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We acknowledge that deciding to buy or rent a wheelchair van is a big decision. We created the guide below to help you in make the right choice.
Purchase | 3 Months | 6 Months |
|---|---|---|
Average Price of a New Wheelchair Van | $80,000 | $80,000 |
Down Payment | $5,000 | $5,000 |
Interest Rate at 60 Months | 8.00% | 8.00% |
Monthly Payments | $1,520.72 | $1,520.72 |
Total Out of Pocket (Down Payment, Monthly Payment, Taxes, Etc.) | $14,012 | $17,824 |
Rental | 3 Months | 6 Months |
Average Monthly Rental Payment | $2,700 | $2,700 |
Total Rental Payments Out of Pocket | $8,100 | $16,200 |
Cost Savings Renting vs Buying +/- | $5,912.19 | $1,624.38 |
The chart above is an example of a short-term purchase of a wheelchair van versus renting. The figures are generalized to show the savings and breakeven point.
As you can see above, if you needed the wheelchair van for less than one year and rented instead of buying one, your breakeven point is around seven months.
The seven-month breakeven point considers that you rent daily for an entire month. It might make more sense to rent as needed for your needs, eliminating the cost for days you don’t. By renting as needed vs monthly, your breakeven point would be even longer than seven months.
As you can see, while we would love to sell you a wheelchair-accessible vehicle, it may not always be in your best interest. That’s the “Superior Difference,” and that’s why we are the largest family-owned mobility dealer in the nation! We take care of our customers like family.
Since every situation is different, we recommend that you contact any of our Superior locations and speak with one of our Mobility Consultants or our in-house financing department. Our team will conduct a detailed needs analysis, and then design a custom comparison personalized for you and your budget
