Should I get a Used or New Car Finance Deal?
Should I Get a Used or New Car Finance Deal? New car finance vs used car finance – let us take you through […]
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March 12th, 2021
If you’re thinking about leasing a new van, you have probably heard the terms Finance Lease, Contract Hire and Hire Purchase. These are the types of finance agreement that you can choose from when deciding to get a van on finance.
It’s important to think about what you want from your finance agreement, as there are some key differences between the options.
When you’re looking at van lease prices you will often see a monthly figure – this will be based on a standard deposit and lease length. For example: 3+35 denotes that the figure would be based on 3x the monthly quoted rental as an Initial Payment, followed by 35 of the quoted monthly payments. By understanding how the prices you see are worked out, you will be able to decide what option best suits you.
Hire Purchase:
Finance Lease:
Contract Hire:
Whichever financing option you choose, there are a whole host of benefits to your business.
Opting to lease rather than buy means you save money on upfront costs, while also benefitting from the range of cheap van lease deals available to you as a business owner.
New van lease deals allow you to spread the cost of your new vehicle across your agreed lease term, allowing you to plan in the fixed monthly costs to your business outgoings.
Because of the number of cheap van lease deals available to you, you will likely be able to afford a higher quality and spec of vehicle than you would, had you bought outright. This can only benefit your business – by making sure you look professional on the road, and giving a greater level of driver comfort.
Another benefit of new van lease deals, is that new vehicles are subject to manufacturer warranty – giving you peace of mind in the reliability of your vehicle, and that you won’t incur any unexpected costs should it develop issues.
If you have any further questions about Finance please visit our dedicated page, or call us on 0117 962 5314 to speak to one of our van finance specialists
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