Should you buy or lease a van for your business?
When contemplating getting a van for business purposes, it is an investment that needs to be thought of with great care. Should you lease a van or buy one? That is the question.
Here is all you need to know about buying and leasing vans to see which option is best for you.
BUYING A VAN
When you buy a van; you own it and you can relax knowing that you have paid it off and can enjoy it however you wish. You don’t have the worry of contract limits and if you ever get fed up of the van you currently own, you can sell it on and buy a new one.
However, if you do buy, you will be responsible for any damages or repairs that are needed as well as your road tax, which is something to bear in mind. Despite this, remember it is just the normal routine you would have with any other car that you would own.
LEASING A VAN
If you are short of cash or are looking for an expensive van that you can afford over a set time period rather than a one off payment, then leasing would be the ideal solution for you. The only upfront cost would be a deposit which isn’t all that expensive.
However, if you lease, you will have to monitor the mileage you are doing very closely. An estimated mileage will have been agreed within your contract forms, therefore a breach of these conditions will result in paying a little extra. Again, leasing is a long-term agreement which will need to be paid despite your changing circumstances.
Whether you decide to buy or lease a van for your business, both have fantastic benefits. However, it is all dependant on the option that is best for you. If you would like any further information, please contact us today!