Car Leasing Mobile App Development Cost & Key Features

Updated 15 Mar 2024
Published 14 Oct 2019
Rahul Mathur 2712 Views

With the advent of technology, the nature of every business is changing. Today, many industrial markets have mobile apps for flourishing their businesses.

All small and medium-sized businesses are looking forward to having a mobile app and one such venture name that is being highlighted nowadays with the mobile app is Car Lease Businesses.

If you’re interested in getting a new car, you’re probably well aware that you have two basic options: leasing or buying. While most drivers choose to buy (or finance) a new car, many shoppers swear that leasing a car is the better decision. So which is correct?

In this blog, we will cover every aspect of a car lease app, from market size to app features and the cost to create a car lease app.

car lease mobile app development

How Car Leasing is Popular?

Car leasing has become increasingly popular over the last few decades. As a result, it has brought benefits to more businesses and customers.

Why is car leasing so popular for businesses?

Leasing is an attractive prospect for businesses, and there are many reasons for this, Some of them are:
The fixed cost helps in avoiding depreciation.

  • Significant tax benefits.
  • Regular car upgrades.
  • Saves a great deal of money.
  • Value-added benefits for employees.

car lease app development contact us

Why is Car Leasing so popular among customers?

Car leasing has been a predominant choice for businesses in the past, and it has become a very viable option for customers as well. There are several reasons for this, including;

  • Way lower monthly payments.
  • Less money invested upfront.
  • You don’t have to worry about the used car.
  • Get to drive the latest cars.
  • Impressive tax benefits.

Car Leasing Market Size Stats and Business Opportunity

Leasing is a popular and fast-growing way to finance a new car. As of now, Fleet Car Leasing’s US market size in 2022 is $8.7 billion, with a growth rate of 5.2%.

us car financing lease statistics

Talking about the business opportunity, it is expected that the global car leasing market will witness a compound annual growth rate of 14% during the period of 2019–2023.

Asia Pacific, Europe, and North and South America are the eminent regions that form the global car leasing market. It is expected that APAC will have the biggest share of the market by the end of 2024.

Car Leasing Market Size Stats

With more mobility demands and high fleet management solutions, car leasing companies all over the world have increased the demand for leasing.

Global car Leasing market
Image Credit: www.businesswire.com

How a Car Leasing Mobile App help?

The automotive industry offers a wide range of car-selling and related apps designed to meet customer needs. With the help of mobile apps, potential clients are able to compare prices, check out reviews, simplify the whole car, leasing process and obviously save plenty of time.

By simplifying the leasing process, the app provides a platform that gives customers easier access to personalized lease deals from local dealerships and can bring dealerships new business they might not have gotten otherwise.

Business Types of Car leasing Mobile Apps

Aggregator App:

The aggregator app is one of the widely used models that brings all the dealers and car lenders together on a single platform.

Here, customers can find the dealers nearest to their location offering the best deals on a car lease. Such applications do not have their own inventory.

They only provide a platform for facilitating car leasing services between dealers and customers. As far as monetization is concerned, the potential ways are commission, advertising, 3rd party brand promotions, featured listings, etc.

car lease app development

Dedicated App:

The application is developed for a specific business or manufacturer to facilitate its operations. The point of contact here is the customer and the executives of the store location or the employees of the company.

Here, entire operational activities like lease management, contract management, and financial management are handled by the various modules incorporated in the application itself.

Read Also: Top On-Demand Car Wash Apps in Dubai, UAE

Car Leasing Mobile App Features

Social Signup & Login:

This feature allows users to sign-up for the app. It uses social accounts such as Facebook, Twitter, Google ID, phone number, etc. as the primary source for logging in. This medium helps in completing the registration process in a hassle-free way.

Push Notification:

Under this feature, the users get reminders and updates regarding appointments, payments, and any new car added as per their interest.

Also, they get details related to the available offers in their respective cities for a car lease. The technology keeps the users connected to the application and notifies them about all the updates. It works great at augmenting the user’s engagement standards.

car lease app notifications

In-App Camera and Document Scanner:

The In-App document scanner allows customers to capture the image of their documents to be uploaded for completing the leasing process of the car.

