Vehicles play a crucial role in your business. You need trucks to make deliveries or pick-up equipment. You need cars to make meetings with clients. You need a fleet of vehicles for your daily operations. But, is it better to buy or hire the vehicle you need?
A Financial Decision
When you hire vehicles for your business, you avoid paying a substantial amount of money for a new vehicle by paying a comparatively small monthly rental fee. This offers further flexibility should you wish to change the type of vehicle you need.
Hiring a vehicle becomes more financially sound when your transportation requirements are only short-term. For example, you may only need a pick-up truck for a few days of the year.
If you run a small business, you gain better cash flow with hiring vehicles rather than buying them. Hiring a vehicle, then allows your business to reduce and control costs; you only pay for it when you need it. You can then determine which vehicle is right for your business if you do decide to buy.
Cost of Ownership
Owning a vehicle requires regular maintenance. You are required to upkeep your fleet of vehicles to ensure their performance and efficiency of your operations.
Vehicles that breakdown during deliveries or continually need repairing will eat into your costs and impact the efficiency of your business. This will inevitably affect your customer service and may impact your credibility.
With hired vehicles, you ensure performance with your fleet. This will save you time and money, and enable you to run your business hassle-free.
Hiring the right vehicle will benefit your business provided, of course, you pick the right rental company. Choose a company that provides high quality vehicles that meet your transportation requirements.