Leasing

[spruce]

Was keen to hear how my story would play out! ??

Agreed the leasing world is easy to fall into the trap of unless you have at least a bit of a plan from the get go and are willing to deal with the agro of it. As mentioned above the likes of Vanarama aren’t even worth dealing with, their advertised prices are nothing like the quote you’ll ever be given.

Getting the van on a 1 + 35 lease agreement worked perfectly for me for startup, we then factor vehicle replacement in the same way we would depreciation (I’ve added another vehicle since then) into our gross profit calculation so that when that vehicle goes back the business is better positioned finically to consider alternative options in the 2/3/4 years you’ve spent earning money from it. Also being VAT registered helps in this circumstance but then will depend on how much of your work is residential vs commercial etc.

Ultimately it always comes down to which manufacturers have excess vehicle stock in the docks / unsold and in storage at the time you’re looking, so don’t ever expect to be picky about the spec or make / model if you want a deal, but bearing in mind the amount of platform sharing that goes in in vans these days there are really only a handful of different floorplans across every van, it’s just the badge and grille that changes by manufacturer. The issue currently is there is very little unsold / storage vehicle stock since 2020, hence the increase in prices. I once leased a brand new (overstocked) Mercedes E class coupe for £200 a month. That deal would probably be £600 these days.

To add to my story we’re about 10 months away from vehicle #1 being returned, considering current prices I’ll be looking at either refinancing and keeping it another couple of years, or I’d be open to a lease purchase now agreement as the business is in a much more established position now

When I was in the motor trade, these were the questions in our armoury we would ask someone who would be hesitant in taking on another lease. My comments weren't aimed directly at you; I was basically using you as a live example of how a salesman could sow seeds of doubt into his customer's mind regarding not leasing the next vehicle. Sorry, but I'm glad you took my comments in good humour.

Personally, I was not against leasing, but it wasn't for everyone. Certainly, builders wouldn't lease a van, and I certainly wouldn't lease my window cleaning van. I have holes through the chassis to mount my tank, and I have a large hole for the exhaust of my diesel heater. I also have two holes for the outside hose ports, as well as additional holes with nutserts to secure my pole racks to the sides of the van. I also have a side mounted 230v power socket, so I can quickly plug my van in at night.

I wouldn't be averse to leasing a car for the wife, for example. Where would I find £39,990 pounds for a 22 plate Mini? I may have to go down the leasing route as I can't see the wife being able to drive a manual car again.

Leasing is very much a personal decision and one should weigh up all the facts before entering into a contract. What happens if I get injured and can't work?

My wife broke her hip 8 weeks ago in a narrow boat accident. If it was me, I don't know how long it would be before I recovered enough to window clean, or if I could ever go back to it. She is still slowly getting around on crutches and in a lot of pain. To get out of a lease contract is very costly, especially if you haven't had the contract long.

 

[matt1458]

When I was in the motor trade, these were the questions in our armoury we would ask someone who would be hesitant in taking on another lease. My comments weren't aimed directly at you; I was basically using you as a live example of how a salesman could sow seeds of doubt into his customer's mind regarding not leasing the next vehicle. Sorry, but I'm glad you took my comments in good humour.

Personally, I was not against leasing, but it wasn't for everyone. Certainly, builders wouldn't lease a van, and I certainly wouldn't lease my window cleaning van. I have holes through the chassis to mount my tank, and I have a large hole for the exhaust of my diesel heater. I also have two holes for the outside hose ports, as well as additional holes with nutserts to secure my pole racks to the sides of the van. I also have a side mounted 230v power socket, so I can quickly plug my van in at night.

I wouldn't be averse to leasing a car for the wife, for example. Where would I find £39,990 pounds for a 22 plate Mini? I may have to go down the leasing route as I can't see the wife being able to drive a manual car again.

Leasing is very much a personal decision and one should weigh up all the facts before entering into a contract. What happens if I get injured and can't work?

My wife broke her hip 8 weeks ago in a narrow boat accident. If it was me, I don't know how long it would be before I recovered enough to window clean, or if I could ever go back to it. She is still slowly getting around on crutches and in a lot of pain. To get out of a lease contract is very costly, especially if you haven't had the contract long.

100% agree on all of the above, and didn’t take it personally at all all in jest! Always a balance of risk and very easy to get tangled up in leasing. I’m glad I’d done it personally prior so I had a rough idea of the game in advance. It’s all too easy to get blinded by the shiny of new vehicles if you haven’t factored in the £ up front for your actual business. Tbh I wonder how much a couple of the lease brokers in particular play up to that. (In my experience a couple of them really are a sales breed like no other)

All the very best to your wife that sounds bloody awful. Fingers crossed for a swift recovery