What Is Van Leasing & How Does It Work?
Owning a van is an essential part of everyday life for many businesses. Whether you have a pickup for the weekend or run a fleet of vans for your business, there are plenty of cheap van finance deals available. And with finance rates at an all-time low, it’s a great time to buy a van on finance. There are many van finance options available, and it’s a minefield for you to know what is best. As van finance experts, our sales team is here to guide you through the buying process, and to answer the question, what is van leasing?
New to the idea of leasing a van? Or simply want to learn more about the process? This blog has you covered.
What Is Van Leasing?
Put simply, when leasing a van you pay fixed monthly payments and typically return the vehicle at the end of the term agreed, or purchase it outright. There are a number of leasing finance options available to suit your individual or company needs. At Van Sales UK, whether it’s new van leasing deals or you want a cash purchase, we have you covered. We deliver vans direct to your door thanks to our simple order process.
Why Lease A Van
There are many reasons why leasing a van is a good idea. First and foremost you aren’t committing yourself by leasing it for a set period of time. When taking a lease agreement out on a van, the customer will have fixed costs over an agreed leasing period, making the finances more manageable. As well as this, there may be flexibility to upgrade early, as well as lower maintenance and repair costs.
Van Finance Options
Though there are many van finance options available at Van Sales UK, the popular leasing types are:
Finance Lease
Finance Leases are a flexible option with no mileage limits or damage recharges. This asset is shown on your company balance sheet and is a VAT-beneficial option. You can pay the entire van cost over the agreed lease period, plus interest charges., or you can pay lower monthly rentals during the lease period with the addition of a final balloon payment.
Contract Hire
A simple way to fund vans, contracts range from 24 to 60 months and are tailored to your personal requirements. You have no risk of residual values at the end as you hand the van back, with optional maintenance and recovery included in the monthly rental. This eliminates most of the stress and financial risks of van ownership.
Hire Purchase
A great finance option for ownership, available for both private individuals and businesses, when all payments have been made you will take ownership of the vehicle with this leasing option. Usually, the full cost of the vehicle will be financed. However, part of the cost can be deferred to a balloon payment.
With finance rates at an all-time low, there are plenty of cheap finance deals available, with Finance lease, contract hire, and hire purchase options all advisable. Contact our team to discuss this finance option and take advantage of our cheap van finance deals.
