Are you thinking about leasing a van but need a little bit of guidance? In this article we will discuss the pros and cons of leasing a van to help you make a decision.
What is the difference between buying and leasing a van?
The difference between buying and leasing is pretty simple. If you buy a van, it’s yours. If you lease, you pay monthly and, depending on the finance model, you may have to return the vehicle at the end of the contract.
There are both advantages and disadvantages when it comes to leasing a van, however the good definitely outweighs the bad.
Let’s take a look at the advantages first.
Fixed Monthly Cost
Before you agree to the contract, you will agree to a fixed monthly fee. This means you will always know where you are up to and will be able to manage your finances better.
Brand New Vehicles
One of the best things about leasing is that you get to drive the latest model every few years, just like upgrading your mobile phone!
Less Maintenance & Admin
Leasing a vehicle comes with great maintenance deals that you wouldn’t be eligible for should you buy the vehicle outright. Most leasing companies will include your servicing or MOT costs within the package, saving you a few hundred quid along the way.
Now let’s take a look at the disadvantages of leasing a vehicle.
Mileage
When leasing a vehicle, you may need to forecast how many miles you are likely to drive over the years, and going over your mileage comes at a cost.
Damage
If you damage a leased vehicle, you will need to pay to get it fixed prior to returning it. Failure to do so will result in paying the leasing company premiums, which could end up costing you more.
First Step Vehicle Solutions is one of the biggest commercial contract hire van dealers in the UK, with two indoor showrooms based in Greater Manchester. Take your first step today and contact them for an unbeatable van leasing deal.
