Vans are important investments. For some businesses, they are essential. Plumbers, gardeners, groundskeepers, builders and so many other professions rely on brilliant vans to do their work. Like cars, there is plenty of variety when it comes to vans.
There are Crew Vans, Chassis cabs, Panel Vans and more. Each van has different features and fulfils a variety of purposes. The van you choose depends on what your business wants to use the vans for.
Types of vans
There isn’t one type of van in the same way that there isn’t one type of car. People have different uses for vans and therefore, that requires different designs. Here is a list of the different sorts of vans you could get for your business.
Car derived van – this is a van in which its design has derived from that of a car, for example, a Ford Fiesta
Box Van – this van comes with a cuboid loading area
Double-cab Van – this van is designed for those with large crews, it has two rows of seats available
Single-cab Van – it has a single row of seats, usually for three passengers
Crew Van – this van is designed to hold more crew members. This requires it to have an extra row of seats available
Chassis Cab – this van is the most basic of vans. This comes with a cab and is customisable into a box van, tipper or dropside
Luton Van – a box-style van with the load space extending over the cab for additional space
Panel Van – this is the van we think of when someone says van. It is a van with a rigid, non-articulated body, which ranges in sizes and shapes. It is the popular type of van on the roads.
The choice of van you make depends on what you need it for. Panel vans can be used for most tasks because of their shape. Luton vans are great as removal vans because of all the load space available. Car-derived vans are small and agile, offering more load space than would be available in a car, but not too large to feel like a different breed.
Once you have chosen
When you have decided on the van you want, you have options concerning how to drive away with it. You can buy it or you can lease it. Both are viable choices for business, but one option will be more suitable than the other depending on your business’ circumstances.
Buying your van
As a business, you can either buy your van outright with a lump sum or you can finance it through monthly payments. Both are adequate routes to taking ownership of the vans. Buying outright is obviously the quickest and most hassle-free way to go, however, there is the obvious downfall of not having the necessary funds to spare.
With car finance, you can purchase a car without the need to hand the money ready upfront. Instead, you can place a deposit and pay a series of monthly payments for an agreed period of time. Depending on which finance option you choose, you have options when the agreement comes to an end.
With a Hire Purchase agreement for business, you can purchase a van by simply paying a deposit and the monthly payments. There is no additional payment at the end. You become full legal owners of the van.
With a Business Contract Purchase, you have more flexibility. It works very similarly to a Hire Purchase agreement, except at the end you have two choices. You can pay off a final balloon payment and keep the van or you can hand the van back. This is the most popular option because it gives businesses the flexibility they need in the long run.
Leasing your van
There is an alternative to buying your vans and that is to lease them. Leasing allows your business to have access to vans without needing to take ownership. Think of it as a long rental of a van.
There are similarities with car finance in that you pay a deposit, followed by a series of monthly payments. However, at no point do you have the chance to keep the van. When the Contract Hire lease agreement comes to an end, the van must be returned.
This can be the right choice for businesses because it takes away the burden for you to dispose of the vans when they grow old and depreciate too far. However, Business Contract Purchase offers the same chance to return the van, but with that flexibility to buy the van outright through the balloon payment if you so desire.
Choices to be made
It is your business and you know what you need. You know the type of van you require and you know what you can afford. The rest is down to your choices. You have four choices from in terms of how you acquire your vans.
If you know the type of van you want and the budget you have available, enquire with us and our team will find the best van lease deal to suit your needs.