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Hire, Lease or Buy a Minibus – What is the Difference?

If you need to transport a group of people, a minibus is usually the best option. These vehicles are used in many different situations whether this is for schools, community transport, sports teams, bands or businesses. There are many organisations that benefit from minibuses, but you also need to consider whether it is best to buy, lease or hire a minibus. Keep reading for all that you need to know.

Buying

If you need the minibus in the long term, buying could be your best option. When you buy a minibus, it is yours to use as you please until you decide to sell – this also means that it can be modified and branded if you wish. The main drawbacks of buying are that you will be responsible for maintenance and you will also need to factor in depreciation, which means that you will be taking a financial hit if you decide to sell. If you are looking for minibuses for sale, you can find a range online to find one that suits your needs.

Leasing

Leasing is a popular option for businesses and those that require the use of a minibus for a year or two. The cost of servicing and maintenance is usually built into the monthly payment and at the end of the agreement, you simply return the keys (this also means that you could then take out a lease on a newer minibus). This also means that depreciation is not an issue. If you decide to lease, you will find that there are limitations in place and you will not be able to customise the vehicle.

Hire

For those with short-term needs, you will want to opt for minibus hire as opposed to leasing or buying. There are many times when someone might need a minibus for a day, week or month, such as a wedding, tour, group holiday or a school trip. Typically, you will pay one fixed price for the minibus and be responsible for the fuel costs.

Deciding

Ultimately, it will come down to your needs from the minibus. Some people and organisations will need constant access to the minibus all year round while others may need it just for a year or so. There are then those that have short-term needs for a one-off event who will want to hire.

A minibus is a great way to transport a group of people and is used by many different kinds of organisations, but it is important to be aware of the different forms of ownership and find the best option for your needs.

Photo by Airstream Inc. on Unsplash

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