Sunday 10 December 2023

Electric vehicles gain ground in “leasing and renting”

Paying the bills


The Casino Games With the Best Odds

Casino gambling on iGaming sites like mrbet or in...

Former Panamanian presidential candidate connected to a money laundering investigation arrested in Costa Rica

QCOSTARICA -- Costa Rican police on Tuesday arrested Panamanian...

Bailey Bridge will ease traffic congestion in front of San Jose airport

QCOSTARICA -- On Friday (tomorrow) traffic will be enabled...

Half of Ticos will vote in municipal elections, UNA survey

QCOSTARICA -- 46.3% of voters are 100% convinced that...

Fidel’s Sister and Outspoken Critic, Juanita Castro, Dies in Miami

Q24N - Juanita Castro, the younger sister of Fidel...

Exploring the potential of AI in sports betting

Sports betting is a popular and exciting activity that...

Dollar Exchange

¢526.96 BUY

¢533.11 SELL

9 December 2023 - At The Banks - Source: BCCR

Paying the bills


QCOSTARICA – At a time when gasoline is at a historical price above ¢1,000 colones per liter, the leasing and renting of electric vehicles is becoming an excellent option to reduce fleet operating costs.

More than an environmental fad and a matter of taste, the use of non-polluting cars for productive and private work is quickly becoming a cost management tool.

- Advertisement -

At the same time, business owners and other customers can reserve the use of these vehicles quickly and without contact, from anywhere and through a “smartphone”, which implies another new trend in this market.

And it is that in addition to saving on gasoline, in the figure of “renting”, customers can completely ignore the administration and maintenance of the vehicle, since they are paying for a service and not for a good.

In other words, no more oil changes, no more filter changes, no catalyst checks, and on the contrary, customers will be able to enjoy regenerative braking to increase autonomy.

Another advantage is that the monthly fee paid for this service is 100% income tax deductible.

The other widely used figure is “leasing”, which is a rental contract, but with the option of being able to acquire the vehicle at the end of the agreement.

In the latter case, the fee only covers the monthly payment, insurance and the Value Added Tax (VAT).

- Advertisement -

Budget, Kinto, Total Fleet, and Adobe car rentals in costa Rica, are some of the options that already exist in the market.

In the case of Budget, the possibility of acquiring one or several vehicles under these modalities is offered without the need to stand in line or commit your free time to unnecessary procedures, since everything can be done online.

Kinto, a Grupo Purdy (Toyota dealer) project, integrates different means of transportation in an app, which allows rental for a defined time, in addition to multimodal transportation.

As for Total Fleet, the specialized Renting division of Adobe Rent a Car, the services area offered as part of their sustainability project.

- Advertisement -

Leasing, renting or loan?

Consumers and business clients can choose between the options of leasing, renting or bank loan.

There are differences in the options. In leasing, for example, there is the buy option at the end of the term of the contract, while in renting there is not. A bank loan, for example, will give you title to the vehicle, but may be subject to liens on the title.

With renting, all maintenance and repairs are made by the dealer (renter) based on the rental contract, meanwhile, through leasing or loan, the user is responsible for all repairs and maintenance. In the case of leasing, the user is also guaranteeing a predetermined value of the vehicle at the end of the contract.

Long term loans are less expensive as interest rates are usually lower in calculating payment. However, while with a loan only the interest payment is tax deductible, it is 100% deductible for renting or leasing.


- Advertisement -
Paying the bills
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Electric vehicles have tax exemptions and benefits different from combustion vehicles

QCOSTARICA -- The collection of the 2024 Marchamo or right of...

Ticos risk purchases of electric vehicles from importers without warranty

QCOSTARICA -- A growing number of cases of electric vehicle imports...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.