Why Hire A Van Instead Of Buying

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Advantages Of Hiring A Van

Depending on your finances and what your budget is, you might be unsure if you should buy or lease a van, leasing might be the way to go. If you buy a van you’ll have to either pay upfront or with a van loan. If you plan on leasing a van, you will be responsible to make your monthly payments to continue to use the van, not own it. Buying and leasing a van both have advantages and disadvantages. Here are some tips that can be helpful for you to make the best decision for you.

There are a lot of good advantages you would have for using a van rental, here are a couple for you to think about. Depending on where you are leasing your van through, some packages might come with extras such as breakdown coverage in case something happens you’re taken care of. Fixed monthly payments are great for budgeting and can make budgeting easier, especially for businesses. If you’re leasing a van, the VAT on the lease payments could be tax deductible. The maintenance might be included in the lease agreement, that will make it to where you’re not responsible for maintenance issues. Leasing a van might also give you the perk of being able to drive a newer van that is likely to have lower running costs than an older model. 

Local Van Rental Companies

Take your time and look around at the different local van rental companies and compare the prices and what the lease agreements are. By taking your time to look around, you will be able to find what best fits your needs. Pay attention to reviews from other customers so you can compare experiences and if the companies stayed true on their end of the lease agreement.

Disadvantages Of A Van Lease

Of course there are some disadvantages of a van lease, and it’s important to do your research so you’re aware of everything. You are required to have good credit history for your leasing agreement. Since you don’t own the van, you won’t be able to sell it on to make some of your money back. When your lease is over you will have to return the van, unless you want to ask for another lease agreement. Something to put into consideration is that accidents happen and if there are damages to the van at the end of the lease, you will more than likely end up having to pay extra charges. This may be what steers you away from wanting to lease a van if you drive a lot, you are limited to how many miles you can drive the van each year and if you go over that limit you might have to pay extra. 

Is It Better To Buy Or Lease A Van?

When it comes to buying a van or leasing a van, look at both sides carefully. Depending on how much you want to use the van, lease agreements do come with restrictions, mileage limits, and you aren’t allowed to do any van modifications. Buying a van will give you the freedom for you to drive anywhere you want and as much as you want without any restrictions or additional costs, and tends to be cheaper in the long run to buy outright. If you want to buy a van but can’t afford to pay upfront, look into van finance. Van finance could be with hire purchase, personal contract purchase, or a personal loan. If you end up leasing a van, you can have success with budgeting because you will have to be able to maintain those monthly payments on time. 

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