Wheelchair Van Rental vs Buying: What's Best for You?

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.

If the chances are that you will need your Wheelchair Van for less than a year,
then renting might be a better option than buying.

Here's the Break Down:

When you buy and drive any vehicle off the lot, it immediately depreciates 9%-11% of its value.
When the vehicle is no longer needed, family members must navigate selling the vehicle.
Renting can save you from unnecessary bank interest, putting money down, taxes, titling, and bank & licensing fees.

Pros of Buying

Ownership creates an asset that can be sold at a later date.
Over time, the total cost of ownership is lower than renting.
No mileage or use restrictions.
Available vehicle customizations.
Available when you need it.

Cons of Buying

Higher up-front costs.
Yearly taxes & licensing fees (most states).
Ongoing maintenance & repairs.
Ongoing depreciation.
Resale options.

Pros of Renting

Option to rent different models of vehicles.
No long-term commitments.
Lower up-front costs.
No depreciation or maintenance costs.
No resale hassle.
You can swap for a newer model when available.
Only rent the days a vehicle is needed.

Cons of Renting

Higher out-of-pocket costs long-term.
Limited vehicle choices at times.
Unable to recoup costs as equity.
No asset to sell at end of rental period.

Comparing Costs of a Short-Term Wheelchair Van Purchase vs Renting Long-Term

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.

Seven Months is the Breakeven Point If Renting Daily

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.

Contact Superior Van & Mobility Today, For Your FREE Rental vs Buy Comparison

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