Buy Or Lease?

Discussion in 'Chit Chat & Introductions' started by rcproperty, Oct 24, 2012.

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  1. rcproperty

    rcproperty Hero
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    If I pick this new contract up, I'm thinking of getting a 2nd van. What do you think would be better buy a van or get a lease van?

    I know the company concept O2 uses lease vans.
     
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  2. Smurf

    Smurf Banned
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    Thought Concept2o was a franchise?
     
  3. Smurf

    Smurf Banned
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  4. Smurf

    Smurf Banned
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    Regarding buy or lease a new van maybe would be best if you speak with your accountant for advice.
     
  5. rcproperty

    rcproperty Hero
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    Yes they are but they give you the van and they are leased.
     
  6. rcproperty

    rcproperty Hero
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    Don't have accountant as we do it all ourselves.
     
  7. Extremecleansussex

    Extremecleansussex Active Member
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    If you lease something then you can offset your payments against profits as you go along whereas if you buy it then you pay a large amount upfront but can only offset a portion each year until you have written the value of the asset off.

    Having said that you can now offset the first £12,500 (I think) of a vehicles cost in any one year so if the van costs less than that (excluding VAT) then you're probably better off buying it outright if you've got the cash.
     
  8. Vince Green

    Vince Green Active Member
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    I can tell you what I say having leased vehicles in the past. Don't touch it with a bargepole. Buy new, its cheaper and at the end of the deal its yours. I have a five year old van, its paid for and its all mine. Its good for at least another five years.. I don't have to hand it back to some leasing company so they can sell it and make a profit. And they do make a profit out of you otherwise why would they do it?
     
  9. CNS-southwest

    CNS-southwest Grand Master
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    Definitely buy it I you have the funds, leasing is like renting a property, you pay over the odds and get nothing at the end.

    Also are you allowed to sign write leased vehicles??
     
  10. Smurf

    Smurf Banned
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    Or mod them e.g drill holes through the floor to etc for wfp kit?

    concept20 obviously have been given permission to do so in their franchise package but would need to confirm with whatever leasing company you go with to see if you can mod a leased van.
     
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