While the world is out of lockdown, there is still a lot of financial uncertainty. Making a big purchase like a car may not be as appealing as it used to be. That being said, for many people, driving around and living their lives is a necessity. There are many different options for those interested in car ownership. So what is the best option?
A better option than buying a new car up front is a private car rental. Renting a car can help you save money on your car expenses. On top of that, renting a car gives the customer more options. Choose the best and models, plus, you can upgrade next year.
Buying a brand-new car is expensive, with prices ranging from at least £17,000, which varies depending on the make and model you want. Plus, the car depreciates every second you drive it off the lot. If you’re interested in car rental options, learn more.
What is a private car rental?
Basically, a private car rental is a long-term car rental. As part of the deal, you can use a brand-new car for a limited period of time, usually 24 or 36 months. You will also have an agreed annual mileage that you must not exceed. Additional charges may apply for additional miles traveled.
Then you choose a fixed monthly payment. Make sure this payment works with your budget because you can repossess the car if you fall behind on your monthly payments. At the end of your lease, you can simply return the car and choose another one.
This is if the car is in good condition and at the agreed mileage. It may also give you the option to extend your lease and continue renting your car.
While you can get a private car rental deal at a car dealership, you can now rent cars online too! The offers available to you depend on the make and model you want. Other factors are how many miles you plan to travel and how long you want to rent.
You are still responsible for all your parking and speeding tickets. You will also be responsible for your car insurance policy. You can always end your lease early, but you may have to pay an early termination fee.
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Eligibility criteria
- You must be over 21 years old.
- You must have a valid UK driving licence.
- You must have at least three years of work experience.
- You must have a reasonable credit rating.
Advantages of private car rental
The biggest advantage of renting a car is that it is cheaper than buying a car. Instead, you have an upfront payment and then manageable monthly payments.
You can experience the car you really want for a fraction of the cost. This is a commitment and a good way to try out a particular model before buying.
One of the main advantages of a private car rental is that you can get the latest models without paying the corresponding prices. Where you might have to buy a used car, you can lease a new car.
This means that if your only option is to buy the car outright, you will have to find cars that you cannot afford. This also means you have access to premium technology, features and safety features in your car.
Another big benefit is the reduction in running and maintenance costs. If something goes wrong with the car while you are driving, the warranty covers it. Since the car will be brand new, the chances of error are very low.
When you choose to lease your car, you can get maintenance packages. The package typically covers the cost of servicing and maintaining the car during your lease. Some maintenance packages cover your road tax.
Final thoughts
No need to buy to experience it! You can drive your dream car and save some money at the same time. Buying a car is undoubtedly a big expense, even with financing plans. Renting a car is the perfect way to use the car while paying a fraction of the cost.
When you rent a car, you have a few responsibilities and expenses to pay, such as gas and insurance. You can choose to include a maintenance package in your lease that covers all servicing and even replacement tires.
