Published on Tuesday 12 July 2016 in Van News
Whether you're just starting your own business or an experienced tradesman, choosing to lease your van can save you thousands of pounds. Not only will you avoid having to pay a large sum of money upfront for your vehicle, you'll free up funds which you can put back into your business. How would you spend this money to help grow your company?
Find out how Vanarama customers spent the money they saved from leasing
Vanarama asked a selected group of customers how they've benefited from leasing instead of buying and what they've done with the additional money they've saved. Here are the top ten responses:
- 1. Moved to larger premises
- 2. Improved office and workshop facilities
- 3. Leased more vehicles
- 4. Employed new members of staff
- 5. Bought new tools and equipment
- 6. Bought additional materials and stock
- 7. Spent money on marketing
- 8. Spent money on vehicle signwriting
- 9. Eased cash flow worries
- 10. Saved for the future
Free up your cash without outlaying huge sums of money on a new van
Leasing your van reduces the possibility of having to take out a loan to purchase a vehicle. To buy a brand new Ford Transit Custom 2.2 TDCi 270 panel van would cost in excess of £18,000. Opting to lease with fixed monthly costs, allows you to maximise your cash flow. You can then choose to use the money you've saved to develop your business and focus on ways to create a financial return with your investments. These factors have led to Vanarama customers reinvesting money on vehicle signwriting and marketing to promote their businesses.
With the money Lee Wright saved…
Owner of Wall to Wall Services, Lee Wright generated an extra £10,000 of new business from having his van signwritten. This was paid for with the money he saved from leasing his van. "I've now got a great big advert for my business. I was doing a job the other week and by the end of it, three of my customer's neighbours had seen my van and asked me to quote. The result? An extra £10,000 plus worth of business!" said a delighted Lee.
What are the advantages of leasing your van?
- The monthly payments are fixed, so you know exactly how much you have to pay, making budgeting easier for you
- You can focus on your business instead of vehicle maintenance, as with leasing agreements you're able to include servicing and maintenance for your van
- You don't need to worry about selling your van or it losing money due to depreciation with a Contract Hire lease
- You can get another brand-new van once your existing contract comes to an end
- You'll receive a warranty with your new vehicle
- Road tax is included for the duration of your lease with Business Contract Hire and for the first 12 months with a Finance Lease
- Frees up more capital for you to reinvest in your business
Leasing comes highly recommended
From the Vanarama customers surveyed on leasing, 85% said they would recommend it to family and friends. Three reasons were regularly talked about as being the major factors behind this - the financial benefits, the desirability of having a new van and reliability it provides.
Customer Christopher Hatt of CH Security said: "I was very impressed with the knowledge of the different types of finance available and how it was explained to me. The constant communication throughout the procedure from ordering to delivery was outstanding. I'll be back and I've saved lots of money in the process!"
Are you thinking of getting a new van or is there a question you have about leasing? You can call us on 01442 835 769 and we'll be happy to help you.