How PCO car hire can help you earn more than owning a car?
Many PCO drivers believe that owning a car is the only way to earn a high income. However, the reality might be completely different.
Owning a car comes with many headaches. For instance, you are responsible for insurance, maintenance, licensing, repairs, and so much more. Plus, you have to pay high upfront costs just to get started.
These costs can eat up a lot of your profits. Most drivers are starting to realise this and switching to PCO car hire because this option eliminates many troubles that come with car ownership.
In this article, we will look at different aspects that make hiring a car an ideal option for PCO drivers. Let’s get started.
Advantages of pco car hire over car ownership
No big upfront costs
When buying a car, whether hybrid or electric, you are required to pay huge upfront costs. These costs are often in thousands and let’s be honest, not every PCO driver has this much money.
On the other hand, PCO vehicle hire companies require zero deposits or small upfront fees that most PCO drivers can easily manage. This means no savings for months, loans, and borrowing from a friend.
The moment you sign the contract and make the deposit, you can start earning.
No lengthy paperwork. No waiting. Only a fast process that often takes minutes. However, you must have a valid PCO licence to offer rides legally.
No maintenance headaches or surprise bills
Most PCO drivers know that buying a car comes with never-ending bills. You are responsible for regular servicing, MOT checks, tyre replacements, oil changes, and repairs.
Plus, you have to deal with unexpected breakdowns that often leave you stranded in the middle of nowhere.
With PCO hire, you don’t have to deal with any of this. The car provider will be the one taking care of everything for you.
Some will even provide you with a replacement vehicle when your car is off the road because of a serious issue so your ability to earn is not affected.
This not only gives you peace of mind but also allows you to focus on what matters: driving and earning.
Insurance and licensing sorted
Owning a PCO car means you will have to find the right insurance plan, and PCO car insurance cost is significantly higher than regular car insurance. Plus, there is road tax, PHV licensing, and a lot of complex details that you have to go through on your own.
Even the most experienced drivers struggle to deal with this stuff properly. If you are a new driver, you will definitely need professional assistance which could cost you extra money.
A good thing about PCO rental cars is that your weekly fee often includes costs related to insurance and licensing. This means you won’t have to visit multiple offices in hopes of finding the right insurance policy or apply for your vehicle’s license renewals.
Your car provider will be the one taking care of this stuff.
Upgrade without hassle
The ride-hailing industry is evolving at a rapid pace. A few years ago, the majority of drivers were driving petrol/diesel cars. But now, major platforms like Uber and Bolt are giving priority to electric vehicles.
EVs are eco-friendly vehicles and exempt from ULEZ charges (a £12.50 daily charge).
If you own a car that doesn’t comply with ULEZ regulations, you will either have to sell it – which can be a lengthy process – or pay the daily charges which can shrink your profits.
With PCO car hire, you are not tied down to a car that doesn’t meet changing regulations. You can switch cars whenever you want, according to the market demands.
Access to high-paying jobs
Driving premium vehicles is an excellent way to take your income to the next level because people who ride in these vehicles pay higher fares. However, premium cars such as electric 7 seaters or high spec hybrids are extremely expensive and owning one is unrealistic for most drivers.
PCO hire eliminates this worry as you can access premium PCO vehicles for a weekly fee.
Premium cars are a game changer for PCO drivers because suddenly you are eligible for UberXL, Bolt XL, and high-end private transfers.
While other drivers will be competing for standard fares, you will be doing business trips, airport runs, and group bookings that pay double or even triple the regular amount. That too, without needing thousands of pounds in your bank account.
Avoid depreciation losses
A major downside of owning PCO vehicles is that they lose value over time. Let’s say you bought a car for £30,000 and drove it every day for the next three years. During this time, it covered countless miles and received significant wear and tear.
When you go to sell this car, you will probably get around £15,000 if you’re lucky. That’s half the original price.
With PCO hire, depreciation is not a problem. You don’t have to worry about maintaining your car’s resale value or finding a suitable buyer. You simply drive a car and when you want to upgrade, you just return it to the provider. No drama. No strings attached.
More flexibility and less risk
Hiring gives you flexibility that car ownership never will.
Let’s say you are only testing the waters of the PCO world, or you are in it part-time. Whatever the reason, PCO hire helps you achieve your goals without any long-term commitment.
With it, you get the freedom to move on if your circumstances change.
Want a standard car when the business is slow? Reduce your expenses with PCO hire.
Maybe you want to do airport runs in a vehicle with ample boot space? Hire a larger vehicle and hit the ground running.
The point is, you can try different things with PCO car hire. On the other hand, if you own a car, the choices are limited.
Conclusion
Owning a PCO car may seem like a good choice on paper. But in reality, it comes with long-term commitment and various costs that can be easily avoided with PCO car hire. Whether you are a new driver or an experienced one, PCO hire offers a more profitable way to succeed in today’s competitive market. So, make the right choice and stay ahead in the game.
