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DRIVING SEAT IN THE


looks as if you have negotiated a fantastic on-the-road price, it will invariably be much higher than that paid by a leasing company, which procures thousands of vehicles every year. Unplanned repairs can quickly eat


into tightly controlled budgets, with year-on-year price rises threatening to outstrip available funds. And there’s always the risk that the vehicle depreciates in value more quickly than expected, leaving you stuck with a minibus that is now less economical, less environmentally friendly and even less safe than newly available models.


Need a minibus but unsure what’s best for your school’s needs? Lorraine Shaw from the School Minibus Company has the answers


F


or many schools, choosing whether to lease or buy a minibus is a simple decision. It’s a choice that rarely gets


questioned and, as a result, is unlikely to change. However, as every teacher knows, it’s good to take a step back every once in a while and consider whether it’s time for some fresh thinking.


Buying outright Choosing to buy a vehicle outright means that it becomes an asset that


52 SPRING 2019 FundEd


the purchaser can use in any way they want, and for as long as they want to do so. As a result, it’s an option that would appear to suit some organisations quite well, but do the pros outweigh the cons? Purchasing a vehicle invariably


means making a large upfront payment. While this might not necessarily be a problem, it’s worth considering whether those funds could be put to better use elsewhere. Then there’s the question of buying power because, even if it


Is it better to hire? Contract hire is a long-term hire of a vehicle, where you pay a fi xed monthly amount to drive it within agreed mileage parameters over a set period – this is usually between two and fi ve years. The amount paid is largely based


on the difference between the cost of the vehicle, which, for the contract hire company will be at a lower price than is generally available, plus any customisations and service options, and the anticipated resale value at the end of the contract. Contract hire avoids the need


for a large upfront payment and the costs are fi xed for the entire agreement. This can include maintenance, which not only protects you from unexpected bills


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