Current Auto case study: building a long-term car rental business in the Baltics

Traditional car dealerships often face unsold inventory, low customer engagement and operational inefficiencies. Current Auto addressed these challenges by introducing long-term rentals as a profitable new business line. It worked with inGain to adapt the inGain lending operations system to auto rental, launched its rental product in Latvia and Lithuania in March 2022, and has since become one of the leading auto rental providers in the Baltics, with a fleet of over 1,500 cars.

Auto rental has specific requirements that don’t apply to other industries in the market. We needed an experienced partner in the fintech industry to bring us the tailor-made software solution that could help us streamline our business.”

— Miroslav Kološevski, Board Chair, Current Auto

Why long-term car rentals are a growing market

Long-term rentals meet a shift in customer preferences from ownership to flexibility. Younger customers, aged 25 to 35, increasingly prefer subscriptions and rentals to buying, which makes long-term rentals an attractive and affordable option.

The challenge

Before working with inGain, Current Auto faced several challenges:

• No in-house IT infrastructure to build its own rental platform
• Vehicle-level tracking: the rental status and usage of each individual vehicle had to be managed in the system, which required a whole additional module specific to auto rental
• Volume: hundreds of vehicles to process and manage every month made manual processes impractical and costly
• Unsold inventory: cars sitting idle on the lot lost value and drained resources
• Customer risk: without automated tools, it was difficult to evaluate creditworthiness and income accurately

The solution

The existing inGain core system already supported around 95% of Current Auto’s needs, so it could be adapted quickly with minimal costs involved. With inGain, Current Auto got:

• A custom rental management module that handles individual vehicles and adapts to evolving business needs
• Automated risk assessment: integrations with credit bureaus and income verification tools streamline customer evaluation and reduce the risk of unreliable renters
• Better use of inventory: cars are put to work as rentals or sold quickly to avoid depreciation
• Automated operations: customer onboarding, cost tracking and debt collection run with less administrative overhead
• Automated data migration into the new platform
• Hands-on support: inGain structured and managed the entire onboarding process and provided regular consultations on adapting the system to Current Auto’s business

Custom development meant Current Auto could adapt the solution to its business, instead of the other way around.

The results

• Fast launch: the rental product went live in Latvia and Lithuania in less than two months
• Faster time to market: rental services launched 30% faster than with traditional methods
• Fleet growth: over 1,500 cars, serving customers across Latvia and Lithuania
• Diversified revenue: long-term rentals turn idle assets into recurring revenue and reduce dependency on traditional sales
• Higher efficiency: automated key processes mean faster service, fewer errors and more focus on scaling
• Market position: one of the leading auto rental providers in the Baltics

Working with inGain was a great experience for our team. Their flexibility and competence in financial products allowed us to create the ideal tech solution that would cater to our business needs.”

— Miroslav Kološevski, Board Chair, Current Auto

About Current Auto

Current Auto is an auto rental and sales company operating in Latvia and Lithuania. Customers can find a car, receive a rental offer and register their vehicle online within one day. Leased vehicles can be exchanged for a new one or purchased on favourable terms.