5 reasons to lease rather than buy your van
Added: 01 March 2019
If you’re considering purchasing a new van for your business to help you make those all-important deliveries, then make sure that you read this informative article first. We’re about to tell you why leasing a van could be a far better alternative to purchasing a vehicle outright.
Here are five reasons why leasing a van could work in your favour:
1. Hold on to your capital
When you’re just starting out with a new business venture, having a chunk of capital available to help you pay for essentials is crucial for success. Buying a new van outright can take a huge chunk out of this pot of money. Leasing a van means you can hold on to that capital and still have a great quality commercial vehicle at your disposal for as long as you need.
2. No depreciation
As soon as you drive your new van off the dealership forecourt, it starts to lose its value due to depreciation. When you lease a van, this is something that you'll never have to worry about as the vehicle is leased and you're able to upgrade the van once your contract comes to an end.
3. No maintenance costs to worry about
Buying a van outright makes you accountable for its maintenance costs. When you lease a van, the leasing firm you’re dealing with covers all of these costs and ensures that you’re never out of pocket should the leased commercial vehicle need servicing or essential repairs.
4. Flexible contracts
With contracts spanning various timeframes, it's easy to find a van for lease with a contract that suits your needs perfectly and offers you the flexibility you need. With a leased vehicle, you can select from 12, 24 or 36-month contracts so you'll be able to get the flexibility your business needs in those critical first few years.
5. Only pay VAT on your repayments
One of the best benefits of leasing a van rather than buying one outright is the ability to save money on VAT. With an owned van, you’ll pay VAT on the total purchase amount, but with a leased commercial vehicle, you’ll only pay VAT on the annual contract payment amount. This can add up to significant savings during the term of your contract.
For more information on leasing a van or commercial vehicle, get in touch with the team at Leasewell today.
Tags: leasing a commercial vehicle, van for lease, leasing a van