Let the rental agency
take the initial depreciation hit. It's no secret that new cars lose often 20-30 per cent
of their value in the first year. That's why two-thirds of Canadians favor buying used over new, with more making the switch every day.
The advantage of buying a rental car is that the vehicle was purchased new at a
special fleet price, so the theory is that it can be resold at a lower price point than a
privately purchased model.
Rental vehicles are often better
maintained than private vehicles. Agencies have to take care of
their fleet to protect the investment they made in each vehicle. They're also compelled to keep
careful maintenance records to protect themselves from lawsuits should a renter be involved in a car accident. The
rental company performs safety inspections and documents maintenance to prove
due diligence. As someone considering purchasing a daily rental vehicle, these are important benefits to keep in mind.
Rental cars are sold at
low mileage, typically 30,000 km or less. This way the agency can maximize its
investment by getting a good price for its fleet vehicles before they
depreciate too much. It is rare that privately owned vehicles come off the road with mileage this low.
In addition to getting
the balance of the new-car warranty, buyers sometimes get a short-term
guarantee to fix problems that become immediately apparent. Extended warranties
are also offered for purchase at a reasonable price. The intent is to alleviate
the concerns of consumers.
We would all like to be able to buy brand new cars every time it comes time to find a new automobile, but unfortunately this isn't always feasible. By purchasing a daily rental vehicle, you have the opportunity to buy high quality vehicles that have that 'brand new' feel.
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1871 McCowan RdTORONTO, ON M1S 4L4