Moreover, with the In-App camera, the dealers can click the image of the car being delivered to check its condition at the end of the lease contract.

Document Management:

With this feature, the documents that are scanned or shared by the various customers can be managed properly. The integration of ERP into data management helps in the smooth processing of business operations.

EMI Calculator:

Under this feature, the customer can get a rough estimation of the monthly EMI. The customer may fill in the car details, the amount that he/she wants to pay as the down payment, and loan tenure to get an estimation of the monthly EMI.

car lease application development

CRM & ERP Integration:

Adding the CRM helps strengthen customer relationships with the application. It allows users to seek any assistance for the problems they face while using the app. The CRM integration helps in generating the response for the queries and keeps the users feeling attended.

Also, users can share their improvement feedback or shortcomings related to the application, which helps enhance the customer experience and adds perks to the business.

Today, ERP systems are critical for managing thousands of businesses of all sizes and in all industries. With the ERP integration in the application, every module, such as the Financial Management and Lead Management System, enhances business processing and helps generate good revenue.

CMS Integration:

A content management system is an intuitive and conventional tool for administrators. It helps administrators manage available content throughout the application.

App Development Cost

In-App Calculator:

This can help the users make certain calculations if required in the application itself.

In-App Calendar:

With this feature, the admin can check the lease ending dates and push notifications or reminders to the customers. Also, the customers can check the availability of the desired vehicle and schedule it for delivery on lease.

Loyalty Program:

Rewards and referral programs motivate customers to share and use the application more and more in order to earn more reward points, which can be converted into attractive discount offers.

It is a really beneficial feature of the car leasing app to boost the approach among potential customers.

GPS Tracking System:

This is the most essential feature that helps the admin track the vehicle’s current location. The geolocation feature captures the geographic location of the user and as per that, the app displays the information.

For instance, if the user is driving the car in a rash manner, then the admin can send alerts and alarm the user to slow down in order to avoid any surcharges. Also, users can locate the nearest dealer as per their location.

Analytics & Dashboards:

App analytics offers various types of essential data that can be used to enhance business and app operations for administrators.

Also, the incoming and outgoing funds can be tracked and managed under this feature of the car leasing app development. One of the crucial features of an admin is a dedicated dashboard. This feature shows all analytics and data to the admin, separated by categories.

create a car rental app

Contract Management:

This feature helps the admin keep track of all lease contracts. With these live statistics, the business flow can be managed in the most efficient way also other monetization strategies can also be implemented.

Asset Management:

With this feature, the admin can manage the car fleets remotely via the app itself.

Vehicle Inspection:

A thorough inspection is performed before the delivery of any car. Here are some predefined checkpoints under which the car is completely checked by the certified engineers and a report is generated, which can be seen under this feature. This helps in building trust with the dealerships or stores.

Marketing Tools:

Under this, the brand’s or application’s presence is capitalized in many ways. The marketing campaigns can be run on various platforms and their performance can be analyzed to make a better monetization strategy. All the advertisements, banners, email templates, and promotional campaigns are managed by the admin.

Insurance Management:

This feature is really helpful in knowing the insurance renewal time period of the various cars that are in the inventory. The details regarding the claim and new insurance can be obtained through this feature.

Driving Behavior:

With the help of geographic tracking, the driving behavior of the users can be monitored. Also, with this feature, notifications and alarms regarding the speed limit and driving pattern can be sent to the customers so as to help them save on the surcharges implied by the traffic police.

Service Management:

Regular maintenance of the cars is necessary so as to maintain their durability. Frequent reminders are provided to the customers to send the cars to the authorized service centers for their service.

Lease Cancellation:

If any customer wants to cancel the lease before its end date, then certain calculations regarding the pending amount need to be done and the car pickup is scheduled accordingly.

Customer Profile Verification:

This is the most important feature, where a customer profile and its background are checked thoroughly so as to confirm the authenticity of the documents that are provided.

On-Road Assistance:

Roadside Assistance is a 24×7 emergency service that is offered in case of a breakdown of a vehicle. RSA intends to reduce the inconvenience caused by any car failure.

