9 Not So Obvious Advantages of Long-Term Car Rentals

An estimated 48 million people rent vehicles each year in America based on recent reports. People turn to car rentals for a variety of reasons. In many cases, they do so for vacations. Others rent a car when they unexpectedly need to travel. At times, people may need to rent cars when their vehicles break down. Sometimes, people want to know what it’s like to drive a specific make and model. Rather than purchasing one, they simply rent one for a few days.

Regardless of the reasons, typical car rentals generally last anywhere from a couple of days to a week or so. Many people don’t realize that long-term car rental is also an option. These arrangements can last from a couple of weeks to a few years, and they can offer several advantages. Consider some of the potential benefits of long-term rentals.

1) Less Expensive Than Car Payments

For one, long-term rentals can be less expensive than car payments. Long-term rental arrangements have different rates than short-term plans. Those may be more affordable than the payments you’d have if you were to buy a car.

2) No Down Payment

You don’t need a down payment with a long-term vehicle rental, either. That’s another way renting can save you money when compared to buying. It also gives people who are struggling with saving up enough money for a down payment an opportunity to have a vehicle of their own in the meantime.

3) No Need for a Separate Insurance Policy

Additionally, you may not need to purchase a separate insurance policy when renting a vehicle. The rental company may offer insurance coverage along with the vehicle. That’s certainly not the case when you buy a vehicle.

4) No Maintenance Costs and Responsibilities

With a long-term vehicle rental, you won’t have maintenance costs and responsibilities, either. Rental companies often include preventative maintenance as part of their rental plans and as an added service for their customers. That, alone, can save you significant money and worry over time.

5) No Commitment

Another advantage of long-term rentals is not having to commit to a specific type of vehicle. When you buy a car, there’s always the risk that you won’t be as happy with it as you’d initially hoped. With a rental, if you’re not happy with the vehicle or your needs change, you may be able to simply switch to a different one.

6) No Mileage Limitations

Long-term vehicle rentals don’t come with mileage limitations, either. That’s certainly not the case with conventional leases. With a long-term rental, you can drive as much as you need to and travel as far as you want without being subjected to excessive fees and other potential repercussions.

7) No Credit Check

Yet another benefit of long-term car rentals is that they don’t require credit checks. Having a less-than-stellar credit score or no borrowing history at all is a hurdle that prevents many people from being able to purchase a vehicle. It’s not an issue when you rent.

8) No Loss of Value

Depreciation is a significant factor when you buy a vehicle. It’ll lose up to 20 percent of its value the moment you drive it off of the lot. From there, it’ll lose another 15 percent or so annually for the next few years. With a long-term vehicle rental, you won’t have to worry about that loss of value.

9) Flexible Rental Periods

Finally, long-term rentals give you flexibility. You may not know how long you’ll need to rent a vehicle, and that’s not a problem. You can request a rental for as long as you think you may need it. If necessary, you can extend that period as needed.

Meeting Your Needs With a Long-Term Car Rental

Millions of people turn to short-term vehicle rentals to meet various needs. Many aren’t aware that long-term rentals are also available. They can give you a long list of benefits when compared to purchasing a vehicle from saving money to giving you added flexibility and beyond.