<h2>Goodbye to huge payments, treatments, and insurance – and not goodbye. Let's start by "putting the cards on the table": A brand new and shiny car is far beyond the reach of most Israelis. It's a fact, there are millions of people in Israel but only hundreds of thousands of new cars hit the road every year. We are not America or Europe.</h2>

Why does this happen? The reasons are varied but ultimately boil down to the fact that new cars are a very expensive product that requires many salaries from most Israelis. And that's not all: cars also require a "dowry" in the form of annual maintenance costs, paying the annual test, and of course, there are also insurance prices that have risen significantly in recent years. In short, the chances of most Israelis renewing a car, whether electric or regular, are not high because the "good morning" of buying a car is 100,000 shekels and from there the amounts only go up.

This is why it is more worthwhile today to enjoy the many advantages of a new car in private leasing and not to lay hundreds of thousands of shekels on the road in an expensive purchase. The way private leasing works is simple and efficient: the customer comes to the company, chooses a car, pays an advance amount determined by the customer, and then pays 36 payments, meaning drives the car for three years. At the end of the period, the customer can return the car to the leasing company or alternatively "roll" the deal forward, meaning continue with the leasing company to the next deal.

Eldan's private leasing currently allows a variety of choices between several private leasing tracks, several types of vehicles, and also offers a wealth of "coverage" for all the additional costs even after the transaction is completed. How does it work? According to Galia Shimony, Eldan's private leasing sales manager: "Customers choose a car from our large selection. After deciding which car to choose and paying the initial payment for the car. It is a relatively low payment that varies according to the type of car and the customer's preferences. Later, the customer pays 36 payments and enjoys the peace of mind of driving a new car.

But the process does not end only with the ability to drive a new car: Eldan also takes on the costs of the car's maintenance, handles the insurance issue, and more than that: also the price of the annual licensing fee, meaning the test amount that no one likes to receive once a year, Eldan pays. In fact, because it is a new car, for two years you don't even need to physically bring it to the test center, and the payment is on Eldan.

According to Shimony: "The price of a small car starts today at about 100,000 shekels, which is a considerable amount, and we are still not talking about cars that are larger and more expensive. If, for example, we take a small car, the customer comes, pays an amount that is less than 8,000 shekels, and then sets off with 36 months of driving a new car. And not only that: if the customer can pay more at the beginning of the period in the initial payment, then the monthly payments afterward are lower."

This method has another advantage: There are no headaches of selling the car, you don't need to host dealers at home, you don't need to advertise ads, and you don't need to deal with strangers coming to "see the car" and haggle "next to the car". At the end of the period, after three years, you simply return the car to Eldan. You don't need to bear any exit fines because the method is very similar to car rental, a field that is of course well known to Eldan, which is considered one of the oldest leasing and rental companies in Israel.

In the end, we have a method that allows the customer to pay a relatively low advance, get a new, reliable, safe, and economical car. After that, pay monthly payments for three years that are also flexible, meaning the customer can "play" with the costs so that they fit their private pocket. The insurance is handled by Eldan, the test costs are handled by Eldan, the maintenance (which is the headache we all know well) is paid by Eldan, and at the end of the period, you don't need to break your head on how to sell the car and to whom to sell the car. You simply return it to Eldan and you can also start a new deal on another car, meaning always drive a new car without problems and also with maintenance and insurance.

In short – a profitable deal that leaves you with a lot of money in your pocket.

What is private leasing? Now in Eldan Car News, enter the car magazine to stay updated on the hot topics in Eldan's automotive world.

What is private leasing anyway?

How to protect yourself from rising car insurance prices: Nowadays, buying a new car is no longer "just" buying a new car, it brings with it a host of "friends". 

What do we mean by friends? We come to the dealership to buy a new car with the whole family, with our best savings and loans, and we renew ourselves. It sounds so simple, but then we get home and call the insurance agency, and here the dream may turn into a nightmare and the picture changes when we discover the cost of insuring a new car - and that's a different story.

