Minibus Leasing vs Buying – What Should You Do?
One of the main reasons why each year more and more businesses are choosing Minibus Leasing as a means of financing a new Minibus is that they are fed up of the high depreciation rates that affect most vehicles nowadays. Most vehicles end up being worth between 30% and 50% of their purchase price after three years, with few exceptions, so this can represent a huge capital loss to the owner.
When considering Minibus Leasing vs Buying, Minibus Leasing can be much more cost-effective, especially if you take advantage of a special deal or manufacturer’s offer, as the total cost of your rentals over the contract period is usually less than the amount that the vehicle has depreciated over that time. There are many ways you can save money on your next Minibus Lease.
However, there are many more Benefits of Leasing a Minibus in addition to the depreciation issue.
Here are some of the things you should consider to help answer the Minibus Leasing vs Buying question, and enable you to decide which is best for you.
Leasing a Minibus would probably suit you if:-
- You want to know exactly how much your motoring will cost you every month
- You don’t want any surprise bills for repairs, routine Maintenance or MOTs
- You like to drive a new vehicle every 2 or 3 years
- You don’t want to worry about how fast your Minibus is depreciating
- You only want a low initial outlay to acquire your new Minibus
- You have a good idea of how many miles you drive each year
- You tend to look after the vehicle you drive (see our Fair Wear & Tear section)
- You don’t enjoy the ordeal of part-exchange or disposing of your old vehicle
- You like the idea of having End Of Contract Options – you can simply hand the Minibus back with no further commitment, extend the lease, or maybe even purchase the vehicle if you wish
Hopefully, the above points will help you resolve the Minibus Leasing vs Buying question. In general, Minibus Leasing is a very cost effective, hassle-free way of acquiring a new vehicle which is appealing to businesses.
If you’ve decided to choose Minibus Leasing as the method of financing your new Minibus, the next stage is to consider the various Types of Leasing available to you.