Roadside assistance covers different services like on-site assistance, flat tire, towing, dead battery, key lost or locked, fuel delivery up to 5 liters, Cab assistance & more.

Required Technology Stack for Car Lease Apps

It wouldn’t be an exaggeration to say that behind every successful mobile app are competent and experienced mobile app developers who turn ideas into profitable businesses.

While developing a car lease application, it just requires partnering with an app development team or a company of mobile app developers.

To make the app available to a wider audience, it is wise to make the car lease app available on all mobile platforms like Android and iOS.

  • Platform – Android, iOS, Web
  • Real-time Analytics: Storm, Flink
  • Database:  Postgress, HBase, MongoDB, Cassandra
  • Payments: e-Wallets, Stripe, PayPal, Braintree, and Net Banking
  • Voice, SMS, & Phone Verification: Twilio, Nexmo
  • Push Notifications: Push.io, Twilio
  • Cloud Environment: Azure, Google, AWS
  • Navigation: Google Map

Car Leasing App Development Team Structure

For car lease app development, the minimum team structure would look something like this:

  1. Business Analysis Team
  2. Project Manager
  3. Android and iOS Developers
  4. Front-End Developers (UI/UX Developers, AngularJS Developers)
  5. Backend Developers (PHP Developers, .Net Developers, NodeJs Developer)
  6. QA Professionals

How Much it will Cost to Develop a Car Leasing App?

The cost of developing a car leasing mobile app depends on the factors below. Some of the factors are listed below:

  • The platform selected
  • Geography of development partner
  • Front-end and back-end development
  • UI/UX development
  • Development Team Size
  • Brand value of development partner
  • 3rd Party App Integration
  • Customization & Functionalities

Besides the aforementioned technical parameters, the physical location of the mobile app development company and the app developers also plays a major role in estimating the right price for the mobile app.

And the most important factor that affects the overall cost of app development is the geographical location of the development. For instance, Asian countries like India offer great quality mobile app development at way lower prices than western countries.

Considering all ideal factors and best options, an MVP version of a car leasing mobile app can cost somewhere around USD $15,000 to $20,000.

Conclusion

The evolution of technology and the gradual shift in customer demands have marked a tectonic shift in the car leasing business.

In the past years, the car leasing industry has been shifting gears and adopting digital solutions to offer innovative services, enhance the customer experience, attain better efficiency, improve security, and find non-conventional avenues for automation and marketing.

The car leasing sector is witnessing a paradigm shift, and it is complemented by the ever-evolving demands of customers, who need viable solutions to their modern challenges.

As a car leasing business owner, you will be more engaged with your customers, offer them better services, and improve your revenue if you possess an efficient and robust car leasing application.

Furthermore, the car leasing space is witnessing fierce competition as well, and a decent mobile app can help you edge ahead of your competitors with ease. 

If you have decided to build a car leasing app, then you may get in touch with our consultants. Arka Softwares is a renowned app development company, with extensive industry expertise. Our seasoned app consultants can certainly transform your business idea into a captivating reality. 

Rahul Mathur

Rahul Mathur is the founder and managing director of ARKA Softwares, a company renowned for its outstanding mobile app development and web development solutions. Delivering high-end modern solutions all over the globe, Rahul takes pleasure in sharing his experiences and views on the latest technological trends.

Let’s build something
great together!

3 + 9 =

Client Testimonials

Mayuri Desai

Mayuri Desai

Jeeto11

The app quickly earned over 1,000 downloads within two months of launch, and users have responded positively. ARKA Softwares boasted experienced resources who were happy to share their knowledge with the internal team.

Abdullah Nawaf

Abdullah Nawaf

Archithrones

While the development is ongoing, the client is pleased with the work thus far, which has met expectations. ARKA Softwares puts the needs of the client first, remaining open to feedback on their work. Their team is adaptable, responsive, and hard-working.

Pedro Paulo Marchesi Mello

Pedro Paulo Marchesi Mello

Service Provider

I started my project with Arka Softwares because it is a reputed company. And when I started working with them for my project, I found out that they have everything essential for my work. The app is still under development and but quite confident and it will turn out to be the best.

whatsapp