Exploring the Benefits of Renting over Purchasing a Vehicle

26 Jul Exploring the Benefits of Renting over Purchasing a Vehicle

Whether it’s for short or long-term vehicle hire, renting has numerous advantages over buying outright. These include cost savings on repairs and maintenance, the ability to choose from a far wider range of vehicles than would normally consider, the avoidance of depreciation and a reduced commitment. 

There is also a huge benefit of creating a partnership with a trusted local rental company such as Mayday Vehicle Rentals as you can take advantage of their extensive local knowledge, great reputation, cost effective rental solutions, advanced safety processes and a professional but personal approach that comes from working with a family run business.

In this post we review the benefits of choosing to rent a vehicle rather than buying one outright. In the last 20 years the team at Mayday Vehicle Rentals have gained significant experience in van and car hire in the Dunstable and Luton areas and have designed their service to fit the needs of our client base.

Repairs and Maintenance

When you own a car, you are responsible for all maintenance and repairs, which can quickly add up. The ongoing costs for maintenance can build up over time to a significant financial value even if they are just day to day maintenance considerations such as regular servicing, oil changes, battery changes, wear and tear on tyres not to mention unexpected repair bills or mechanical issues that are much more expensive to rectify.

By renting you know that any repairs or maintenance will have been completed to an exceptional standard with safety checks and a cleaning undertaken to every car between rentals. Overall, renting allows you to enjoy the benefits of a well-maintained and reliable vehicle without the ongoing costs and maintenance responsibilities associated with ownership.

Spoilt for choice

Another benefit of renting is the access you have to a wider range of vehicles than you would be able to consider when purchasing. Once you have bought a vehicle you are bound to that make and model whereas renting allows you access different versions for different occasions and uses. That may be a work trip, a weekend away, a city break or a holiday in the countryside. 

Long-term car hire or business rentals are as flexible and you can choose the ideal vehicle for each specific situation. This variety allows those that choose vehicle rental to experience different models, brands, and features without the long-term commitment of ownership. The fleet at Mayday Vehicle Rentals is regularly renewed allowing you to enjoy luxury or specialty vehicles that may not have been in your budget when purchasing or are impractical to own permanently. 

Whether it’s a high-end luxury car for a special occasion, business rentals for corporate clients or van hire for a significant work project, hiring allows you to experience the joy of driving different types of vehicles without the associated costs and obligations of ownership.

Avoiding Depreciation

Renting a vehicle also avoids the significant depreciation of the vehicle’s value over time. That depreciation starts as soon as you make the purchase and continues throughout ownership impacting on the potential resale value.

This is particularly relevant when buying new or luxury cars and is where renting can bring the most significant benefit as you can enjoy the advantages of driving newer models or better makes than you may consider purchasing without the associated financial losses. 

Additionally, renting provides the freedom to switch to a different vehicle whenever you want, without the concern of losing money on a depreciating asset. You can enjoy driving the latest models without the hassle of selling or trading in your current vehicle.

More Flexibility, Less of a Commitment

Renting a vehicle has a much-reduced commitment compared to purchasing. Taking into consideration re-payments, insurance, tax and repairs and maintenance as previously mentioned above the long-term commitment of purchasing is significant. In contrast, renting a vehicle offers the flexibility to adjust these financial costs based on your current needs and financial situation. For example, if you only need a vehicle for a short period or for occasional use, renting provides a cost-effective solution without the long-term financial commitment of ownership.

What are the Next Steps?

If you need a vehicle the benefits of renting are becoming more increasingly apparent. The financial and social flexibility and avoidance of depreciation or on-going maintenance and repair costs make this option very attractive to many. 

With over 20 years of experience in the industry, the family-run vehicle rental provider, Mayday Vehicle Rentals understands what our customers are looking for when seeking a vehicle rental service. 

Head over to our website to find out more about us, our car, van and business rental, along with our long term hire opportunities or contact us by calling 01582 545454, emailing us at [email protected] or complete our online contact form and a member of our dedicated, friendly and helpful team will be able to answer any questions you may have.