If your small business relies on having a van, have you considered leasing a van rather than purchasing one? Many small companies make the mistake of assuming that purchasing a vehicle is a more financially viable option. Sure, when you purchase a van, it is yours forever, but is that really a good thing? This means that you are liable for all of the maintenance costs. When you’re using a van frequently, it is subject to wear and tear which can have a serious affect on how often maintenance work is required. Have you considered leasing a van instead?
When leasing a van, you don’t have responsibility for the van – this is a good thing. With diminished responsibility, you can be assured that if your van is subject to wear and tear, it will not be your responsibility once the lease is over. Any maintenance which is required due to wear and tear will not be your responsibility. You can dispose of vans when the leases come to an end and replace the van with a newer, better-looking model. Maintenance and servicing can be pricey things, however, this will not be your problem when you lease a van.
Many business owners find themselves purchasing a van which is by no means their first choice, due to funds. However, when leasing a van, you can choose a brand new vehicle for your business, one which you really want. A newer, better vehicle means that you are viewed as more professional by your customers, improving the credibility of your company. First impressions are important and nothing makes a better first impression than a good company vehicle. An old, worn looking van would not create a good first impression with your customers.
Although leasing a van may sound like the only option, there are benefits to purchasing a van outright. When taking out a lease, you could find yourself liable for some damages, if you haven’t read the small print. Never sign a contract until you are certain that you are happy with what you are signing.
Another disadvantage of leasing a van is the fact that many lease companies have a maximum mileage and you then get charged when you go over that amount. Once again, always read the small print and don’t sign the agreement if the terms do not suit you, or you will find yourself out of pocket.