New van, lease or buy?

[Hellmooth]

Looking to get a new van, still unsure whether to go new or just spend around £5000-£8000 second hand, also if buying is the best bet or leasing, never done anything like that before so don't know the ins and outs, any info would be appreciated!

 

[Hellmooth]

I'll add that I will need to get finance and don't really want to be paying loads a month!

 

[Darkwood]

I know a guy who runs a business in leeds he gets Ex - lease vehicles usually less than 2yrs old and about 20k on the clock but at very good prices, I've had 2 vans off him in as many yrs, my new van is a 14reg 21 000 on clock Kangoo Extra with all the mod cons £6500 + Vat, you would be looking at £12 000 + Vat brand new so for a year old vehicle I consider that a good deal. PM me if your interested.

Finance available various payback terms

 

[Octopus]

The biggest downside to a lease is the fact its based on x years and x miles - so if you do too many miles you will have extras to pay at the end, too few miles and you are paying over the odds for the length of the contract.

And if you need to ditch the van part way through the contract - what are the financial penalties for this?

Buy on a loan is my advice! That way YOU own the asset and if you look after it, once its paid for you can opt to keep it or trade it in.

 

[Darkwood]

Think you misread here murdoch ... these are ex lease vans so up for purchase but at a good price - hire purchase or buy out right.

 

[Hellmooth]

Think you misread here murdoch ... these are ex lease vans so up for purchase but at a good price - hire purchase or buy out right.

I think Murdoch was referring to my OP?

 

[shanky887614]

Think you misread here murdoch ... these are ex lease vans so up for purchase but at a good price - hire purchase or buy out right.

sainsburys has a very good fixed 3.5% rate atm.

some of the manufacturers are selling them on finance with 0% interest.

no point buying outright unless you want to of ccourse

 

[uksparks]

I personally prefer to own my van, I paid £800 for my one I have currently, I have had it three years without any problems at all, its got 160,000 on it now, still going very well.

If you have a loan or lease one, its just another expense eating into your profits etc, yeah ok its nice to drive a shiny new van, but do you really need it?

 

[telectrix]

second uk on this. buy cash, buy older. that way, if work takes a downturn, you've not got a big chunk of your hard=earned going out each month,

 

[Darkwood]

There's 2 sides to any coin though ...been a breakdown Engineer I really have to have a reliable van and the old just come with too many risks - having a breakdown can be costly especially if the customer is loosing 10k and hour because a machine is down...Ive tried the older used market and its let me down too many times, I suppose it depends on your circumstances really but there is a large shortage in my area of the trade so work is reliable constant with fallback projects on the go if the breakdowns are not as forthcoming.

 

[ruston]

The biggest downside to a lease is the fact its based on x years and x miles - so if you do too many miles you will have extras to pay at the end, too few miles and you are paying over the odds for the length of the contract.

And if you need to ditch the van part way through the contract - what are the financial penalties for this?

Buy on a loan is my advice! That way YOU own the asset and if you look after it, once its paid for you can opt to keep it or trade it in.

Just to add to that if there is ANY damage or marks they will put them right and bill you for them.

 

[Hellmooth]

As you say Darkwood there is 2 sides, I do want the new van for reliability etc, but as Tel says it's a fair chunk of money for a fair amount of time, if things are going well then it isn't much in the grand scheme of things! I'll keep on pondering, cheers for the comments!

 

[Hellmooth]

Just to add to that if there is ANY damage or marks they will put them right and bill you for them.

Leasing is a defo no I'd say then!

 

[Harni]

Dont forget though, brand new does not equal reliability. We have some Ford focuses (Foci' ?) at work. None are any more than a year old and the worst out of the bunch has had the AA out to it 15 times so far. My 2.5 year old car has been in the garage more times than i care to remember. Admittedly, we do use them more than your average school run mum but the point still stands that new does not equal reliable.
If it were me, i would be going for a end of lease vehicle direct from the auctions but find out who the lease company was. Some really look after their cars, others will just have the minimum done to keep them road worthy before they sell them on. Alphabet for example, I've heard stories they won't even pay to have their cars serviced at the recommended intervals and even when they do its by Halfords auto centres. I would trust my dog to do a better job at servicing a vehicle than them idiots.

 

[telectrix]

my '04 hiace cost me £1500 with 169k on the clock, and is as reliable as anything much younger. ferg just bought a '11 hiace for 7.5k. somewhere in between might be your ideal choice.