Buying, hiring or leasing: which is the best van option for you?

If you’ve started up your own business and you’ve viewed a van that would fit your needs perfectly, it’s worth bearing in mind that there are various ways you can pay for it. Instead of buying it outright and using a lump sum that could be better spent elsewhere, a van hire contract or short-term loan scheme tailored to you may make the approach more affordable. While some firms boast their own squad of vans, other businesses rent out their vehicles.

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Choosing the best option for your needs

A positive aspect on the purchasing front is that there are no mileage limits imposed on the vans, as is customary with most hire contracts. However, the value of the van will depreciate as the years go by. While purchasing a van will ultimately lessen the tax bill, it is certainly not an investment.

Leasing may be a more attractive model as it doesn’t require a lump sum, and subsequent payments are generally low. It’s easy for business owners to upgrade or change vans every few years. As an added bonus, there are tax incentives. When it comes to the end of the period, you just hand back the van. Of course, there are negatives; for example, repairs may not be covered by the provider and as a business owner, you won’t own the vehicle at the end of the period.

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Hiring a van ensures the professionals are on hand

Hiring a van from a provider such as https://www.fleetwayrentals.co.uk/ will ensure a professional service. At van hire Gloucester, there is no need to make a lengthy commitment, and you can make pick-ups and drop-offs whenever it’s convenient. It’s certainly a flexible option for firms requiring variable resources.

According to The Federation Of Small Businesses, statistics show that there were a record-setting 5.7 million private sector businesses at the beginning of 2017, and that small businesses, which would be the most likely to hire vans, accounted for 99.3% of private sector businesses in January 2017; 99.9% were considered small or medium-sized.

It’s clear that there are advantages and disadvantages to each approach. When it comes to opting for the best fit for your needs, it’s important to ask yourself if you want control over your vehicle.

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