When to lease: If you don’t have the large upfront costs of a minibus already in place, and can’t raise them anytime soon.
Why lease? It is quicker and easier to raise the monthly fee of a lease each month (or to cover a few months) than it is to raise the entire cost of a minibus in a short space of time.
Furthermore, when we consider the rate at which a vehicle depreciates, by the time any loan has been paid off the vehicle may no longer be considered a much of an asset. Thus, it could also be argued that leasing is more cost effective in the long run as you are paying to use the vehicle rather than own it.
When to lease: If you can’t raise enough money for the vehicle’s annual MOTs, services and repairs, and/or if you don’t have a member of staff who has time to organise the vehicle’s annual MOTs, services and repairs.
Why lease? Many leasing companies, such as Benchmark Leasing, can include the cost of the vehicle’s MOTs, services and some repairs* in the lease price, so there will be very little or no further costs to pay on top of the monthly lease fee. Additionally, Benchmark Leasing will help organise the minibus’s MOTs, services and repairs for you, so your staff can focus their attention on what they were employed to do: teach.
For more information about leasing a minibus with Benchmark Leasing, simply visit http://www.minibusleasing.co.uk/schools-minibus.php. Alternatively, you can call us on 01753 859944 or email us at email@example.com.
*Terms and conditions apply.