RenLease Hybrids LLC is operating in the capacity of a captive finance company for the used car market. We have tie ups with used car dealers who provide a steady supply of used cars for the demand in the market.Renlease Hybrids finances theleasesof a usedHybrid Car to qualified users who want to drive for Ride Share services like UBER, Lyft, Doordash, Amazon Prime, Postmates, Grubhub etc
After you create an account on our website.We run a “soft” background check to determine your eligibility.A soft background check does not affect your credit score. We’re simply checking your driving history and your ability to make your payment each week.
At the time of signup, you pay $99. If you successfully pass the background check, the $99 that you paid at time of application applies as credit towards your first weekly payment. When you sign the car lease agreement and pick up the car, you are expected to bring a refundable security deposit of $500 as a money order / cashiers check made to RenLease Hybrids LLC. The refundable deposit applies towards any insurance deductibles or incidentals at time of lease end. Please refer to the General Policies section of this website to understand incidental instances where refundable deposit may be applied to.
A typical weekly payment bill includes the following:
- Weekly Mileage charges
- For $99 per week, you can drive up to 600 miles
- Any additional miles are charged @.15$ per mile (lowest in the car leasing market that we are aware of)
- TAVT at the rate of 7% is charged on the Weekly Mileage
Insurance is charged as a pass through plus a nominal processing fee on a weekly basis
We will refund your $99 payment minus the $25 processing fees. Effectively we refund $74 back on your credit card.
Yes, you are required to set up automatic payments on our website when you sign the lease and receive a car. We accept ONLY CREDIT CARDS as a form of payment. Since at the time of application we run only a soft background check which does not get reported on your credit history, it is imperative to have a VALIDCREDIT CARD to set up weekly automatic payments on our website.
The minimum duration of the contract is 1 year.
The Driver/Lessee is responsible for the regular maintenance of the car as per the Vehicle Maintenance Handbook. Refer to General Policies for more details.
The car will be registered withyour name as a lessee of the car with Renlease Hybrids as the primary lien holder.
Renlease provides the lessee with Insurance. This insurance meets the requirements listed in the agreement as well as the state requirements for comprehensive and collision coverage.The insurance will also include additional coverage for rideshare services. The insurance cost will be charged as a pass-through amount plus processing fees in your weekly bill.
But if you in an accident while you were driving for a rideshare platform at the time of the accident, you’ll need to file with the platform’s insurance.
When you’re driving with rideshare, their commercial automotive insurance has you covered. However, when you drive offline, you’ll need to have a comprehensive and collision policy with rideshare coverage which Renlease Hybrids LLC. will provide as part of the insurance explained above.
The privacy and the security of your data is important to you, and us. That’s why Renlease Hybrids uses “SHA-2 and 2048- bit encryption” – the strongest on the market to protect your identity and keep your personal information safe.