A van lease enables you to run a company vehicle for less. Leasing is not to be confused with hire purchase or hiring a van using a hire contract. It is similar to a hire contract, but not exactly the same.
Why a Van Lease Makes Sense
There are several reasons why a van lease is a good idea rather than buying your own vehicle. Firstly, it allows you to spread the cost of running a vehicle across several years. If you were to buy vehicle out right you would have to invest a significant amount of capital to do so. This capital could be better used in other areas of your business. Even if you were to take out a loan to buy your van you would still need to put down a significant deposit and pay the VAT up front. Whilst it is true that a deposit is also needed if you lease a vehicle, the size of that deposit is significantly smaller.
When you lease a van, there are some significant tax advantages. It is for this reason that many accountants recommend leasing rather than buying or hiring company vehicles. To get these tax advantages you need to ensure that you sign the correct type of lease contract.
Leasing vans is not something only large businesses can do. A good leasing broker will be just as happy to lease one vehicle to a sole trader as they would to lease 22 to a large company.
Shop Around for Your Van Lease
If you are thinking of leasing a van, take the time to do some research and shop around, by doing so you can save yourself a significant sum of money. When you consider that, some lease contracts last for 60 months paying just £10 a month less will save you £600.
The best place to find a good van lease deal is online. All of the major companies have their own websites. On these websites, you can quickly compare deals and read up about each company’s terms and conditions. Take your time and double check what would happen if you had to end your lease early or wanted to lease a different vehicle.
To find the best van lease deal for your company visit the Van Warehouse website.