For those who follow, in recent months car insurance prices have jumped by tens of percent. In some models, it is no longer a matter of a few hundred shekels, but an increase of thousands of shekels. In extreme cases, high insurance prices constitute a significant portion of the "on the road" price of the car. Until today, we never thought about insurance prices when we went to buy a car, and now we either need to increase the loan or, in extreme cases, even give up the car.

Why have insurance prices risen so much lately? There are many reasons for this, but the main and most worrying one is the increase in car thefts. The data from car tracking companies do not lie: there are meteoric jumps in the number of car thefts, especially electric ones but not only, also off-road vehicles and other popular models. So the insurance becomes much more expensive. Beyond that, the issue of car repairs after an accident is no longer cheap: once when a car was damaged, they would replace the bumper, today this bumper has sensors, cameras, information infrastructures, which means that the parts have become very expensive, which also explains the thefts.

To check whether these amounts are really significant, we went to the website of one of the insurance companies and asked for a quote for the most popular electric car in Israel: BYD ATTO 3. The price for comprehensive + mandatory insurance is 6,720 shekels for a driver with no offenses or claims. But then we added a young driver, 18 years old. And then we discovered that the price jumped to about 11,450 shekels for the same car, but with an 18-year-old driver.

According to Galia Shimoni, Private Leasing Sales Manager at Eldan: "As is known, in our private leasing deal, insurance costs are already included, there is comprehensive coverage for the customer for all damages. Insurance costs have recently risen significantly, especially for young drivers. We offer the customer a deal that is much more economically worthwhile because our price includes treatments, maintenance, insurance, and towing. And it is even more economical for those who need insurance for a young or new driver, our price is only 169 shekels per month, which represents a very significant benefit."

If we take as an example the same popular BYD ATTO 3 in Eldan's private leasing route, we see that the initial down payment for such a car, model 2024, is 8,900 shekels. The monthly payment amount is flexible depending on the down payment amount, and the monthly price is 3,190 shekels. But these prices do not only include the price of the car: this is a price that includes treatment costs, maintenance costs, licensing costs, and most importantly: insurance. And more than that: let's not forget that we do not buy a car exactly according to the day our young driver received a license, sometimes we need to "add" them to the insurance in the middle of the period and only then be shocked by the amount of the addition. With Eldan, adding the young driver is barely noticeable in the monthly pocket. Given the small amount, maybe we can even ask the young driver to participate in the expenses.

Protect yourself from the rise in insurance prices as once said in the slogan "What is certain is insurance and what is insurance ... Eldan! Have a good trip.

Insurance Costs in Eldan Leasing - Everything You Need to Know Now in the Eldan Car Magazine, Eldan Car News!

The Savings on Insurance Costs in Eldan Leasing

Private leasing (private car leasing) has become a popular option in recent years among many people who seek to enjoy the convenience of a new car without the need to purchase it outright.

<img alt="" src="https://main.eldan.co.il/uploads/magazine/articles/moti1.jpg" style="height:390px; width:520px" />

Moti Cohen, Chef de la Division Leasing et Location chez Eldan / Photo : Eldan

Here is a detailed guide that will explain the advantages, disadvantages, and essential details about private leasing, including the advantages of private leasing compared to buying a car. In a world where convenience, flexibility, and precise financial planning are critical, private leasing is a preferred choice for private customers. So for this purpose, we turned to Moti Cohen, Head of the Leasing and Rental Division at Eldan, who will explain and detail for us what the advantages of private leasing are, and then he promised that we would receive some tips, that's what happens when you get advice from an expert!

What is private leasing? Private leasing is a process where a customer rents a car from a leasing company for a fixed period, usually 36 months. Additionally, there are companies that offer 48 months (4 years).

At the end of the period, the car is returned to the leasing company. In return, the lessee pays a fixed monthly amount for the use of the car.

