New Van Leasing Explained

This section will tell you everything you need to know about leasing a new commercial vehicle.

What is van leasing and how does it work?

New van leasing is a type of long-term rental where the customer will pay a fixed monthly payment to use a vehicle for an agreed period of time. This method has proved to be very popular amongst sole traders and limited companies because it is a way of driving a brand-new van at a fraction of the cost of the vehicle. As well as paying less, there are a number of additional benefits to leasing a new van.

What are the benefits of new van leasing?

1.Customers can benefit from driving a new van every few years.

2.As the vehicle is brand new, the manufacturer will provide a full warranty. This is applicable whether you lease a van from a broker or a main dealer.

3.Avoid the risk of depreciation or concerns around disposing of the vehicle.

4.With some van leasing agreements, such as contract hire, the Road Fund Licence is included in the terms of the contract so you can save money every year.

5.To avoid any surprise costs, you are able to add a vehicle maintenance package which will take care of your annual servicing and tyres. This is only available on contract hire leasing.

6.The initial rental is often low, so you don’t need to outlay any large costs at the start of your agreement.

7.The monthly payment is fixed for the duration of the contract so you can budget accordingly.

8.Breakdown cover is included in contract hire leasing which is another cost-saving.

9.There is a lot of flexibility when you lease a new van and you are able to choose your deposit, annual mileage, and the term in which you want to keep the vehicle.

What to consider with new van leasing?

As fantastic as van leasing sounds, it is worth noting some of the things that you need to be aware of before making your final decision.

1.If you choose to terminate your contract early, then you might receive an early termination charge which is usually rather costly.

2.When you take a vehicle on a business contract hire agreement you will never own the vehicle. Once the term of the contract comes to an end, the vehicle must be handed back to the supplier.

3.Be wise when you select your annual mileage allowance because if you run over it, you will be faced with a bill which can soon add up.

4.Although your new van is going to be a working vehicle, you must take good care for it because any damage that is not deemed as ‘fair wear and tear’ could be charged.

What is the most popular business van leasing?

Although this is a great question to ask, the answer should not impact your decision-making process. Instead, we know that every company is different and depending on your own circumstances will depend on which finance package is suitable.

As well as the standard Contract Hire and Finance Lease agreements, Premier Commercial Vehicles provides Hire Purchase and Rent 2 Buy options.

As for the most popular vehicles, it will come as no surprise that we receive the highest amount of calls for new Ford Transit Custom van leasing in Bridgend and whilst this vehicle is a fantastic machine, there are a wide range of other Ford van leasing deals that we provide.

https://www.premiercommercialvehicles.co.uk
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