I am considering leasing a medium sized van for my grounds maintenance company but we do about 25000miles/yr. What implications does this have? Or would I be better to buy the vehicle outright than leasing? Steve
Our expert Gary answered...
Hi Steve, thanks for your question. Your mileage should certainly be taken into account when you get a quote, but the good news if you choose a Finance Lease is that there aren’t any strict mileage limits like there are for Contract Hire. When you speak to a member of our team, they will ask questions to understand your requirements and will give you a quote based on your approximate expected mileage to make sure your payments are realistic. The Optional Final Payment at the end of the Van Lease is based on a residual value of the vehicle determined by the finance company. The residual value is calculated using the contract term and approximate mileage, so it’s important for this to be accurate. To answer your second question, we would expect the total repayments on a lease agreement to be significantly more competitive than purchasing outright. If you take a Van Lease through us, you will benefit from both the dealer discount and the substantial manufacturer support we negotiate directly with the manufacturers. This combined support is likely to be more than the dealer discount alone, which is what you would negotiate when buying outright. If you’d like to find out more about the sort of payment plan you might be looking at, feel free to give our team a call on 01442 820554. Thanks, Andy.