Rev Up Your Business Success with Van Lease Finance Solutions  - Vanzone
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Rev Up Your Business Success with Van Lease Finance Solutions 

You’ve heard of new and used van leasing, and now it is worth considering. Cashflow must be one of the biggest priorities for any business and as one of the main factors for starting your own company to begin with (alongside the bonus of being your own boss, of course) it is also one of the biggest responsibilities. But if you are just starting out as a sole trader or still feeling the strain of an ever-tightening economy, you may not have a lot to play around with. Suddenly, you find that the outgoing payments are massively demanding – employees need to be paid, bills just keep coming and you need commercial vehicles to keep the business running.  
So, you turn to van finance for your business. Now you have the choice between new or used van leasing. 

used van sales

Funding Options 

There are so many types of finance and funding options out there that it is impossible to find something that won’t suit your needs: hire purchase, contract hire, etc, and it’s not always completely dependent on your credit score either. It is easier than ever to lease a van no matter what your circumstances with monthly payments set to what you can afford, options with balloon payments, applying for a business loan or finding finance companies that let you buy a van towards the end of your contract. It all varies on what you need your van to do, and how you want to pay for its use. 

E-Van Finance 

Before we dive into whether a new or used van lease would work better for you, it is important to note that you can stretch your savings even further by electing to have an electric van on finance. Apprehension is normal for a business when considering leasing an electric van but put those fears aside. The cost of diesel and petrol is more expensive than the cost of charging an electric van, and you can avoid the nasty hidden fees that come with an internal combustion engine, like the clean air zones and ULEZ charges. Even better, the second-hand electric van market has grown substantially, with an 81.8% reported rise in August 2023. For a complete breakdown of the recent growth on the second-hand electric vehicle market, look at the SMMT website.  

New or Used Business Van 

Back to the fun stuff. Leasing a used van is a great option for lower monthly payments and you don’t need to worry quite so much about the depreciation. However, the cost of these bargains is that they have been used; the vehicle will have its own history. Because it’s older, some parts may be more difficult to find, breakdowns will be both more expensive and more likely. Even if you ignore the 2035 petrol and diesel ban coming into place soon (seriously, we cannot stress enough how beneficial an electric van on finance can be!) there are still things that a newer van can offer that a second-hand vehicle just cannot. There are the newer models, all decked out with the latest driving features and technologies, all that and a manufacturer’s guarantee! Plus, the vans themselves can be more specified to your needs, fitted with the equipment that your business requires to run efficiently and successfully. In fact, leasing a new van for business works out cheaper in the long run, meaning that you can continue your work, no matter what it is, at a much lower cost and for a longer time too. And finally, if you still need some convincing that leasing a new van over used is ideal, it is completely and utterly 100% tax deductible. 

The Yays and the Nays 

As with everything, there are pros and cons to leasing a van, and the below table is a very quick list – remember, this is not comprehensive, and each leasing solution will have its own terms and conditions: 

BenefitsDisadvantages
Latest models, tech and driving features The van is not yours 
Your choice to keep or return the van Higher interest rates 
Flexible payment options Early exit fees can be high 
Bad credit will not necessarily get in the way No modifications to be made to the vehicle (unless specified) 
Monthly costs are much easier to manage Repossession if payments are not made 
100% tax deductible Rejected applications will affect your credit score 
Chance to improve your credit score and save for the next van Damage not included in the ‘fair wear and tear’ guide will need to be paid 

Lease Financing Options

Vanzone - Finance Options

There are a few separate ways to finance your van for business. For a more in-depth look into each option, read our article on van leasing, but for the moment, let us look at the four most popular: 

  1. Hire Purchase 
  1. Finance Lease 
  1. Contract Hire 
  1. Lease Purchase 

Each one has their own benefits and disadvantages, so be sure to do a thorough read of them all to see which option would work best for you, particularly if you have a rocky credit history. As we said earlier, it is not all dependent on your credit score, but be sure that the monthly payments are a good fit for your circumstances and read the fine print. 

Ready and rearing to go? Feel free to give our wonderful sales team a call on 02922 678 010! They are there to make your lift easier and guide you through the process. 

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