established, there are no minimum or maximum legal terms. However, the usual thing is that the contracts oscillate between 1 and 5 years.

You must make sure that all the services that the company offers you are reflected in the renting contract: contracting insurance, maintenance and repairs, taxes, if you will have a replacement vehicle, etc.

Usually, the documentation that you will be asked for before signing the contract to buy a car through renting is your DNI, your latest pays lips and your personal income tax return.

If you act as a company, you must provide the deed of incorporation, the corporate tax return, annual accounts and VAT return.

If you decide to cancel the lease before the term established in the contract, the company may charge you a penalty. You have to clarify this point before signing the contract.

When you have finished the rental period, you must return the car. You can have the alternatives of expanding the operation or becoming the owner; however, it is something that you must specify beforehand, since ownership is not the purpose of this system of access to the use of a car.

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