Planning to hit the road for an extended period of time for vacation, business or to visit family and friends? This means you need a reliable set of wheels to get around. You have a few options: borrow a ride from a relative or friend, enter into a short-term lease agreement or reserve a long-term rental. The first suggestion is a bit of a stretch, so let’s take a closer look at the other possibilities.
Long-Term Rentals
Similar to a standard rental, this arrangement offers a reliable form of transportation for as long as you need it, claims EnlightenMe. All you have to do is gas it up while it’s in your possession. When you’re done, all you have to do is relinquish the keys, no strings attached.
Additional benefits to consider:
- Monthly discount. If the vehicle is in your possession for more than 30 days, a monthly discount is typically extended.
- 24-hour roadside. In the unfortunate event the vehicle breaks down on the side of the road, roadside help has you covered.
A few drawbacks to consider:
- Monthly fees. Long-term rentals are a bit costly because they sometimes require the driver to carry pricey insurance coverage.
- Security deposit. Depending on the company, this amount could skyrocket if you plan to use a debit card or have credit issues.
- Early cancellation penalties. These will be incurred if the vehicle is returned prior to the minimum criteria of one or two months, depending on the rental car company.
DriveTime’s Cancel Anytime Lease
This is a twist to the traditional lease programs most dealerships offer, explains DriveTime’s social media pages. You’re in essence leasing a car on your own terms. An agreement is required, but it can be modified, upgraded or cancelled at any time.
Additional benefits to consider:
- A low-down payment of $895. In lieu of the hefty security deposit mandated by rental car companies, $895 is all you need to drive off the lot, regardless of your credit score.
- Flexible mileage limits. Traditional leases stick you with low limits and empty out your wallet when you go over, but this plan is more flexible.
- Limited warranty coverage. For the life of your lease, you can rest assured all the major systems in the vehicle are covered.
- All-inclusive oil changes and power train repairs. No need to panic when it’s time to service the vehicle. Now, you can keep more money in your pocket.
- The accumulation of rewards to be used towards future leases. And, if you decide to take the ownership route instead, the rewards can still be applied to help offset the purchase price.
A few drawbacks to consider:
- The $895 down-payment is only extended to vehicles in the starter class. But don’t fret. There are other affordable options available.
- Only used cars are available. However, there is a wide selection of reliable and stylish vehicles to choose from.
Choosing the Right Option
If you’re looking to secure a vehicle for an extended period of time without breaking the bank, the Cancel Anytime Lease Agreement is the way to go. Also, take a look at long-term rental options from reputable companies, such as Enterprise, Budget, Hertz and Dollar.