And not for its purchase, maintenance, insurance, licensing fee, replacement car, towing, and rescue services, etc.

<ol>
	<li>Maintenance costs: One of the main reasons that make private leasing attractive is the inclusion of maintenance and insurance (which these days are skyrocketing for drivers with different levels of experience), and the licensing fee in the monthly amount. Thus, the lessee does not have to worry about unpleasant surprises of expensive repairs. Compared to buying a car, where every repair or maintenance is at the cost and responsibility of the owner.</li>
	<li>Replacing the car at the end of the period: At the end of the leasing period, you can choose to renew the contract and get a new car. This way, you can always enjoy new and advanced cars. Compared to buying a car, where the user may be stuck with an old car that loses its value month by month.</li>
	<li>No need for a large down payment: Unlike buying a new car that requires financial planning, private leasing allows you to start using the car with a minimal down payment, tailored to the customer's ability. In simple words, the most important thing is that there is flexibility in the down payment, there are cases where the car serves as the initial down payment, a kind of "trade-in".</li>
	<li>Lower monthly payment: A private leasing deal that is spread over up to 48 months allows you to divide the total cost over a longer period, which directly affects the amount of the monthly payment.</li>
</ol>

Thus, the lower payment makes leasing more worthwhile and leaves more cash available in the family bank account. 5. Depreciation of the car: In a private leasing deal, the customer has no connection to the issue of depreciation, and this does not concern the customer at all. Especially in a business environment where the multitude of brands creates uncertainty about the future value of the car more than before. The customer does not need to check the Levi Yitzhak price list from time to time to see what happened to the value of their car, so they know for sure that they have no chance of being harmed by fluctuations in used car prices and are not exposed to it. Additionally, this eliminates the need to deal with selling the car with all that it entails.

Disadvantages of private leasing

<ol>
	<li>Car usage issue: In the contract itself, the number of kilometers that can be driven in the car during the period must be specified in advance. Exceeding the limit may incur additional costs, meaning that the real need for the amount of mileage must be defined correctly on an individual basis.</li>
	<li>Additional costs: At the end of the contract, in certain cases, there may be additional costs for self-damage to the car (unless you meticulously maintain the car like us).</li>
	<li>Commitment to a long period: Usually, the user is committed to the leasing period agreed upon in the contract. If there is a need to terminate the agreement earlier than planned, there may be expenses for early exit fees.</li>
</ol>

(In the case of Eldan, there is an option to exit after 36 months without a penalty)

What should we check before upgrading to private leasing?

<ol>
	<li>Monthly costs and conditions: It is important to read the terms of the agreement carefully and ensure that everything is understood, including possible additional costs.</li>
	<li>Insurance coverage: Check what types of insurance are included and the ability to upgrade the coverage if necessary.</li>
	<li>Flexibility policy: Check that there are options for flexibility if needed, especially if our needs change during the leasing period.</li>
	<li>Service provider: Check the service provider's ability in terms of experience, reputation, and of course, that they have the infrastructure to provide the promised service.</li>
</ol>

Is private leasing worthwhile? Moti Cohen added, "The answer to this question will vary from customer to customer, depending on their needs and preferences. For those who spend a lot of time on the road and appreciate new features in car technology and love driving a new car all the time without buying it, private leasing is an excellent option. Furthermore, Moti concluded, "Private leasing can be an efficient and convenient solution for renewing a new car without committing to a purchase. But, to ensure that this is really the right choice, it is advisable to understand in advance all the costs and conditions involved in this decision and more than anything to know that there is a reliable and strong address at any given time, capable of solving any problem from small to large even before it occurs, and that's where you can find us."

Private leasing at Eldan – private leasing for 48 months
Everything you need to know now in Eldan Car Magazine, Eldan Car News!

Everything you need to know about private leasing

Private Leasing

Private Leasing at Eldan Now in the Eldan Car World

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