Sunday, June 24, 2012

Car Leasing Or Short Term Rental - Which Should I Choose?

What is Short Term Rental?

Short Term Rental (or Short Term Leasing, as it is also known) is the leasing or hiring of a car or van for a period usually ranging from one to twelve months, with immediate delivery. It is a very flexible and convenient arrangement, which can usually be extended on a month by month basis, unlike Car Leasing where you are committing to a two or three year fixed term.

It is not the same as Daily Rental, which is hiring a car or van usually for a period of days rather than months, as the name suggests!

There are Short Term Rentals available for most types of vehicles, which are categorised into groups such as small hatchbacks or family saloons. So you would normally request a vehicle type rather than a specific make and model.

Why choose Short Term Rental?

There are many reasons to choose Short Term Rental over Car Leasing, the main one being that you will not be committing to a lengthy leasing contract and will have the flexibility that a short term arrangement offers.

A short term lease is ideal if you're starting a new business and need a vehicle, or you have only been trading a few months and not had time to build a good credit rating. Even if you have been trading for a while but are having difficulty obtaining finance due to problems with your credit history, it is often easier to get a short term lease.

Also, Short Term Rental is useful if you need a vehicle for a particular job, contract or for seasonal work, you need a vehicle for a staff member who is temporary or on a trial period, or if you need a temporary car until your newly ordered vehicle arrives. Short Term Rental is always more economical than Daily Rental. Vehicles available at short notice, often within as little as two hours.

Benefits of Short Term Rental

One of the main benefits of Short Term Rental is that it is a flexible agreement which can usually be extended on a monthly basis, and the fixed rental includes Road Tax, Warranty & Breakdown Cover. There is a low initial payment, a generous mileage allowance, and free delivery and collection (subject to rental period). Other benefits include being able to easily change your vehicle if your circumstances change or you get bored with it, and there are no Early Termination penalties with a short term lease (after the initial period).

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