Finding the best option to drive in London is very significant to avoid any kind of inconvenience. The two major choices you have are either to buy your car or to hire one. When hiring a car to drive in London, the most commonly known methods are rent to buy or PCO hire. Let’s discuss the major difference you need to know between both of them to make the right choice for yourself as a driver.
What is Rent to Buy for Uber Drivers?
This is a full time car rental scheme in which the drivers rent the car initially. This is a long term commitment of a driver with the company, and the perfect alternative to leasing a car.
How Does the Rent to Buy Scheme Work?
The rent to buy scheme is a slow payment scheme. In this scheme, the driver hires a car based on a monthly or weekly payment commitment by just paying the initial deposit amount. And the driver owns the car at the end of the contract with the company. This model is usually famous among full time, or permanent drivers looking for a slow payment method to own a car.
Benefits of Rent to Own
When you opt for a PCO rent to buy method of hiring a car, you get a wide variety of benefits. The slow payment tops the list of benefits as you do not have to pay the whole amount upfront. But you can opt for monthly payments, while earning and paying side by side. This is how it saves you from the financial burden.
Moreover, you can own the car at the end of the contract with the company. The key benefits of the rent-to-buy scheme are that it provides you with the best return on investment (ROI) in the form of a long-term asset, along with car ownership.
What is Monthly PCO Hire?
Monthly PCO hire is the rental scheme for drivers, specifically designed to help drivers earn a living. In this method, instead of leasing or buying a car, the drivers opt for hiring a car and driving to earn money.
How Does Monthly PCO Hire Work?
The monthly PCO hire is a model working on a temporary car hire model. In this model, the drivers hire a car for their work and instead of leasing, they just pay the monthly or weekly fee, and keep driving until the contract expires.
Benefits of Monthly/Weekly PCO Car Hire
Monthly or weekly PCO car hire plans give you so many benefits. This is the perfect choice for people looking to start instantly without being subjected to the commitment of ownership. Hiring a PCO car allows you to get the road-ready vehicles, with all kinds of insurances covering public liability insurance or full coverage. In this way, the driver is saved from the liability of any kind of damage occurring to the car or even the passenger while driving.
Rent to Buy vs PCO Hire: Which One Is Better?
The following are the key points you need to compare before finalising the perfect choice for yourself as a driver.
Cost Comparison (Upfront & Monthly)
When talking about the payment method or cost comparison, a rent-to-buy scheme usually has the upfront fixed deposit payment method. And after the deposit payment, you just have to pay the weekly or monthly payment, whichever you are planning to get the car ownership at the end of the contract. On the contrary, the PCO car hiring is another car rental option that suits the best for people looking for affordable yet reliable options to hire a car. This costs you less than the rent to own scheme as it is just the weekly fee and you don’t get the ownership at the end. This includes very less and flat monthly and weekly fees, which are easy to pay.
Flexibility & Commitment
Zoom PCO hire wins in terms of flexibility of contract. While rent to buy a vehicle is a long term commitment that can last for a specific time, the monthly car rental in London is just a short term contract starting from a month. It can last up to the time you want, providing you the freedom to cancel anytime on short notice without any fear of breaking the commitment. As it is a contractual commitment, it binds you to continue paying until the vehicle is paid off completely. Hence, this can be a perfect choice for people looking for stability.
Ownership & Long Term Value
The main appeal of Rent-to-Buy is that you’re working towards ownership. After completing your payment term, the vehicle becomes yours, giving you a valuable asset with no more rental fees. This offers long-term financial value, especially for those planning to drive full-time or expand into other transport-related ventures. With PCO Hire, you never own the vehicle, no matter how long you drive it. It’s a continuous expense with no asset gain, making it more of a running cost than an investment. If you’re looking for long-term stability, better ROI, and eventual car ownership, Rent-to-Buy is the clear winner.
Choosing the Right Option for Your Driving Goals
Ideal for Full Time Uber Drivers
The PCO rent to buy is the ideal choice for people looking to pursue ride hailing or driving as a full-time career choice. This can help you not only pay the monthly amount of your contract, but also earn a handsome living for survival. This is compatible with ride hailing apps like Uber, Bolt, and many more. Moreover, this rent to buy car scheme allows you to own the car at the end too, hence making it the best choice for full time drivers.
Best Fit for Part Time or New Drivers
PCO car hiring is the best option for people looking to start instantly or wanting to pursue it as a part-time career, or for fresh drivers in their testing period. This monthly car rental in London allows you to get insured vehicles, hence allowing you to start driving instantly without any delays. Therefore, it is the most common model for a short time.
Final Verdict
Therefore, based on the facts and key points mentioned above, the drivers get enough information on what to pick according to their needs and requirements. So pick accordingly and make driving in London more seamless and easier.
Frequently Asked Questions
What’s the difference between Rent to Own and PCO Car Hire?
Rent to Own allows you to pay weekly or monthly for a car with a fixed deposit initially, and you can own it at the end of the contract with the company. PCO Car Hire, on the other hand, is purely rental; you hire a PHV licenced car with a monthly or weekly payment commitment, drive it for a set period, and return it at the end without ownership.
Which option is better if I want to eventually own the car?
If ownership is your goal, Rent to Own is a better option. It lets you spread the cost over time while using the car for work, and you keep the vehicle once all payments are made.
Is PCO car hire more expensive than rent to own?
Not necessarily. While weekly payments for Rent to Buy can be higher, they go toward ownership. PCO Hire might seem cheaper upfront, but it offers no long-term value, as you return the car with no asset to your name.
What are the maintenance responsibilities in both options?
When hiring a car, maintenance is usually included by the provider. In Rent to Buy, basic maintenance may be covered initially, but you’re often responsible for servicing and repairs as the vehicle becomes your property.
Can I switch vehicles easily with Rent to Own?
Not easily. Rent to Own automobile contracts are long-term and less flexible. If you need a short-term or temporary car, the monthly car rental London gives you more freedom to switch vehicles or pause services.
Which option is best for new or part-time drivers?
PCO Car Hire is more suitable for part-time or new drivers who want to test the waters without long-term commitment. Rent to Buy car scheme works best for full-time drivers planning to stay in the business long term.
