Following on from the what small van thread, I'm now thinking about possibly doing some sort of lease deal on a new van. I've always bought secondhand before so I'm having trouble getting my head round the whole 'not owning the van thing'.
I know there are plans where at the end you do own it, and also others where you can pay the final balloon payment to also own it, but how do they work out how much this payment will be at the start of the contract?
If you do have a lease deal on your van, how is it working out for you and would you recommend it?
Many thanks.
I was asking the same noob questions this time last week and now there's a brand new car on the drive. It's scarily easy, and affordable.
I've never looked at vans so I'll let one of the experts explain it. Good luck and enjoy it.
Business van?
Not sure in leasing but from speaking to a customer at a leasing and used van sales company, they are flat out busy. Not much used stock, new in high demand.
Lots of business need to send guys to site in individual vans rather that two per van due to Social Distance and lots of business buying assets with CV bounce back loan. Not sure any of that helps.
I've never looked at these in detail, apart from a colleague buying a new Corsa.
My impression from what he told me was the upfront cost was very attractive, the monthly cost was attractive, and to swap to another vehicle at the end of the term was very attractive.
But if you want to buy the car or not renew, it seemed pretty expensive to get out if you have not saved in advance for the cash payment.
Mate used to hire a car long temn from a major car hire co, when he doesnt want it he sends it back and then re books it for a few more months, currently off work so doesnt need a vehicle so no costs to pay.
Actually the long term car hire really works, a friend here in Spain does it. Worked out the optimum hire length is c 3weeks I think, after that the price spikes. Gets a new car every 3 weeks and just returns it when he doesn't need it. Brilliant for airport parking, just drop it off.
The staff know him well, does the drop off and pick up in 30 mins. Car always smells new too.