Annual and monthly car hires have become popular among people because of the numerous benefits. While conventional car rentals prove beneficial for weekend trips, short trips, and specific occasions, monthly and annual car rentals are used mainly by people who require a car for their everyday schedule. Some of the best small cars are available for rent for a month, which will give you a feeling of owning a car. Read this blog to know more about it.
How Does Long-term Hiring Work?
In general, a monthly or annual car rental is pretty similar to a traditional short-term rental, with the only difference being the duration. So, if you have hired a car on rent sometime back for a weekend getaway, you must have known how the whole thing works.
In the case of long-term hiring, the most significant benefit is that if you plan to keep your car for an extended period, the rental agency may provide you with an attractive discount on the rental rate.
This discount amount will differ for different car rental companies and depend on the mileage limit and car category you select—the mileage limit may be 1000 to 3000 kilometres per month. There will be enough flexibility, so you will have the option to choose the most convenient option.
When you choose a monthly car hire, you can keep it for several months and renew your contract according to requirements. Not only that, but you can also return the car before the end of the month.
What Are the Benefits of Monthly and Annual Car Rentals?
Renting a car monthly or annually will give you several benefits listed here.
A vital advantage of a long-term car rental is the price. If you compare, you will find that renting a car for an extended period will be much cheaper compared to what you will need to pay for a short-term rental. It happens because when you plan to rent a car for an extended period, the rental company will consider reducing the rate.
A long-term car rental is also a cheaper option when compared to purchasing a brand new car. In short, a long-term car hire will make you feel like having your own car at a much lower price.
– No Need to Worry about Document Renew
The advantage of renting a car from a top-rated rental company is that you will not need to take the headache of renewing or revising essential documents. The company officials will cover all the relevant documents like insurance, taxation, maintenance, etc.
Another significant advantage of hiring a car for the long term is that you can return your car whenever you want.
If you want to keep it longer, it will not be a problem. You can renew your contract and quickly get an extension.
Returning it earlier is also allowed. Only, you have to be aware of the minimum period because renting it ahead of time does not mean you will be charged less than what is mentioned in the contract.
– You Can Always Drive a Brand New Car
If you are passionate about driving new car models, going for a long-term car rental will be the best option to choose.
– No Need to Worry about Maintenance or Insurance
Because you are not the car’s real owner, you will not need to worry about its insurance or maintenance. You should not worry about renewal, too, because company officials take care of it.
If any issues occur with the car, contacting the rental company will be enough.
Moreover, note that basic protection is provided for cars available on long-term rentals. So, you will not even have to worry about any minor repairs.
– No Headache of Reselling
You may want to resell a car after a certain period when you own a car. However, finding a buyer and reselling it to them is not easy.
You may think of leaving your car at the dealership because it is a stress-free option. But this process will cost you huge. On the other hand, while you may avoid financial losses while reselling the car privately, it will be time-consuming.
Renting a car for a long period does not involve these things. Here, you can ask your car rental company to change the car. Not a single penny will be lost.
How Much Will It Cost?
The price will vary from one rental agency to another. It will also depend on several variables, including:
• How many kilometres you will drive
• The car category
The more kilometres you cover, the higher the amount will be. For a car of a higher category, too, the rate will be higher.
In Australia, compact, economy, and midsize models are the cheapest options you may choose. However, it will also depend on the drop-off and pick-up locations.
Is Long-term Car Rental a Suitable Option for You?
Long-term car rental is for people who do not want to have a car on their own. With the collaborative economy rising, this trend is expected to be followed in the following years. The following points will be helpful for understanding.
• Owning a car means you will have to invest ample time and money for its maintenance. A monthly or annual car rental will be the best option to avoid these things.
• This service will also work well if you tend to change cars frequently. Because the depreciation and expenses of buying a brand new car are pretty high, renting is the best option.
• Renting has another advantage over buying. When you purchase a car, your money will remain stagnant for a certain period. But when you rent a car, the money spent on the rent will continue to be invested.
Do Research on the Rental Company
Whether you go for cheap or luxury car hire, it is always important to research company credentials. Check their terms and conditions to determine if they suit your financial situation. Also, do not forget to check the validity of your driver’s licence.