Is leasing a Van Better than Buying for My Business?

By Libby Foster
Is leasing a Van Better than Buying for My Business?
Why not consider leasing a van before you buy? A van is a big investment for a business, both buying and leasing a van has its benefits, the hardest part is choosing the right one. Many businesses are now deciding to lease a van over buying one outright, to help you decide our experts have put together some of the things you should consider before choosing to buy. 

Leasing a Van 

Leasing a van instead of buying one has multiple benefits, with leasing you can change your van every few years after your leasing agreement ends. This gives you the option of having a new up to date van every few years for a fraction of the price it would cost you to buy. Fixed monthly rentals also make budgeting your business easier. Another major benefit is thanks to your van being for a business,your monthly rental can be off-set against your tax bill. Making it even better value.

By leasing a van with us at MWVC, there will be no worry about MOT for the first three years of the lease as all our vans are brand new and within manufacturer's warranty. We also offer optional extras so you can have the best value for your money and make sure your business van is equipped with everything it needs. We currently have Ford Transit Custom 280 Limited on special offer at only £329.99 per month (ex. VAT)* on finance lease. This van is perfect for those businesses who need a medium size van on a budget. The new model is incredibly stylish and a great vehicle to have amongst your fleet.

Thanks to our vans being newer models, it also means that the running cost is likely to be lower than an older van you would buy second hand. This is due to improved efficiency and better reliability of newer models, also add to this the fact you're likely to be covered by a manufacturer's warranty for the majority, if not the entire length of the contract, you can see why people choose to lease.

If you take a vehicle on Business Contract Hire with us, you don't have to worry about selling it. Alternatively you can speak to a member of our team about funding the vehicle on Finance Lease. This way there could be an opportunity to benefit from some of the vehicle equity at the end of the term. 

When leasing a vehicle with MWVC, you get the benefit from bigger discounts on the vehicles you choose. Discounts can be negotiated between us and the funders, meaning that when you take out a lease with us your overall cost of the vehicle will be lower. A lower overall cost means lower monthly rentals and a lease that is better value for money for your business. Learn more about how leasing payments are calculated by reading our previous article. 

Buying a Van

Buying a van outright for your business can be costly and take a huge chunk out of your budget. If you want to buy a brand-new van it is also most likely to decrease in value immediately, which means when you want to sell it, you're less likely to make a profit. Though buying a second-hand van is cheaper initially, it may cost you more to run in the long run if it is an older model. 

Which is the Best Option for You?

If you are wanting to have a van for your business but don’t want to pay a huge outright payment, then leasing may be the option for you. Having fixed monthly rentals can help if you like to budget and keep on track of your finances. The rental is set once a lease agreement has been established and is valid for the duration of your term. You won't need to be worried that your payments may grow due to increased living expenses or fluctuating interest rates. Your lease rental will continue to be the same as when you first accepted the terms.

Before committing to buying or leasing a van why not give one of our experts a call? There are many advantages to leasing a van, for example large discounts, newer technology, lower running costs, manufacturer's warranty and changing to a newer vehicle is easier and more frequent than if you decide to buy. Learn more about the benefits of leasing a van by reading our previous article.

Here at MWVC, we have plenty of deals on offer to suit everyone's needs when it comes to choosing the right vehicle for them. Whether you are looking for a personal deal or a commercial vehicle to lease, our expert sales team can advise you on the best deal for you. Still, wondering if vehicle leasing is the right option for you? Give us a call on 0116 259 9548, and a member of our team will be happy to assist. 

*All pricing is correct at the time of publishing. 

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