Buy Or Lease Our School Minibus
Buy or Lease Our School Minibus?
Buy Our New School Minibus Outright?
If you choose to outright purchase your new school minibus, then it is fair to say that you have allocated a significant part of the school’s cash into a depreciating asset. What follows with this ownership status is the responsibility to arrange and pay for all that is necessary for the upkeep of your school minibus.
For example your minibus requires routine servicing, maintenance and safety inspections to maintain the manufacturer warranty, but more importantly your responsibilities from a health and safety perspective. Add in the other maintenance related requirements, such as the vehicle MOT, tyres exhausts and batteries and it begins to be clear that there is a reasonably substantial amount of work and responsibility if you decide to go down this route.
Lease Our New School Minibus?
When we use the term lease we are referring to contract hire, a form of lease, which enables you to make fixed monthly payments over a period, typically 3 to 5 years. Unlike outright purchase, the disposal of the minibus is handled for you at the end of the contract, and because the minibus has a resale value, you only pay for the depreciation. This method of financing your minibus generally leads to lower monthly payments and, as the market proves, is an increasingly popular choice within the education sector.
We would suggest that you choose a full maintenance contract, thereby benefiting from all servicing, maintenance and repairs, furthermore a full maintenance contract includes the required annual MOT, tyres, batteries and exhausts. In most cases this leaves you with just the insurance and fuel costs to consider.
Which is The Best Option For Our School?
So having posed the question, buy or lease our school minibus, we can confirm that in our experience shows that more schools, academies and colleges are taking up the contract hire option because it offers the best practical outcome for them. The benefits are predominantly predictable costing, which makes for accurate budgeting and also the built in factors that make the use of the minibus as free of risk as possible.
When your school decides to contract hire its minibus from our business you get our ongoing support as part of the package, we aim to make the process professional, caring, and as simple as possible. We have a long documented history of client care, our support comes as part of the package, we look forward to speaking with you.