Do you Lease or Buy a Van for your Business?
When you run a business, you may well need a van in order to operate. There are lots of businesses that require the use of a van – you might be a landscape gardener, or you might be a removal company for example. When you have to transport equipment around, a van is an essential part of your business.
Something that many new businesses ponder is whether it is better to lease a van or to buy one. There are pros and cons to both, and it is important to weigh these up to help you make the right decision for you – here are some of the things to think about when deciding whether you want to lease or buy a van for your business…
Buying a Van
A van that you have bought is something that will belong to your business and is an asset. Once the van is bought and paid for, it is yours to keep. When you own a van, you do not have to worry about paying anything monthly either.
As long as you choose carefully, this can be a great investment for your business and something that you can keep long term if you look after it.
Another thing that you will benefit from when you buy a van is that you will not have to worry about going over your forecast mileage, which can incur a hefty charge. If you are unsure of what distance you will be covering, it can be better to buy a van as then you will not have to worry about this.
Leasing a Van
If you want to keep a close eye on your cash flow and avoid making a big purchase, then leasing a van is a great option for you. When your business is new, the main thing that you will want is stability and financial security, so leasing gives you that.
There are lots of leasing companies like this van leasing Bristol based company, and many offer new vans – if you want a modern van but do not have the funds available for one, then this is another reason why leasing is a good option.