Leasing and tourism, the winning combination/ The tool that is helping car rental companies grow
“Leasing” has become a key tool for the development of the car rental sector in Albania. Leasing is a form of long-term rental, where a company offers an asset for use to another person or company, in exchange for monthly payments. After the end of the rental period, the person may have the option to purchase the asset or return it. According to data from the Bank of Albania, the value of contracts concluded last year reached 367 million euros. Compared to 2023, the loan expanded by 126 million euros.
"It is a financial product that supports the needs of consumers, because the car is used as collateral. On the other hand, we also have the opportunity to benefit through the tax deduction that 'Leasing' offers," says Artur Ribaj, a banking expert.
The main impact comes from the development of the tourism sector. The increase in the number of foreign citizens has increased the demand for rental cars.
"The growth of tourism has given enthusiasm to businesses in this direction, including those that rent cars, looking with interest to invest in this sector. But, on the other hand, the enthusiasm is perhaps greater than it should be, so entities must be careful," adds expert Ribaj, among other things.
According to data from the National Business Center, there are about 124 entities across the country that offer car rental services, or as they are otherwise known, "rental cars."
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