3 Factors to Consider When Renting Commercial Vehicles

In need of a commercial vehicle for cargo transportation? Or looking for a logistic service to complement your business? Renting a commercial vehicle can be an ideal option. Opting for a lease of commercial vehicles eliminates unnecessary costs and all the hassle of owning one yourself. Often, the commercial vehicles you buy would end up in disposal, hence renting one serves as a flexible mode of vehicle fleet operation. Nonetheless, the leasing process may be tedious especially if you have never done it before. To ensure a smooth transaction, we have curated a list of considerations for commercial vehicle rental in Singapore.

1. Budget 

Plan your budget carefully to ensure your leasing option matches your requirements and expenses. There may be circumstances where you are unable to rent a suitable commercial vehicle within your budget. In this case, you should either opt for a more expensive commercial vehicle or lower your expectations in terms of vehicle specifications and features to find one that fits your desired budget. In addition, it is advisable to allocate a sum of money in advance for deposit payment of renting a commercial vehicle. The vehicle type, leasing duration and rental firm are among the aspects that determine the deposit amount. 

2. Leasing duration

In general, the majority of firms that provide vehicle leasing services in Singapore offer rentals in short term and long term. Refer the following leasing duration options to find out how they are different from each other.

• Yearly rentals

Suitable for regular transportation of items for the entire year. A great option for businesses in the industries of furniture, construction, logistics, e-commerce, courier and cleaning, among others. In the long run, you will be able to save up as yearly rentals often incur lower costs per trip compared to short term ones.

• Monthly rentals

If you would like to know whether commercial vehicle rentals are suitable for your business, monthly rentals are worth a try. Instead of going for a long-term lease directly, monthly-based rentals allow you to only rent the vehicles when you need them. This helps you to achieve cost efficiency as you do not have to pay extra for commercial vehicle rentals in Singapore when they are not in use regularly. 

• Weekly rentals

Categorised under the short-term leasing options, weekly rentals are ideal for seasonal businesses. For example, there are events being held for weeks at your company and commercial vehicles are required for a series of restocks, set up and teardown services. 

• Daily rentals

These work the best for ad-hoc purposes such as office moving, weekly food delivery and others. You may opt for these rentals if you are looking to make multiple trips within a day or days. Compared to vehicle rentals that charge based on a trip, daily rentals are more cost-saving.

3. Type of vehicle needed

Identify the type of vehicle required for your particular operations. Every vehicle type comes with different features and serves for respective purposes. Most commercial vehicle rental service firms provide light goods vehicles for leasing in Singapore. These include lorries and vans. Understand how you would like to use the vehicle and how you want it to contribute to your business. Here are the availability of fittings you should check for when leasing a commercial vehicle:

• A chiller/ freezer

• An open deck

• An enclosed cargo space

• A canopy 

etc

To be specific, lorries are usually deployed to move mattresses, washing machines and other bigger items from one place to another. Before proceeding to lease a lorry, bear in mind that some lorries may be subjected to certain restrictions, such as the height of buildings and car parks. They may be disallowed from entering particular car parks. On the other hand, vans can be put into use for various purposes like postal and courier services, mobile workshops and passenger transportation, etc. Meanwhile, some businesses even opt for purchases of used commercial vehicles in Singapore.

Learn more: 4 Things to Note When Renting a Lorry

Considering the factors above should enable you to rent a commercial vehicle that matches your operational needs within your budget. Seek professional advice from top commercial vehicle service providers if you need further clarification on the fittings and functions of a certain type of commercial vehicle.

Whether you’re looking for leasing or purchasing a vehicle for your company, Think One can meet all of your needs. We offer many services from renewing insurance and road tax to hire purchase schemes. Contact us today!