With the current cost-of-living crisis, it’ll come as no surprise that many individuals are looking to cut back on spending where possible. If you’re currently deciding whether to hire or buy a car, we’re here to provide valuable insight, weighing up the pros and cons of committing to monthly payments on a purchased vehicle vs. renting a car as and when required.

At Caversham Vehicle Hire, we’re pleased to offer affordable, reliable, car hire services across Reading and Newbury. Whether you’re looking to hire a car for the weekend or on a long-term basis, we can provide the ideal solution to suit your needs. To discover more about our unrivalled services, speak to one of our experienced team members today.

Should I Hire or Buy a Car?

Buying a car is an expensive endeavour, and finding a model that perfectly suits your lifestyle could easily eat up an entire year’s salary. Even if you manage to find the right vehicle on finance, you’ll still have to shell out a considerable deposit and bear the burden of costly monthly repayments, on top of any existing direct debits.

If you live in an urban area and don’t require the use of a car every week, it could be a far more affordable option to hire a vehicle rather than buy one outright. Most cars decrease in value from the moment you buy them. If yours is sitting on a driveway 60% of the time, the amount your car is worth could deteriorate at an even faster rate.

A great alternative to buying a car, hiring a car for a month or a few days every now and again could save you money in the long run. Some additional benefits include:

• Maintenance & Repairs
When you rent a car, you don’t need to worry about maintenance and repair costs. Your chosen rental company will take care of any routine maintenance and cover the expenses of any necessary repairs.

• Variety & Flexibility
Car hire companies offer a wide range of vehicles, giving you the flexibility to choose one that best suits your current circumstances. Whether you’re looking for a small car to whisk you and your partner off on a romantic weekend away or a spacious 4×4 for a family holiday, you can easily find the right vehicle to suit your needs.

• Insurance Coverage
Most vehicle hire companies will provide insurance coverage for the car. While you may still be required to pay for optional extras, the overall insurance cost will probably be lower compared to owning a car and maintaining your own insurance policy.

• No Long-Term Commitment
Buying a car is a long-term commitment, leaving little room for flexibility. When you choose to hire a car, whether it’s for a long or short-term rental period, you can return the vehicle when you no longer need it, or upgrade your model if required.

• Eliminate the Hassle Of Selling a Car
When you buy a vehicle, you’ll eventually need to sell it or trade it in, which can be an incredibly stressful experience. Renting eliminates the hassle of selling a used car – simply return the vehicle to your chosen hire company when you no longer need it.

Hiring a car can be a flexible, convenient and cost-effective option, especially for those who don’t require the use of a car daily.

What to Know When Hiring a Car

So, you’ve considered whether to hire or buy a car and have concluded that hiring a car for a weekend or a month at a time is the most suitable option for you.

When hiring a car, there are several important things you should know to ensure a smooth, stress-free experience. Some key points to keep in mind are:

• Age Restrictions
Check the minimum and maximum age requirements for renting a vehicle.

• Insurance
Understand the insurance coverage provided by your chosen hire company. Basic insurance usually covers damage to the rental vehicle and liability in case of an accident, but it may have exclusions. Consider whether you need additional insurance.

• Rental Agreement
Read the rental agreement carefully before signing. Pay attention to rental duration, mileage limits and fuel policies. Be sure to ask your chosen hire company to clarify if anything is unclear.

• Vehicle Inspection
Before accepting the car, thoroughly inspect it for any existing damage. Note any scratches or dents and take photos for evidence. This helps to avoid disputes over damage when you return the car.

• Return Policy
Understand the return procedures and be sure to bring your vehicle back on time to avoid additional charges.

• Additional Drivers
If you plan to share the driving with someone else, make sure your rental agreement includes all the authorised drivers.

Is it Cheaper to Hire or Buy a Car?

The cost advantages of hiring a car make it an incredibly attractive option for individuals who don’t require the use of a car frequently, or those seeking a budget-friendly solution for a short period of travel. By opting for car hire, individuals can enjoy the convenience and flexibility of having access to various vehicle makes and sizes, without the financial burden associated with ownership.

Whether you’re looking to hire a car long-term or for a one-off business trip, at Caversham Vehicle Hire, we can provide the ideal solution for you. Our fleet of vehicles has something for everyone, ranging from domestic-use cars to commercial vans. To discover more about our vehicle hire services, get in touch with one of our friendly, experienced advisors today.