Van leasing is when you pay a monthly van rental charge. Think of it as a rental, but usually for a long time. In the beginning, you are going to pay a little initial rental, a monthly rental cost, and then you are going to return your van to the end. The van leasing cost is very much affordable and that’s one of its advantages.
Van Leasing Benefits
The following are the advantages of leasing a Van:
Monthly payment is affordable: This is one of the most important leasing advantages. It helps you to maintain the monthly budget up by spreading over time your payments and keeping your outputs low.
Not Dealing With A Depreciated Asset: Vans, like nearly all vehicles, lose value with time. You won’t be left with a used van to sell if you lease. You just return the vehicle at the end of your contract and have the option to upgrade to a new model, just like you would with a cell phone.
Coverage for Advanced Breakdown: When you lease a van, you’ll also be eligible for features like Advanced Breakdown Cover, so you’ll never have to worry about your business being stranded.
Extra Savings in a Variety of Forms: For the first three years, you won’t require an MOT or road tax on a fresh new van. You may also claim this back on a business card if you’re VAT registered.
The Step-By-Step Guide to Leasing a Van
1. Pick Your Van
The first step is to select the vehicle of your choice. We provide a large selection of the most recent models to help your company appear its best.
2. Select a Lease Package
The next step is to select the sort of lease you want, as well as the length of time you want to lease for (usually 2, 3, or 5 years) and the number of miles you expect to travel during that time.
3. Fill in the details of your finances
To get financing from one of our partner financial firms we then require certain data from you. They will examine the loan to confirm that the monthly installments are available. You tell us how much you can afford to pay initially and we’re going to collect a deposit for your new vehicle to secure.
4. Van Delivery
Once all the paperwork has been handled, you’ll be delivered to your home directly from the dealer!
5. Take use of your Van for your lease agreement
And that’s all, for the duration of your rent, you will keep your company rolling.
6. Return the Van You Rented
Then, after the lease, you just return the van and, if desired, change to a newer model and begin the process all over again.
Different Leasing Options
There are three major leasing choices to choose from. Van Business Contract Hire, for example, is one of the most popular types of leasing. Van Business Finance Lease and Van Contract Purchase are the other options, both of which include the opportunity to purchase the vehicle after the term.
Van Business Contract Hire
Van Business Contract Hire, which is leasing in its simplest form. You pay a monthly charge for driving and returning your car after the arrangement.
Van Contract Hire has several advantages, such as the lowest initial costs of all the alternatives, inexpensive monthly payments, and no danger of being trapped with a depreciated vehicle after your contract.
Van Contract Purchase
Van Contract Purchase is usually available to people who are serious about owning the van at the end of their leasing contract. Contract Purchase, unlike the other two choices, allows you to buy the vehicle outright.
You still have the benefit of set monthly payments with this choice, but they are often more than the other two. In addition, you will be responsible for the final payment.
Van Business Finance Leasing
When you lease a new van, you pay a monthly charge to drive it, but after the lease, you are responsible for the vehicle. As a result, in addition to the original rental, you will make a final payment.
There are advantages and disadvantages. You could sell the car, pay the last payment and earn a profit if the price of the vehicle is greater than after the lease. Nevertheless, there is always a danger that the car may decrease its value, and you are responsible for paying a balloon greater than your car’s value. After the rent, you cannot own the vehicle yourself, and you must sell it on.