Long Term Car Rental VS Short Term Car Rental in Saudi Arabia
Renting cars across the globe has become a booming option because of its affordability and convenience. But for anyone who is not familiar with car rentals, and trying to determine which sort of rental package is opted for you (long-term rental or short-term rental. So, if you have going back & forth trying to decide between short-term and long-term rental, this blog will be helpful to choose between these rental options.
Before heading to know more about long-term and short-term rental options, let’s have a look at the global car rental market insights.
Long-term and Short-term Car Rental Market Insights
According to Fortune Business Market Research, the global car rental market size was reported USB 85.79 billion in 2019. The market is projected to grow from USD 58.34 billion to 144.21 billion in the 2020-2027 period.
Several commercial rental vehicle companies offer long-term and short-term car rental. The short-term rental segment has dominated the market in 2019 & anticipated to continue over the forecast period. Whereas, long-term car rental is expected to grow at the scorching CARG of 6.7% between 2020 & 2027. The demand for long-term rental cars is growing exponentially for corporate leasing and outstation travelling.
What is your car rental needs?
When deciding between a long-term and short-term car rental, the duration of the rental is the key deciding factor. You should think of your purpose, why you are renting a car, and how often you foresee using a vehicle in a year.
If you need a car for a short period over the weekend, perhaps a short-term car rental is more suitable for you. If you foresee yourself driving frequently, but don’t want to lease or purchase a car, then long-term car rental would be the trick.
Here we have elaborated some of the benefits of short-term and long-term car rental terms. Keep reading this blog to get a better idea of which to opt for.
Benefits of Short-term Car Rental
If you need a car for a specific time or a matter of weeks, then short-term car rental is definitely a cost-effective option. With a short-term rental, you can spare the exorbitant cost that comes with owning a car. Moreover, while renting a car, you can enjoy the perks that come with driving & when you need it.
If you’re looking for a flexible method of meeting all your transportation needs, a short-term car rental would be the exact one you need. On the other hand, if you need a vehicle for a longer time, you may get different deals from the commercial vehicle rental company on flexible terms. Also, in most cases, you can exchange or return vehicles without penalty.
Eliminating Maintenance Costs
Owning a vehicle outright involves spending more time and money on maintaining a vehicle.
But when you rent a car from a commercial vehicle rental company, the maintenance, repairs, or periodic inspections of your vehicle will be taken care of by them. Hence, these all become the responsibility of the commercial vehicle rental company.
Benefits of Long-term Car Rental
Flexible Rental Terms
Long-term car rental relieves you from the fixed commitment & gives you more flexibility in planning your finances. Many commercial vehicle rental companies are offering monthly and yearly car rentals packages. So, you can choose a car and rental package that is flexible. You can choose based on your budget and need from a wide variety of cars available on commercial rental companies.
No Depreciation Cost
With long-term car rental, you don’t need to worry about the depreciation costs. All you are paying for the use of a vehicle, it’s down to the commercial vehicle rental company to forward the plan.
Long-term car renters can get more discounts since the commercial vehicle rental company pays an enormous amount due to the longer duration. You can even save your time and money on spending vehicle maintenance and service and enjoy the perquisite of renting a long-term rental car.
Short-term VS Long-term Car Rental Service
Both short-term and long-term car rental have their benefits. When it comes to choosing between short-term and long-term car rental, you should consider the time period and total cost. Whether you want to lease or rent a car for corporate or personal use, the long-term car rental option will prove to the cost-effective & better option for you.
Why Rent a Vehicle from Fraikin?
Need a short-term or long-term rental vehicle for peak season production surge? Need replacement cars or trucks for vehicle down repairs.
Fraikin’s top-of-the-line commercial vehicle rental and leasing company is your solution. We operate the largest commercial truck rental fleets in Saudi Arabia and other countries. Our fleets consist of well-specified vehicles ranging from cargo to reefer trucks. Whether you need a flexible rental vehicle for a day, a week, a month, a year, or even longer, we can help you by providing a well-maintained fleet or a vehicle at cost-effective and reliable costs.