Purchasing a brand new minibus outright can be an expensive option with high upfront capital costs, many schools, colleges, academies and universities are looking at cheaper alternative means including purchasing a pre-owned minibus or minibus leasing.
Both Pre-Owned and Minibus leasing have their pros and cons as detailed below:
- You own the vehicle as an asset.
- Cheaper alternative to purchasing a brand new minibus.
- You can sell it at any time.
- Lower Depreciation on the vehicle over a Brand New Minibus which depreciates as you drive it off the forecourt.
- The vehicle history is unknown – may not know about any previous repairs carried out on the minibus.
- You get what you pay for – the money you save may go towards repairs.
- Responsible for maintenance and upkeep of vehicle – this includes servicing and MOT.
- Lack of warranty – Unless you choose a certified pre-owned car from a dealer, you won’t receive a warranty to cover damage to the minibus.
- End of life – Hassle with either selling it or moving it on.
- 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.
- 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.
If after reading this you are still not sure which is the best option for you then please call us on: 01903 881600.
With our independent and impartial advice, our school minibus leasing experts we will help you find a minibus to match your needs and your budget