Leasing versus Renting Vans in the UK
Is it best to hire or lease a van?
The decision to rent or lease a van will often depend on few factors and circumstances. Read on to understand what is is the best option when it comes to leasing a van or renting one.
Of course, buying a van is different from either, but leasing is also different from renting.
It is important to understand what is the difference between leasing a van and renting one.
Why Not Just Buy a Van?
Buying a van outright might appear the simplest option, but if you do you’ll then have to pay for everything connected to its upkeep.
That means paying for road tax and insurance, and keeping it roadworthy.
If it gets damaged while you're working, you’ll have to arrange repairs.
And, all the while, it’s losing value; depreciation is a big factor when it comes to owning a vehicle.
However, there are alternatives.
Should You Rent a Van Instead?
Renting a van can seem a flexible option that avoids the pitfalls of ownership.
Van hire can be for a single day, or for longer-term periods.
It involves flexible contracts, but these can come at a cost.
It may be a useful option for short-term requirements, but what sort of an impression on your finances would renting make over an extended period of time?
You do give up control of things like insurance, repairs and servicing.
Under a fixed rental price, you will have everything covered except for fuel.
But is this the best solution, as a realistic alternative to ownership?
If driving a van is central to your work, then renting is neither the most economic, nor practical, option.
Is Van Leasing a Better Solution?
For many working people, a van is an essential item. It is fundamental to how they operate.
It is something you rely on, and you may need it at short notice or for working extended hours.
In short, it is a vital resource.
Leasing a van combines the freedom of van hire (rental) with the reassurance of a cost-effective, long-term contract.
And a van leasing deal can typically include a fixed maintenance and breakdown package.
When you lease your van, you don’t own it; you just simply give it back at the end of an agreed term and drive away a replacement.
However, for all the time you’re using your leased van, you can have full confidence you have the support you need.
It’s perfect for budgeting, and it’s a simple but effective solution.
There are also tax benefits to leasing a van.
These are on top of the fact that, by choosing to lease, you won’t have the capital outlay of buying or be paying higher rental rates.
For more details about our van leasing options, call us on 0330 056 3335, email contact@letstalkfleet.co.uk and we’ll be in touch as soon as possible.