Most people who are going on holiday abroad, or are planning a weekend tour of a country with their friends, are familiar with the process of leasing a car or minibus to help them get around.
But if you are someone who is running an organization, such as an elderly day center that takes trips or even a school, then the process may not be as straightforward as a stag party renting a bus for a trip around Prague.
So, when it comes to leasing a vehicle long-term, what do you need to know? The following short guide provides some key points but always be sure to check the specifics of a lease with any car or bus company you approach, as their small print may be different!
What Is Leasing?
Leasing is very similar to renting, and whether it is a car or school minibuses, you will need to put down a deposit, and you will need to pay a set amount every month for the duration of the contract.
Long-term leasing contracts can vary in length, with many offering leasing terms of around 2-5 years.
The Process
First, you obviously will need to find a minibus leasing company that is reputable and has stock suitable for your needs. You will also need to check that the buses conform to all of the known safety checks and MOT before agreeing to a contract.
In most cases, the leasing company will offer you a deal based on the model of the bus, how many miles it will undertake when you are leasing it and how long the contract is. Generally speaking, long-term leasing can work out cheaper than short-term leasing.
Fees
There will likely be fees on top of the monthly leasing if there is damage to the vehicle, which you will need to report to the leasing firm. Also (as is the way with the majority of contracts), if you choose to end it early, there may be hefty fees included in the final payment.
So, when looking around for a bus leasing company, always be sure to ask about the fees that are included in the contract.
Insurance Included?
It’s worth noting here that even if your organization is leasing the bus for 5 years or more (a very long lease!), you do not own it, and, depending on the company you go with, you may or may not be responsible for the insurance payments. Some leasing firms can offer insurance for the vehicle on top of the monthly payments, but this may be more pricey than independent insurance. So, the advice once again is to shop around for the best deal!
Credit Checks and Deposits
Deposits have been mentioned, and if you are looking to lease a fleet of minibusses for your school or other organization, you will likely pay a lower deposit than you would if you were leasing them individually. Please note as well that you will need to pass a credit check which, if you are representing a school or organization, will usually be in the name of the head of the organization or the head teacher.