Car rental with option to buy - how does it work?

Car rental nowadays is a highly sought-after service that provides the opportunity to rent a car for your work, daily or travel needs, choosing the desired rental period. Recently, other types of rental opportunities have become more and more popular in Latvia, namely car rental with the right of redemption. What exactly does this type of service mean and why are more and more people choosing it as an alternative to car leasing?

What is a car rental with option to buy?

What to do if you need a car, but do not have the opportunity to pay for it immediately? In such cases, a popular solution is to rent a car with the right of redemption. This option has its advantages, and if all the conditions are met, it can become a very profitable and convenient way to buy a car. By choosing this type of car rental, you immediately get the car at your disposal and pay its value in installments. This means that the lessee first receives the vehicle for temporary use, but then it becomes fully owned by the lessee.

First, the renter chooses the most suitable car, and then the approximate amount of the transaction is calculated. After checking the tenant’s data, a contract is concluded, which includes all conditions agreed by both parties. The transfer of the vehicle to the lessee takes place when the redemption price is repaid, as well as the car rental price. Until now, the car is the property of the lessor.


Advantages and opportunities

One of the biggest advantages of choosing a car rental with the right of redemption is a flexible payment schedule. The customer is entitled to choose a convenient payment schedule, as well as the amount of regular payments. Compared to car leasing, this type of car rental service involves a quick deal with fewer documents and a much lower down payment - in some cases they may not exist at all.

In addition, it is possible to change the car during the rental - in case the lessee did not fit the rented car, it is possible to easily agree on the purchase of another brand of vehicle.

"Prime Auto" car rental provides an opportunity to rent a car with the right of redemption

Our company offers the opportunity to rent a car with the right of redemption. Our customers rent a car and use it for their own needs, but we perform all the necessary maintenance and technical inspections ourselves. No less valuable option we offer to our customers is the option that vehicles can be rented with the right of redemption not only from our car catalog, but also by choosing a car elsewhere - "Prime Auto" buys it and accordingly offers the lessee to rent it with the right of redemption. . Find out more about the possibilities by contacting our company’s employees!

Contact us