At LeaseVan, we are experienced in bringing our customers the best possible lease and rental deals on a variety of vans. There are many reasons why people choose to lease vans with us - but we take pride in our range of manufacturers, our customer service, and our fantastic range of van leasing deals.
We believe that businesses, no matter the size, should have access to the highest performing vans at the best possible prices. That’s why we offer several different financial plans for van rental.
In the case of lease purchase, there are many advantages for our customers who choose this package. Here is a summary of everything you need to know about lease purchasing a vehicle.
What is lease purchase?
Lease purchase is a financial plan which allows our customers to pay a deposit for their van, then develop a long-term payment plan over an agreed period of time. Once you’ve paid off all the costs, the van automatically becomes your property.
Many people choose lease purchase because it allows for greater room for flexibility. For example, it’s possible to pay small monthly installments and then hand over a balloon payment at the end of the contract. This helps you to purchase your van quicker (allowing you to then sell it on, if need be).
At LeaseVan, lease purchasing works in the following manner. You choose your van and then sign an agreement with one of our consultants. The key idea behind lease purchasing is that you develop a financial repayment plan which suits you. No matter your budget, therefore, we’ll be able to offer a plan catered towards you.
Depending on your financial package, you will then be able to take full ownership of your van. For this reason, lease purchasing is a great way to purchase a van that you might not be able to otherwise afford. By repaying your van back in small installments, rather in one large payment, you can invest in a top of the range vehicle.
What are the advantages of lease purchase?
As you can see, there are many advantages to lease purchasing a van. Here are the key points that you need to know:
- Ease of budgeting: One of the benefits of of lease purchase is that you have financial security. Each month your repayments will remain the same.
- Flexibility: You have the option of making a final balloon repayment. This means that you can purchase the van quicker if you want to.
- Tax exemption: Individuals who purchase lease a van for business purposes are not subject to VAT. For this reason, lease purchasing is potentially more financially sensible than other repayment plans.
- No restrictions: At LeaseVan, we do not have any mileage restrictions for people who drive our purchase leased vans. You have complete autonomy.
Altogether, purchase lease is a great way to purchase a van for a variety of businesses. You get all the benefits of owning your van, but you can choose your own repayment plan, save money, and not suffer from mileage restrictions. It really is that simple.
Are there any disadvantages?
At LeaseVan, we value honesty and transparency at every level of our customer service. That’s why we’re open about the potential downsides about purchase leasing:
- Commitment: As you might have guessed, it’s a big commitment signing up to a contract for any duration of time. Some of our purchase lease contracts can last for several years. This can be difficult to manage if your financial circumstances change or you’re unable to consistently pay back your loan.
- Balloon repayments: Balloon payments can occur if you miss your repayments over a period of time. While we aim to avoid this at all costs, it’s an inevitable outcome for individuals who don’t commit to the financial agreement.
- Contractual agreement: If you are unable to repay your leasing contract, then you will lose ownership of the vehicle. This can be highly unfortunate and we try our best to prevent this from happening.
The LeaseVan service
At LeaseVan, we are the authority in organising tailor-made financial plans for a variety of businesses who require a van. As you can see, there are a variety of points that need consideration before you lease purchase any vehicle. This is a big financial responsibility - which is why we allow our customers to develop their own repayment plan. We understand how important autonomy is for small businesses; that’s why we do everything in our power to make van leasing easy, comprehensive, and transparent.
In addition to this, we always believe in being honest with our customers. There are potential downsides to purchase leasing a vehicle. That’s why we take the time to sit down with our clients and explain everything in detail. The quicker we do this, the quicker you can be driving away with a brand new van on the same day.
There are a variety of vans available on the market. From Fiat, to Citroen, and Mercedes-Benz; it can sometimes seem like the choice is overwhelming. That’s why our dedicated staff are always happy to answer any of your questions. You might not be aware, but different vans are suited to carry out different jobs. Some of the most common considerations include:
- Load volume
- Passenger seats
That’s why we stock a wide range of vans which are available for purchase lease. We offer some of the most competitive purchase lease deals on the market; meaning that our customers will never be beaten on price.
If you have any questions, or would like to learn more about our van leasing options, visit us instore today or call us on: 0344 745 1818
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