Buying or Leasing a Van? Which is Best for me?

July 12th, 2020

Buying or Leasing a Van? Which is Best for me?

You’ve got two options if you are a business owner who requires transport – buying or leasing. Here in this guide, hopefully, you’ll figure out which option is best for you.

The difference between buying and leasing

Buying your van means getting a loan or paying for it outright. The benefit of this is that it belongs to you. The alternative is leasing. When leasing a vehicle, you don’t actually own it but instead pay a simple monthly fee, however, as previously mentioned, you can often pay a lump sum at the end of the lease process.

Buying a van

Buying is a good option for a few reasons:

• It’s good value. If you’re negotiating with cash, you could be in a good position to haggle down the price and get a great deal.
• If you’ve already had a van, you can trade it in and save even more on the purchase.
• You’re not restricted to a mileage limit.
• Lastly, if you need to trade, sell or swap, you can do this whenever you want.

Leasing a van

Leasing a van has many advantages, not least the fixed monthly cost:

• It’s best suited to individuals who like the idea of driving a new van every couple of years. At the end of the term, you can just return it and walk away. Alternatively, you can take out another new van on a new agreement.
• It’s a great option for businesses that don’t want to pay out maintenance costs when vans depreciate.
• Most lease packages will include maintenance and breakdown cover, which is easier on the savings. And if your van breaks down on you, the company fixes it and often covers the cost.
• Lease companies frequently offer a choice of a straight lease or a lease purchase. The latter gives you the option to buy the vehicle at the end of the term.

If leasing a van sounds like a good option for you, look no further than Global Vans. We’re not your usual van leasing company. We offer huge savings to our customers by buying our vans to order. To find out more, please contact us today.