Private lease is gaining traction in Belgium, but from a very low base. According to figures published by Renta, the Belgian federation of vehicle rental and leasing companies, the number of private lease contracts reached 16,074 vehicles by the end of March 2026, up 22% year-on-year from 13,201 a year earlier.

While the growth is significant, the segment still represents barely 3% of the total long-term leasing fleet of more than 540,000 vehicles managed by Renta members, highlighting how marginal private lease remains in a market that is still overwhelmingly business-oriented.

ICE and hybrid still dominate

The composition of the private lease fleet also reveals interesting trends. Petrol and hybrid models continue to dominate, accounting for more than 86% of contracts, but their share is gradually declining.

Fully electric vehicles, by contrast, are gaining ground rapidly: their share almost doubled from just over 4% to 7.8% in one year, reaching 1,255 units.

Diesel and plug-in hybrid vehicles remain a niche in this segment. The average contract duration stands at 52 months, aligning with broader leasing trends but confirming that private customers, like corporate ones, opt for relatively long commitments.

Striking contrast with the Netherlands

The contrast with neighboring countries is striking. In the Netherlands, the most mature private lease market in Europe, around 241,800 vehicles are privately leased, even after a slight decline in 2025.

In relative terms, private lease accounts for a significant share of new car registrations there, while in Belgium it remains a niche product.

France shows a different but related trend: leasing is widespread but often takes the form of lease-to-own (LOA) contracts, allowing drivers to purchase the vehicle at the end of the contract. Germany sits somewhere in between, with a strong leasing market overall but still dominated by corporate users rather than private individuals.

Dominance of company car

Belgium’s lag is therefore not a question of product availability or recent growth, but of structural differences. First and foremost is the dominance of the company car.

Belgium remains one of the few European countries where employer-provided vehicles, often including fuel or charging cards, are deeply embedded in the remuneration system.

For many households, mobility is already covered through a fiscal advantage, leaving little incentive to explore private alternatives. This structural bias explains why the broader leasing market in Belgium remains overwhelmingly B2B-oriented.

A second factor is cultural. Belgian consumers have traditionally favored ownership over usage. The idea of paying a fixed monthly fee without ultimately owning the car still meets resistance, even though similar subscription models have become widely accepted in other sectors.

Full cost of ownership unknown

Renta itself notes that Belgian private customers remain less inclined to choose a formula in which they do not become the vehicle’s owner. However, when analyzed from a total cost of ownership (TCO) perspective, private lease appears more competitive than many consumers assume.

A typical mid-range electric car such as a Volkswagen ID.3 can be privately leased in Belgium for around €450 to €500 per month, all-inclusive.

Buying the same vehicle through financing may appear cheaper at first glance, with monthly loan payments around €600–€650, but once insurance, maintenance, tyres and other running costs are included, the real monthly cost can easily exceed €800.

In that context, private leasing offers cost predictability and removes the risks associated with depreciation, particularly relevant for electric vehicles whose residual values remain uncertain.

This gap between perceived and actual cost is crucial. Belgian consumers tend to compare lease payments with loan installments rather than with the full cost of ownership.

In markets like the Netherlands, where company cars are far less prevalent, consumers are more readily inclined to evaluate mobility as a service with an all-in monthly price. This difference in mindset partly explains why private lease adoption can be higher even when absolute prices are comparable or higher than in Belgium.

Still, unless the fiscal framework around company cars changes significantly, Belgium is unlikely to close the gap with its northern neighbor in the short term. Belgium’s private lease market is not so much underdeveloped as it is constrained. The question is not whether the model works, but whether the broader mobility ecosystem will allow it to scale.