Family or some like to do it solo. While some take their vehicle to travel out of the station and explore places with their own cars, others do it by renting cars from various car rental services in their surrounding.
The global car rental market has witnessed significant growth in recent years. The trend is not just in big cities; rather, it is growing in small towns, giving a boost to car rental service providers in the market.
Why Car Rentals Are Becoming Popular
1. Freedom from Ownership
While buying a car is somewhat expensive, renting a car gives you financial freedom to rome around freely without having much of tension of budget and expenditure. It gives freedom from loan, EMIs, and other payments. All you have to do is just pick your favourite car as per your needs and rent it accordingly.
2. Perfect for every occasion
Imagine lending a car for a wedding, business trip, family outings or so. You can lend luxury sedans, SUVs, and hatchbacks, as per your fuel requirements.
3. Stress Free Maintenance
There is never stress for the maintenance of the car for the client. All this is done by the car owners themselves. So, while booking your car, you get fully maintained,washed, cleaned and santized car by the owner.
4. Affordable for all kinds of Trips
For many people, renting a car is somewhat expensive for people. Imagine having a car for your outings without any stress. All you have to do is to pay a subsequent amount to the car owner, and the car is yours for the time period..
Recent Growth of Car Rental Market
The car rental industry has grown significantly in the past few years in Indian markets. Easy and flexible bookings, sanitized cars, flexible payment options, all have provided a boost to the industry. Today, car rental companies are providing various services to clients-
- Self-driven car for those who prefer driving car on their own.
- Chauffeur driven cars for those wanting relaxed and comfortable ride with professional drivers.
- Various packages like hourly, daily, or monthly as per various budgets.
Various factors like urbanization,rising fuels, increasing taxes has diverted people from buying cars to renting cars.
Benefits of Renting a Car for Individuals
- You need to Ppay only for the time you needed car..
- You can rent from a mini hatchback to SUV to sedan or a luxury car, as per your needs.
- Booking ensures the privacy and comfort of the customer. You are free to go anywhere where you want to.
- You can always try the car before renting it.
Benefits of the Car Rental Market for Businesses
The growth of this industry has also created new opportunities for businesses:
- More drivers, service staff, and support teams are needed.
- Travelers love exploring new cities in rental cars, which supports local tourism.
- Companies are now introducing electric and hybrid cars in their fleets, reducing pollution.
Car Rental vs. Ride-Sharing Apps
Many people are often confused about booking cars via car booking apps like ola or uber. The answer is just simple-
- Ride-sharing apps are good for short, one-way rides.
- Car rentals are better when you need a vehicle for the whole day, multiple stops, or longer trips.
- Rentals give you more control over your travel plan and can be much cheaper if you are traveling long distances.
Future of the Car Rental Market
The future of this industry, as believed by experts, looks bright. People would tend to rent more cars due to increasing expense and taxes being added to them. This will surely help the car owners to increase sales and make a profit from the market.
Experts suggest that electric cars could bring a significant change in the car rental industry, as it is free from lots of maintenance caused by fuel-operated cars.
Conclusion
The car rental market is changing the way people used to think about travelling and car ownership. While renting gives you the joy of driving without the stress of ownership, on the other hand, it is budget-friendly, flexible and comfortable for a modern lifestyle.
Whether one is a student, working professional, tourist, or planning a family vacation, you can enjoy your ride just by renting a car.
So, whenever you plan to buy a new car to meet your needs, do think that buying is the permanent solution or renting car is the smart solution !