In a global survey, it has come to notice that more people are preferring to rent a car than buying a new one. It has been found that people are investing their money in paying the monthly installments for renting a car instead of buying a new one. The survey highlights different reasons for this observation in different corners of the world. A small proportion of people are renting a car on a temporary basis whereas there is a major population which is consulting car rental services on a permanent basis.
It has been commonly noticed that the craze for car rental services has been rising in the countries namely, the US, Mexico, Canada, and many European countries. According to City Car Rental in Cancun city of Mexico, one of the reasons for the high demand for rental services is the depreciation of a new car after a few years of its purchase. In the first year, the value of a new car decreases by 40% and in three years, it decreases by 60%.
The craze for driving the latest model has been rising at an excellent rate and it has been making it important for everyone to prefer car rental services in order to fulfill their need. Since it is not possible for everyone to buy a new car after selling the old one, the demand for car rental services has been rising well. And another reason is that renting a car eliminates the repair costs and one can simply rent a car by paying a small monthly installment.
