5 Benefits of Renting a Car for Your Business

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5 Benefits of Renting a Car for Your Business

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Renting a car to save your business money is a great way to ensure your team always drive the safest models.

Buying a car for your business can be an expensive ordeal- there is the down payment, monthly payoffs, repairs, and so many more. However, not many business owners know that there is a way around this, which is simply the renting of a car.

Benefits of Car Rental

Renting a car to save your business money is not only cost-effective, it is also beneficial and super convenient for you! Without further ado, here are the 5 benefits of renting a car for your business;

1. Expect Lower Monthly Repayments

When leasing a car, the monthly payments on a rental will work out to be way more cost effective than the repayments if a business were to take out a loan in order to purchase the vehicle permanently. This point is noteworthy for start-up companies, who often do not have the capital and require a loan to assist in the purchasing of a vehicle.

2. Avoid Ownership Trouble

By leasing a vehicle, your company frees themselves of the ownership concerns that one usually experiences when buying a car, such as depreciation and resale value to the leasing company. This is extremely beneficial for a company, as a vehicle usually loses 40% of its value in the first year of being on the road, as well as 60% after three years. Should your business opt to rent a car, the resale is now the rental companies issue and not yours.

3. Enjoy Regular Vehicle Upgrades

A car lease often has a time period of 1 to 4 years, this means that every few years your company will have the benefit of leasing a new vehicle. Besides the luxury of driving a out-the-box new car, your company will have access to the newest technologies, comfort and safety features that accompany new vehicles.

4. Pay Fewer Repair Expenses

One of the biggest benefits of renting a vehicle is that they are often still new enough to be covered by manufacture warranty during your company’s lease period of 1 to 3 years. This means that you won’t have to worry about any unexpected repair bill.

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5. Avoid The Hassle of Loan Approval

If you are in the early stages of starting up a company and your credit is low due to the extensive investment of capital into your company, renting is your best option when it comes to deciding on company cars. Should you have low credit, you will either be denied a loan by the bank or will be made to pay a huge amount of interest on the loan needed to purchase the vehicle.

Find the Ideal Rental Vehicle for Your Company at HBH Today!

If you need a vehicle for your company, look no further! Highway Bakkie Hire is happy to assist you in finding the vehicle perfect for you and your business. Contact us today and let us help you save money on vehicles; from bakkies to cars, we’ve got what you’re looking for!