For drivers who want to earn through ride-hailing apps like Uber or Bolt but don’t have the capital to buy a car outright, there are normally two ideal options: PCO car hire and rent to buy.
With both these options, you can get behind the wheel of a fully licensed private hire vehicle without requiring huge deposits. However, this doesn’t mean that both the options are the same. There are some differences between them, and in this article, we will look at what those differences are. Let’s dive in.
What do you get with PCO car hire?
PCO car hire schemes have many benefits, including:
Fully Licensed PCO car
With PCO car hire UK, you get fully licensed private hire vehicles on simple terms. In most cases, you can start driving on the same day you request to rent a car.
Here’s why it matters: When you try to get your car licensed on your own, you have to spend a lot of time dealing with paperwork related to licensing, ensuring that your car is compliant with TFL standards, and eliminating any surprise issues that could later turn into hefty repair bills.
There’s no such thing with PCO car hire. You simply go to the car provider, tell them your requirements, and they will provide you with a car that works for you.
Servicing
As a PCO driver, your car is your business – your source of income. The more time it spends off the road because of car issues, the more money you will lose. One of the biggest advantages of PCO car hire programmes is that they include regular servicing of the car as well.
This means you don’t have to worry about oil changes, brake changes, or any other factors that help your car run smoothly. The best part is that there are no additional fees for this as well. You just have to pay fixed weekly payments, and everything will be taken care of for you by the car provider.
Roadside Assistance
Imagine you are doing your shift, and suddenly, your car breaks down in the middle of nowhere. Now you are stranded, responsible for finding a car repair garage, and taking your vehicle there all on your own. Not only is this inconvenient but it will cause frustration to passengers as well.
With PCO car hire, you get roadside assistance included in the package so you can stay on the road and keep earning. It doesn’t matter if you are facing a flat tyre, an electrical failure, or something more serious, you just have to make a call to your car provider and help will be on the way.
MOTs
Every PCO driver dreads the MOT test because it’s what determines whether your car is roadworthy or not. Even if you are trying your best to keep your car in top shape, sometimes issues can be found with the car and you cannot drive it until repairs are completed.
An MOT test includes the checking of:
- Mirrors
- suspension
- brakes
- fluids, and
- steering. fuel system
- lights
- seatbelts
- Tyres
- Windscreen wipers
- Exhaust system, etc.
With PCO car hire, you never have to worry about MOTs because they are part of the package. Your car provider will take care of everything from booking appointments to ensuring their cars meet MOT standards. This allows you to focus on driving and earning.
PHV Road Tax
Another cost that comes with driving a PCO-ready car. If you don’t pay the road tax, you won’t be able to carry passengers legally, and this means no earnings.
A great thing about PCO car hire schemes is that they include road tax as well. This means you don’t have to worry about paying it or keeping track of the dates.
The amount of road tax varies from car to car. The cost could be hundreds of pounds annually for petrol and diesel vehicles. However, the fee is lower for hybrids and PHEVs. For EVs being used as private hire vehicles, there is no road tax.
What do you get with PCO rent to buy?
PCO rent to buy schemes have many benefits as well. Some of their top benefits include:
PCO Car Check
No one wants a car that’s riddled with issues. That’s why PCO rent to buy schemes include car checks to ensure that the vehicle is in top shape. A PCO car check is a thorough check that is performed to ensure your car is free from any issues that could stop you from making money on the road.
As a PCO driver, breakdowns can be costly, and if your car doesn’t meet TfL’s safety standards, you could be out of work for a long time. The PCO rent to buy companies ensures that you don’t face such problems by conducting PCO vehicle inspection regularly.
Vehicle Maintenance
PCO cars are on the road far more than average cars. They cover thousands of miles every year, which means more wear and tear on brakes, engine, and other components. Because of all this, regular PCO vehicle maintenance is essential to keep your car in top condition.
The good news is that you don’t have to worry about maintenance when driving rent to buy cars because your car provider will take care of this aspect. They are responsible for:
- Regular check-ups
- Oil changes
- Brake replacements
- Tyre checks, and more.
The costs will be included in your package. You just have to pay a fixed weekly instalment without worrying about hidden costs or unexpected financial hits. This allows you to budget with confidence.
Insurance
PCO insurance is different from regular car insurance. It’s more expensive and complicated because you spend the majority of your time on the road driving through busy London traffic. Annual policies typically range from £2,500 to £5,000+, and paying that upfront is impractical for many PCO drivers.
With PCO car rent to buy packages, you can have peace of mind knowing that insurance is included in your plan. This means if you are involved in an accident or a passenger makes a claim against you, you won’t have to pay the expenses from your own pocket. An insurance company will cover the costs for you.
Car Body Repairs
The traffic can be unpredictable on London’s roads. No matter how skilled you are at driving, there’s always a chance that a careless driver will bump into your car or that your car will receive some dents or scratches while you are parking in a tight spot.
When this happens, you will need to get your car’s body repaired, and PCO car body repairs aren’t cheap. They can cost hundreds or even thousands of pounds. This is why rent to buy plans that include repairs are gaining popularity among PCO drivers. With these plans, you don’t have to worry about extra costs taking a bite out of your profits. The car provider will be responsible for ensuring that your car always looks professional and remains compliant with TfL regulations.
Ownership at The End of The Term
Every PCO driver wants to own a car, and one of the most manageable ways to do so is rent to buy plans. With these plans, you pay affordable weekly installments for an agreed period. The period is normally 3-5 years. Once you have completed the contract, the car becomes yours. You can use it without any restrictions or mileage cap.
It’s up to you whether you want to keep the car or sell it after you become the owner. If you decide to keep the car, you can continue driving it without any weekly fees. If you choose to sell, you can upgrade to a newer model. In both cases, you are in full control.
Final Thoughts
Both PCO car rental and rent to buy cars have several advantages. With PCO car rental, you get fully licensed PCO cars, servicing, roadside assistance, MOTs, and road tax included. With rent to buy PCO cars, you get regular checks, vehicle maintenance, insurance, car body repairs, and ownership of the car at the end of the term. If you want a short-term commitment that gives you the flexibility to end the contract whenever you want, then PCO car hire will be perfect for you. However, if you want to make a long-term commitment that leads to car ownership, then rent to buy cars will be a better option.
