Renting, Leasing or Financing? The Optimum Solution for PCO Drivers
It’s difficult to decide whether you want to rent, lease or finance a car when you are becoming a PCO driver. You may be unaware of your earning potential with Uber, unsure of whether you will be working part-time or full-time and perhaps whether this will be a long-term solution or not. At WeFlex, we provide flexible opportunities for PCO drivers to make a choice which suits them.
If you are just starting to drive with Uber as a PCO driver, then you will likely be unsure of what your potential earning capacity is. WeFlex highly recommend PCO drivers to initially begin their driving career with a rental agreement. With only a minimum four-week contract, and insurance, maintenance and servicing included, it is a perfect solution for prospective Uber drivers to get started- all you need to pay is the fuel.
To recap, if you are starting as a PCO driver then rental provides:
– Minimum 4-week contract
– Insurance, maintenance, servicing included
– An opportunity to assess your weekly earnings, and the type of car you wish to drive.
A Long-Term Solution
If you have decided that becoming a PCO driver is the way forward for you, or if you are a previous private hire driver, then it may be advisable for you to lease or finance a vehicle. At WeFlex we provide FlexiLease or FlexiBuy options, with FlexiLease starting at £79/week and FlexiBuy starting at £96/week. As a PCO driver, you will want flexibility, and WeFlex allows you to leave your contract with low termination charges (from just £99).
If you decide that you would like to own your own car, then financing a car through the FlexiBuy option is ideal, or if you want lower payments then our leasing option with FlexiLease is the agreement for you.
To clarify, if you are a previous private hire driver then finance or lease provides:
– The opportunity to own your car
– A longer term option (you lose your deposit if you terminate)
– But a more flexible contract than a regular finance agreement as we provide minimal termination fees
A Combined Solution
Fortunately, WeFlex provides all three solutions, so we can assist you in your career as an Uber driver. Regardless of your situation, a rental contract means that you can get on the road as soon as possible, and when you’re ready you may choose to pay a lower weekly fee with the possibility to own your own car through leasing and finance.