Nearly every new private hire driver asks the same question: should I rent a PCO car by the week, or lease one? There is no universally correct answer. It depends on how long you intend to drive, how much cash you can put down, and how much risk you want to carry yourself.
PCO car hire, week by week
You pay a weekly rate, hand the car back when you are finished, and the fleet handles the rest.
Hire tends to suit you if:
- You are new to private hire and not yet certain you will stay in it.
- You want servicing, MOT and maintenance to be someone else’s problem.
- You would rather not put down a large deposit.
- You need to be able to stop at short notice – illness, a change of plan, a trip home.
The trade-offs: week for week it is usually the most expensive way to have a car, you own nothing at the end, and mileage limits and return conditions still apply.
PCO leasing
A longer commitment, normally 12 months or more, at a lower weekly equivalent.
Leasing tends to suit you if:
- You have been driving long enough to know your real weekly earnings.
- You cover high mileage and want the lowest cost per mile.
- You want a newer or specific vehicle rather than whatever is on the forecourt.
- You can fund a deposit without emptying your buffer.
The trade-offs: you are tied in, early termination costs money, and more of the responsibility for condition and damage sits with you.
The five questions that actually decide it
Whichever way you go, get clear answers to these before you sign anything – from us or from anyone else:
- What is included in the price? Insurance, servicing, MOT, breakdown cover, tyres. Get it in writing, not in conversation.
- What is the mileage limit, and what does it cost if I go over?
- What happens when the car is off the road? Is there a replacement vehicle, and do I keep paying while I wait?
- What is the deposit, and what are the exact conditions for getting it back?
- What does it cost me to leave early?
A simple rule of thumb
If you are less than six months into private hire, hire. The flexibility is worth the premium while you find out whether the work suits you. If you have been driving a year or more, know your numbers and intend to carry on, sit down and compare a lease properly – over twelve months the difference is usually worth real money.
Talk it through first
We would rather tell you that hiring is the wrong answer for you than sign you into something that does not fit. That is what the free consultation is for.
Call 020 3633 9447 or book a free consultation.