Is It Better to Buy A Van Or Lease

Is It Better to Buy A Van Or Lease

Is It Better to Buy A Van Or Lease

At Vanarena.com, we know that choosing a new van can be a difficult decision. With a variety of models available and numerous payment options, it can be hard to know what is best for your needs.

With numerous offers and so many options to choose from, purchasing a van can quickly become a daunting task. Whether it be buying or leasing a van, both have their perks. But what option is best for you, and which payment option best suits your business?

Is It Better to Buy A Van Or Lease
Leasing or Renting A Van: What are the Differences?

Buying a van is the most common way of purchasing a vehicle and is the option that most people are used to. Through saving up, moving funds or asking for a loan, you can own your own vehicle. Buying a van outright ensures it is yours until you sell it, regardless of the condition. It is vital to take into account depreciation and other factors such as insurance and maintenance to work out if buying a van truly is the best option for you.

Renting, or leasing a van gives you the option to use a van without ever owning it. Rather than paying a large amount in one payment you will pay a series of monthly fees for use of the van. Contracts can vary over numerous periods of time. Depending on the arrangement, you can either pay the sum for what would be owed to buy the van outright or you can enter another contract. Van renting is preferable to start up companies as it does not involve one large lump sum and can aid cash flow.

Is It Better to Buy A Van Or Lease
What Are The Advantages Of Buying A Van?

Buying a van means that it is yours. Unlike some leasing arrangements, there are no restrictions, no mile limits, and no obligations to have parts maintained. Purchasing means there is no contractual agreement between you and anyone else. It is part of your business, an asset that you can trade, sell on or maintain for as long as needed.

Buying a van allows you to leave with the vehicle that day and gives room for negotiation when purchasing. You can haggle and negotiate knowing that you are purchasing your van with cold, hard cash. There is more room for price negotiations when buying a van than when signing a monthly contract. When purchasing a van, you can also trade in your old vehicle to get a discount, which may not be available under a leasing scheme.
While purchasing a van can be expensive, for many it is the best value for money option.

Is It Better to Buy A Van Or Lease
Should I Be Tempted To Lease A Van?

Vans, like any other vehicle, depreciate in value the second they leave the garage. Leasing is a preferable option for businesses as companies do not need to shell out a large payment but can instead opt to have fixed monthly payments. The means that they do not have to take loans or collect case from everywhere in order to pay the lump sum.

While a one-off purchase can prove to be cost effective over the course of a few years, leasing also has its advantages. The vast majority of contracts have breakdown cover and other services attached to them. This means that you do not need to pay for cover and other services unlike you would if you bought the van outright. If your vehicle breaks down, or if there is a recurring issue, you do not need to pay out to get it fixed. This can prove especially useful in the long term with vans often needing maintenance in the later years.

Perhaps the most appealing thing with leasing is that after a few years you can simply hand the van back in and either sign a new contract or look elsewhere for a van. While some contracts give the option to buy the van outright, you do not need to, meaning that you can walk away, or renew your contract with a newer model.

Is It Better to Buy A Van Or Lease
What Option Is Best For Me?

Only you can decide what the best option is for you when it comes to buying or leasing a van. If you buy the vehicle outright, you have the additional responsibility of maintenance, depreciation, and services and can be an additional burden. However, while this may prove to be an expensive one-off payment, purchasing a van can save you money in the long run.

Furthermore, it is yours to do what you wish with it and could save you substantially in the long run.
Leasing effectively removes the one off payment, and the risk if you own a business. Leasing a van means that it does not count as an asset for your business and can not be used to pay debts. By having a monthly payment, you are ensuring that you can afford the van and are not struggling financially as a result. After a few years, you simply hand the vehicle back to the lender. Leasing a van can have mileage caps that charge you if you exceed the number of miles agreed upon. This can prove to be expensive in the long run, and we strongly urge you to read carefully before signing a lease agreement.

Charlie Mc Cullagh, the managing director of Vanarena.com, said: “At Vanarena.com we supply new vans to businesses throughout the UK at hugely discounted rates. We see a lot of customers who struggle to decide what option is best for them. Our team aim is to provide them the best support and offers to ensure that they leave with the vehicle and the payment option that is right for them.”
Contact Us

If you require van rental or wish to upgrade your fleet of vehicles, we can help. Charlie Mc Cullagh is Managing Director at Vanarena.com, a leading UK van leasing broker supplying new vans to businesses throughout the UK at hugely discounted rates. We provide affordable business van lease deals on Ford, Volkswagen, Citroën, Mercedes & more. Contact us today to find out how we can help you and your business.

So why not fill out an enquiry form now and get our salesmen to give you a call back to discuss new van options.