Have you ever wondered to yourself is it better if I rent a vehicle versus out right purchasing or leasing one. Well, most of us have been in this situation.

Lets say you own a business and you need a 15 passenger van because you need to commute workers from the job site to the hotel. You have a multi million dollar project that is going to take months to complete. What should you do? Should the company rent, lease or just buy a vehicle for the duration of the project?

Here’s another scenario, lets say you are into exotic cars. You have the appetite for a Lamborghini Gallardo LP560 Spyder, or Ferrari F430 Spider. A great way to test drive one of these cars for a day or two would be to rent one. Of course there are different requirements for each rental company when you rent a luxury car but shop around, there are deals out there. You don’t want to outright buy one these babies without test driving for a couple hours or so, I don’t think a dealer is going to let us test drive for a few hours or a day or two

Here are some pros and cons of renting/leasing

1) When you rent a vehicle you will not have to worry about a monthly payments for the next 5 years or whatever terms the financing company offers.

2) Most rentals companies will have maintenance coverage for all or most of the maintenance you might encounter for the duration of the rental.

3) Insurance is a big factor. Most states require a minimum of liability coverage on any vehicle that a company or individual owns. Insurance coverage can add up after while. When you rent, a rental company in some cases must provide primary coverage on their rental vehicle. A company or individual will save on additional coverage if you have your own commercial or personal insurance coverage, in this case you may decline additional coverage such as collision damage waiver and supplemental liability coverage.

4) Ability to upgrade vehicle or downgrade to a smaller one. If you buy a vehicle you can not switch without going through the hassle of paper work. When you rent, it a simple call to the rental agency to make that switch.

5) You get a newer vehicle with perks like global positioning satellite or satellite radio to name a few.

6) No down payment required. In some cases there might be a deposit required to rent but this cost should be lower than the average down payment.

7) No penalties for returning the rental at anytime.

Here are some Disadvantages of renting

1) Weekly rental rates go on for as long as continue to rent without ownership

2) You can not customize the vehicle. If you do, you will be charged for modifications. So do not go pimping the ride like they do on MTV, that will cost you big

3) Finally you must maintain the vehicle in good condition, or you will have to pay excess wear-and-tear charges when you return it.

Of course these are some of the benefits and disadvantages of renting. Everyone will have to make that call to determine what factor works and does not work.

Author Bio: PASSENGER VAN RENTAL experience should be hassle free. Rent with us, we will make it happen!

Category: Business
Keywords: minivan rental, passenger van rental, van rental, luxury van rental, 15 passenger van rental