The auto leasing and rental industry has witnessed rapid expansion over the past few years, and offers good potential for improvement. However, an overwhelming majority of this industry is targeted towards corporate customers, with retail leasing making up for a negligible portion. Automobile leasing refers to renting out a vehicle for a fixed time period that gives the customer the right to use the vehicle against payment of a fixed monthly rental. The lease rental covers the maintenance and repair costs of the vehicle during that period, and might also include the services of a chauffeur, as and when desired by an individual customer. Automobile leases are usually of two types, namely financial lease and operational lease. The car rental industry has recorded robust growth in recent years, due to the emphasis on travel and tourism within the country, and the consequent steady inflow of foreign tourists. At the same time, the corporate sector has ensured that the auto leasing industry does brisk business in India. Hide this