Some companies, such as AutoTT, offer what is known as a short term car lease in Europe. This product aims to provide a car lease free of VAT to non-european residents, the car being registered under the customer's name. The program is 50 years old and started with the French car makers Renault, Peugeot and Citroen. The offer includes a brand new car, full risk insurance and 24 hours assistance and is, in many ways, similar to a car rental. At the on their stay, the car "owner" returns the car, and has nothing else to pay.