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LEASE OPTIONS

99% of schools and colleges lease their minibuses rather than try and buy it outright. Both lease and outright purchase have pros and cons, as detailed below.

If after reading this you are still not sure which is the best option for you then please call us on:  01903 881600, email our minibus leasing experts on enquiries@schoolminibuscompany.co.uk, we will be happy to talk you through the different options and prices.

Leasing / Contract Hire, what you need to know:

Pros:

  • No large capital outlay
  • Fixed cost budgeting with equal monthly payments
  • Fixed cost servicing covers all you servicing and repair costs in one fixed monthly payment
  • No need to try and sell it, just hand it back at the end of the lease with nothing else to pay
  • Annual road fund licence is included every year
  • Break down cover is included if you take the optional maintenance package
  • Safety inspections can be included if you need them
  • Fleet discounts through School Minibus Company buying power
  • Ongoing support of the School Minibus Company

Cons:

  • Hire period is fixed, but you can terminate early if you need, but there is a charge linked to the costs incurred by the leasing company
  • Vehicle must be returned in a reasonable condition (as per the BVRLA British Vehicle Rental & Leasing Association fair wear and tear guide lines)
  • Maximum lease length is five years

Outright Purchase:

Pros: 

  • You own the vehicle as an asset
  • You can sell it any time

Cons:

  • Large up-front payment
  • Negotiate purchase price with the dealer / garage
  • You take the residual value risk
  • You have the hassle of selling it
  • No option of inclusive fixed price maintenance
  • You have to buy the annual road fund licence and arrange breakdown cover separately
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