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Should you buy or lease a van for your business?

2 August 2023

Buying vs Leasing a Van

When it comes to expanding your business or simply adding a reliable vehicle to your fleet, the decision to buy or lease a van can be a tough one. You want to make the best choice that suits your needs, budget, and long-term goals.

Thankfully, you’re in the right place. When it comes to vans, we know our stuff – from hires to outright sales, we’ve got a host of experience that can help you make the right choice.

In this blog, we’ll delve into the differences between van leasing and purchasing, weigh the advantages and disadvantages of each option and address common concerns.

What’s the difference between leasing and purchasing a van?

Van leasing is a financing option that allows you to use a van for an agreed-upon period of time while making regular payments to the leasing company. When you purchase a van you can either pay up front or use a financing plan that lets you spread the cost. Unlike purchasing, where you own the vehicle outright, leasing provides you with the flexibility to use the van without the burdens of ownership.

What are the pros and cons of van leasing?

The advantages of leasing a van

The disadvantages of leasing a van

What are the pros and cons of buying a van?

The advantages of purchasing a van

The disadvantages of purchasing a van

Can you lease a van with bad credit?

Leasing a van with bad credit can be challenging, but it’s not impossible. Some leasing companies offer options specifically tailored for people or businesses with less-than-perfect credit.

Additionally, it is possible there will be higher interest rates or additional security deposits. By working closely with a leasing professional, you can explore alternative solutions and find a leasing arrangement that suits your needs and financial situation. If you’re looking for a van, we have a full range of leasing options for all budgets.

How much does van leasing cost?

The cost of van leasing varies based on several factors, including the type of van, lease term and the mileage allowance. Typically, leasing costs are lower than monthly loan payments for a purchased van. Monthly lease payments are calculated based on the van’s depreciation over the lease term and any additional fees or charges specified in the agreement. Before you make any decisions, it’s important to get a quote. Get in touch today and our team can help get you started.

Who can lease a van?

Whether you’re a small business owner, self employed, or a company with a fleet of vehicles, van leasing is an option. In the UK, the requirements for leasing a van can vary depending on the leasing company. However there are a few common conditions that you can keep in mind:

What maintenance costs are included with van leasing?

One of the benefits of long-term van leasing is that it can include maintenance costs within the lease agreement. While each leasing company may have different terms, many agreements cover routine maintenance, such as oil changes, tire rotations, and general repairs. This helps you avoid unexpected expenses and simplifies your budgeting process.

Vans from First Step Vehicle Solutions

At First Step Vehicle Solutions, we offer a range of leasing options that can be tailored to specific needs, making our services accessible for all businesses. Regardless of your industry or business size, van leasing can provide the flexibility and convenience you require without the upfront costs associated with purchasing.

Want to buy a vehicle instead? Take a look at our full selection of used vans. They’ve gone through rigorous testing and are ready to take you and your business on the road. If you need some help, give our team of experts a call and they can talk you through your options.

Did you know we also offer 12 month van leasing?

First Step UK Limited is authorised and regulated by the Financial Conduct Authority, our FCA Firm Reference Number is 654527. First Step UK is a credit broker not a lender. Vehicles shown are for illustration purposes only. All offers are subject to change at any time and are subject to finance approval and vehicle availability. First Step UK Limited registered address is 70 Market Street, Tottington, Bury, BL8 3LJ Registered in England.

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