Minibus Rental Or Minibus Lease?
Transportation for any organisation can be costly and should be managed with care in order to reduce unnecessary expenditure. So when it comes to sourcing and funding a minibus, it is worth weighing up all your options before diving straight into buying outright. Have you thought about minibus rental? Or considered minibus leasing? Each has its merits and should be closely considered before handing over large sums of capital, that could affect the health of your cash flow.
Why rent a minibus?
With a quick and easy one-off payment, you could have the use of a minibus for a short amount of time depending on your needs. Minibus rental will inevitably be the quickest and easiest option to organise, but the most important question to ask is: will a minibus rental meet my needs?
Renting gives you the ultimate flexibility; you only need to hire the vehicle as you need it and for as long as it’s required. You can easily change the specification to suit and, if you find yourself with extra people to move, simply hire an extra vehicle.
Minibus renting is also a very convenient way of sourcing a vehicle. You don’t have to worry about routine maintenance, where to park it or even washing it.
There are some other considerations which may mean rental is not the best way for you. The flexibility and convenience does come at a cost and for regular users, a longer term arrangement may be more cost effective. Also think about whether you can rely on a minibus rental to present you and your organisation in the way that you want at events? If you want to convey a clear image of your organisation and brand, short-term minibus rental may not be the best course of action to take.
If you require the use of a minibus occasionally or for ad hoc events, a rental may be the better option for you. Do some research and calculate whether your usage levels would make it more cost effective to source a vehicle in the form of a minibus rental arrangement or whether you would be better with a minibus lease.
Why lease a minibus?
Minibus leasing may be your best option if you require regular use of your minibus or fleet of minibuses. This may be the more cost-effective option as well as the most flexible and it means that you have complete control over the model selected.
With an experienced lessor, you will be able to specify additional requirements too – whether that’s disabled access, decals for the branding of your vehicle to better represent your organisation, or any other additional accessories for your minibus that may be required for your organisation.
There will be an initial upfront instalment at the beginning of the minibus lease, followed by subsequent payments spread across a pre-agreed term. This will help you to manage costs and maintain a healthy cash flow.
With a minibus lease, you need to understand how many miles the vehicle will cover over its lease contract duration and agree this with your lessor. You also have the option to include a maintenance package and additional services as part of your monthly payment. This gives you some protection from unexpected or un-budgeted costs associated with running your minibus.
Have you considered both options?
Minibus rental or minibus lease – have you made up your mind yet? Depending on the needs of your organisation, there is always the possibility of using a minibus lease agreement for your regular transport needs and a minibus rental for overflow purposes. Before making a final decision, evaluate all your options. A rental is your go-to for one-off or supplementary transport needs, whereas a minibus lease will offer you a flexible option that is catered to your organisation’s specific needs and branding requirements.
Need further information on minibus leasing? Contact our team of experts at Maxxia to discuss your funding options.