Most leasing agreements will be for periods of two to three years, which may not work for you if you only need the car for six months to a year – for example, if you’ve just taken on a temporary member of staff. With long term car rental you can hire a car (usually) for any period from six to 18 months, giving you much greater flexibility and the option to change to a different car at the end of your rental period.
Another big benefit of long term car rental is the financial one. If you consider that new cars depreciate most in value in the first six months, it makes leasing or hire purchase a less viable option if you only need the car for that length of time. You pay a fixed amount for the period of the rental and your company balance sheet doesn’t take the hit on depreciation at the end of the year. It’s also the perfect option for small or start up businesses who may not have the capital to spend on a new car with so many other set up costs to cover.
The one thing to bear in mind is that, like leasing or hire purchase, you are responsible for the overall maintenance of the car and you will be expected to return it at the end of your rental period in the same condition you received it in – though of course, some wear and tear is to be expected. It’s a good idea to read the small print of any agreement carefully so you know exactly what your responsibilities are.
You’ll also need to make sure you are fully insured and that anyone driving the car is legally allowed to do so. Most long term car rental companies won’t allow learner drivers to get behind the wheel, so do check this out when you are making enquiries.
Finally, think about the kind of car that’s going to suit your needs. If you’re hiring a car for someone who’s going to be doing a lot of driving up and down the country then you’ll want something really comfortable that gives you plenty of mileage to the gallon. If you need something for nipping around the city then think about parking and go for something compact and easy to manoeuvre.