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The biggest expense you will encounter when starting a car rental business is, of course, the funds you will need for the acquisition of all the vehicles you intend to rent to your customers. This expense can be enormous and might put you out of business before you even get started.
Managing the ownership of an entire fleet of vehicles can be an overwhelming task. So is there a better way? Yes. By leasing your fleet of rental vehicles instead of buying outright or financing them, you can leverage your business start-up funds and use it for more important things like hiring staff, furnishing your office, setting up a computerized car rental management system and saving extra for emergencies and working capital.
It's important to keep up-to-date on the car rental needs in your community. If your business is located in a business district you should consider acquiring mid to large size vehicles in your fleet. Outside of business districts or smaller populated areas may demand more compact or small size vehicles or even pickup trucks and vans.
A leasing company who has decades of experience leasing vehicles to car rental companies understands what conditions and factors are necessary to be successful. They can assist you in creating a solid financial plan that works for your company's budget and to encourage your company's future growth.
Owning a car rental company can be a very profitable business if it is located in the most strategic location and you are able to leverage your available funds. Find out more how equipment leasing of your next vehicle fleet acquisition can be less risky versus purchasing and also an advantage for your new or older car rental business.