Short Term Rental is an ideal situation for many businesses at the moment. Due to the current economic climate, many firms are rightly concerned about committing to Contract Hire when considering leasing a car for a new member of staff, not knowing if that employee would meet expectations or what trading is going to be like over the next year or two. A Short Term Leasing arrangement represents far less of a commitment in these uncertain times.
What is Short Term Rental?
Short Term Rental (or Short Term Leasing, as it is also known) is the leasing or hiring of a car or van for a period usually ranging from one to twelve months, with immediate delivery. It is different from Car Leasing, which is usually a 2-5 year contract. It is a very flexible and convenient arrangement, which can usually be extended on a month by month basis, unlike Contract Hire where you are committing to a two or three year fixed term.
It is not the same as Daily Rental, which is hiring a car or van usually for a period of days rather than months, as the name suggests!
There are short term rentals available for most types of vehicles, which are categorised into groups such as small hatchbacks or family saloons. So you would normally request a vehicle type rather than a specific make and model.
Why choose Short Term Rental?
There are many reasons to choose Short Term Leasing:-
- A short term lease is ideal if you’re starting a new business and need a vehicle
- Only been trading a few months and not had time to build a good credit rating
- You may be unsure of the current economic climate
- You don’t want to commit to a 2 or 3 year lease contract
- You have difficulty obtaining finance due to problems with your credit history
- You need a vehicle for a particular job, contract or for seasonal work
- You need a vehicle for a staff member who is temporary or on a trial period
- You need a temporary car until your newly ordered vehicle arrives
- Short Term Car Rental is more economical than Daily Rental
Benefits of Short Term Rentals
- Fixed monthly rental including Road Tax, warranty & Breakdown Cover
- Short Term Leasing means no long term commitments
- Flexible contracts from 1 – 12 months
- Contracts can be extended on a monthly basis after the initial period
- There is a low initial payment with short term rentals
- Free UK mainland delivery and collection (subject to rental period)
- Easily change your vehicle if your circumstances change or you get bored with it
- All vehicles are either brand new or less than a year old
- Generous mileage allowance included in rental – higher mileage rates available
- Vehicles available at short notice, often within as little as two hours
- No Early Termination penalties with a short term lease (after the initial period)
Typical Short Term Rental Rates
Here are some examples of UK Short Term Rental rates to give you an idea on cost, based on a minimum of 3 months rental. Obviously, these are quite a bit more expensive than 2 or 3 year Contract Hire rates, but the benefits of not having to commit to a long term contract can sometimes outweigh the higher cost.
Please click on any of the above images if you need further information.