Renting vs Leasing Buses: Which Option is Right for You?
As a decision maker for your organization’s travel, you understand the importance of having the right bus for your needs. You have likely taken enough trips and rented buses in the past to know they aren’t all the same. From school buses to coach buses to charter bus rentals, the type of bus can make a big difference.
But sometimes it takes a few trips to find out if a particular type of bus is right for you. For this reason, bus leasing, or renting a bus, are both popular options. But what is the difference between renting a school bus and leasing a bus? Let’s dive in and discuss.
Renting Vs Leasing
There are some people who might not be aware that renting and leasing are not quite the same thing. They might be under the impression that if you aren’t buying a bus, then you are renting one. This is not entirely accurate. From insurance to contract details to maintenance, there are differences to consider.
While renting and leasing a bus are both agreements with a provider, the benefits might be different. For example, leases tend to be yearly, or even two years. Therefore, over the course of that lease, the responsibility is yours. And yet, even on a two year lease, you have the option at the end of the lease to return, renew, or trade in the bus for a newer model.
Renting is similar, but with a shorter timeline. For instance, you might want to rent a bus for a long weekend, or perhaps for a single day. This is an option and works especially well if you are in a position that you only need a bus for temporary transportation. After all, possession of a bus requires a space to park it. But the pros and cons go beyond these technical differences.
Pros and Cons of Renting Vs Leasing
There are certainly pros and cons pertaining to either option. And ultimately, it comes down to what makes the most sense for you and your organization. Therefore, knowing precisely what your organization needs will help inform your decision.
One question you might want to consider is how often you are traveling. If you are taking your school athletic teams to games every weekend, then leasing might be a better option. This is because you will need your school bus on a regular basis.
In this example, renting week after week will likely be more expensive than leasing for an extended time. How much it costs to lease a bus depends on the type of bus and length of time. However, it is sure to be cheaper than renting every single week.
This also brings a convenience factor into the mix. After all, renting a bus requires effort, making sure one is secured that meets your needs. If this is happening often enough, it can be time consuming in addition to costly.
And speaking of costs, there is another cost aspect to consider when leasing a bus, and that is maintenance. Typically, when you rent a bus, the owner is responsible for maintenance and upkeep. But if you are leasing the bus, these costs will come down to you.
For some people, this alone is worth renting a school bus. But again, it comes down to your situation. If you lease a new bus then you are less likely to have maintenance problems. It is also common to have better lease options than rental options.
Is Leasing or Renting More Cost Effective?
The advantages and disadvantages of renting vs leasing come down to your situation. It is typically not as cut and dry as saying one option is cheaper than the other. For some organizations, buying a new coach bus is the most cost efficient option.
Assess not only your finances, but the practicality of leasing vs renting. There are benefits and drawbacks to both options. But if an option makes the most sense to you, then these drawbacks will be minimal.
The important thing to keep in mind is your organization, and the use and purpose of the bus. If this is your driving decision making factor, you will make the right call.
Talk To Our Team
There are many people who wrestle with this decision. It is no secret that buying, leasing, or renting a bus is a big decision. And yet, we feel this doesn’t have to be harder than it needs to be. That is why our team is ready to discuss.
Let us help you navigate the ins and outs of renting vs leasing. We are happy to share insights and opinions based on our years of experience. We are here to make sure organizations are happy, passengers are comfortable, and your bus meets your needs. So reach out and let’s get a bus that is right for you.
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