The Many Advantages of Choosing Van Leasing Near Me

October 2nd, 2020

The Many Advantages of Choosing Van Leasing Near Me

When you run a business, more often than not you are required to have a van for the work that you carry out or to promote your business. The decision on where to acquire a van can certainly be tricky. For example, you may be asking yourself, what is the easiest and most cost-effective way to have a van or how do I fund a fleet of vans for my business?

As a sole trader, an owner of a small business or a manager of a large fleet of vehicles, it’s likely that you may have considered hiring or perhaps buying vans. But, van leasing has very recently become a highly popular option and this is due to the substantial benefits of it. With this in mind, you may be asking yourself, is leasing my van or commercial vehicle the best option for me? Taking this into consideration we have weighed up the pros and cons of van leasing to help you decide the best way to get yourself a new van.

Van leasing: What is it?

Van leasing also referred to as contract hire, works as an agreement for a set period of time, often within the timeframe of 24-60 months. In turn, you make pre-agreed monthly payments for the van. A deposit is sometimes required at the beginning of the agreement. There are often lots of new and used van deals available that will not require a deposit – a reliable van leasing company will be glad to assist with whatever requirements you have. Leasing a van is somewhat different from actually purchasing the van outright, either with cash or through hire purchase, as you do not own the van.

Another choice is a PCP agreement, in which you need to purchase the van in a balloon payment, hand it back or upgrade it. Lease purchase is in some cases another option of financing so you can essentially own it. However, a business – be it a tradesman or SME – will not always have the capacity to buy a new van in cash, and it usually makes sense to acquire a commercial vehicle through finance.

Van lease

An important factor in choosing to lease a van is that for your company is that you’ll need a new van that will work well for everything you need to do. You can opt for popular brands for the van you will be driving around in too! Not only will this give you a good impression for your company and for your clients, but it will also mean that you’ll save on repairs and other issues that buying an old second-hand van may encounter.

Spreading the overall costs

If you run a smaller business, you may not be able to afford to pay for a brand new van or for any kind of van for that matter. With van leasing, you can expand the costs and only pay rentals for the van in smaller monthly instalments – if this works for you. This will permit you to budget your spending and you will not need to start your new business in even any kind of debt. This is a fairly common route to and your van lease company will no doubt be able to guide you further on this.

Tax considerations

Are you paying large amounts of tax for your small business? You might not realise it but when you lease a company van, you can claim up to 100% of the back when it comes to the monthly payments. Your business will need to be VAT-registered and you will have to only use the van for the business itself. When you are filing your tax return, you can also claim back the cost of the lease rentals as an expense.

Peace of mind

Reliant on the nature of the business that you run, you may find that you rely on your van to keep your business running and any issues will impact profits. However, you will find that with a leased van – there is much less to be concerned about in relation to this. You’re not going to require an MOT if the van is less than three years old and it will not have been used so it will last a lot longer without needing repairs. You need a van that you can rely on and so you should ensure that you lease it so that you can spend your time concerning yourself with other aspects of your business.

Additional tech perks

The final reason why you should lease your company van is to benefit from the usage of new and up to date vans that may be on offer to you. When you lease a van, you can choose from some of the best brands on the market. It’s likely that you will benefit from these vehicle advances and witness first hand how they can improve the way that you conduct your business. Don’t commit to buying a used van that is not going to be useful in a few years time. Stay on top of what’s available to you and lease a van today.

The bottom line

Leasing a company van is not as costly as you may imagine it to be and with this in mind, if you choose to take out a lease you could be benefiting a lot. Be sure that you consider all of the various tax benefits that you will be able to take advantage of if you lease a van as these can actually save you some cash. Leasing a van is also good for your company’s image as your customers will be impressed by your presentable van which showcases your business. Think about how crucial your van is to your business and think about the fact that you may need a van that you can rely on without having to concern yourself about whether it is going to break down.

Global Vans – For Quality Van Leasing Near Me

If you’d like to know a few of the other advantages of van leasing, contact the team here at Global Vans, we’d be delighted to provide you with any further information about leasing a van. We’ll go above and beyond to help you make the right decision for you. Leasing is becoming a growing method of financing vans principally because of its low-cost upfront payments and its beneficial tax treatment.

Traditionally businesses used to either buy or hire to finance their vans however as people have got better educated about what leasing can offer the trend has moved this way. If you are looking for more reassurance – speak to us today. Global vans are a leading van broker who has operated for in excess of 17 years and deliver in excess of 4000 vans each year which gives us significant discounts with manufacturers and competitive rates with funders. To find out more about what we can offer you, please contact us today for further information.