How to Finance Your Small Business Van

Small businesses need a van for deliveries and pick-ups. It is also an advertising board on wheels, but when money is tight how can you afford the outlay of financing a van? You have three options to get a van for your business: buying, leasing or a personal contract purchase.

Image Credit

Lease

The advantages of leasing a van are that you know your monthly costs and the length of the lease, which can be put into your business plan. Also, you don’t have to worry about depreciation, as you can return the van at the end of its lease and get another new van and start again. Some lease agreements also cover the cost of annual servicing. The downside of leasing is that you will generally pay more than the cost of a new van over the lease period. This is how lease companies make their money, but the amount paid would still be considerably less than if you bought the van with an unsecured loan.

PCP

A personal contract purchase is similar to leasing, but you will own the vehicle outright at the end. The monthly payments are smaller, but at the end of the agreement you will have a lump sum to pay to acquire ownership of the vehicle. If you don’t want this, you can simply hand it back and start the process again with a new van. This process is very similar to a hire purchase agreement, but with hire purchase you cannot hand the vehicle back.

Image Credit

Buying

If you have the cash to go out and buy a van, you will have peace of mind that the van belongs to you, and you have no monthly repayments. The downside is that not many small businesses will have a chunk of cash to splash out on a van, and you have the unpredictable costs of maintaining the van and keeping it in a good condition ready for the day you will want to sell to upgrade to a bigger van. A way of keeping your van in a good condition is by plylining – see www.vehicle-accessories.net for more information. This is a process of lining the van with plywood, which will strengthen the interior and protect it against dents and scratches.

Choose your option carefully, keeping in line with business goals and the available budget.…

Small businesses need a van for deliveries and pick-ups. It is also an advertising board on wheels, but when money is tight how can you afford the outlay of financing a van? You have three options to get a van for your business: buying, leasing or a personal contract purchase.

Image Credit

Lease

The advantages of leasing a van are that you know your monthly costs and the length of the lease, which can be put into your business plan. Also, you don’t have to worry about depreciation, as you can return the van at the end of its lease and get another new van and start again. Some lease agreements also cover the cost of annual servicing. The downside of leasing is that you will generally pay more than the cost of a new van over the lease period. This is how lease companies make their money, but the amount paid would still be considerably less than if you bought the van with an unsecured loan.

PCP

A personal contract purchase is similar to leasing, but you will own the vehicle outright at the end. The monthly payments are smaller, but at the end of the agreement you will have a lump sum to pay to acquire ownership of the vehicle. If you don’t want this, you can simply hand it back and start the process again with a new van. This process is very similar to a hire purchase agreement, but with hire purchase you cannot hand the vehicle back.

Image Credit

Buying

If you have the cash to go out and buy a van, you will have peace of mind that the van belongs to you, and you have no monthly repayments. The downside is that not many small businesses will have a chunk of cash to splash out on a van, and you have the unpredictable costs of maintaining the van and keeping it in a good condition ready for the day you will want to sell to upgrade to a bigger van. A way of keeping your van in a good condition is by plylining – see www.vehicle-accessories.net for more information. This is a process of lining the van with plywood, which will strengthen the interior and protect it against dents and scratches.

Choose your option carefully, keeping in line with business goals and the available budget.…

Why You Should Lease a Luxury Car

Many people have a misconception of driving a luxury car. Many people believe that you have to be a high-income earner in order for you to be able to afford to drive a luxury vehicle. The reality of it, is that almost anyone with an income can have the experience of driving a luxury car. According to Investopedia, some of the benefits to leasing a vehicle rather than buying a vehicle include: lower initial payments, the opportunity to have a new car every few years, or a free maintenance, no resale concerns and maximizing tax deductions. There are so many kinds of benefits from being able to lease a car. In fact, many people even believe that leasing a car is much more better for you than buying a car if you’re looking to save money and looking for more opportunities. If you have always had a dream of driving a luxury car, then you should consider leasing your next luxury car.

According to Statista, in America, there were more than 28 percent of new cars bought that were leased towards the end of the year in the year of 2017. There are many benefits as well as there are many disadvantages to leasing a vehicle. It all depends on your situation and what are you hoping to achieve in the end. Many people opt for leasing a vehicle because they can appreciate the fact that they can get a new car every few years. There are other people who are looking to keep the same vehicle for many years down the line and eventually selling it when the value has completely diminished. Over the past few years, there has been a significant increase in the amount of luxury cars that are being released. The advantage to leasing a luxury car is that you can drive a luxury car without having to face all of the upfront expensive fees required. When you purchase a vehicle, you are required most of the time to include a significantly high down payment, forcing you to come up with a large lump sum up front.

If you have had dreams of driving a luxury vehicle, you can now be able to make that dream come true. With leasing a vehicle, you can select any vehicle of your choice. You do not have to come up with high lump sums of cash for you to drive home with your vehicle. in addition, one of the greatest advantages to leasing a vehicle is that you can turn this vehicle in at the end of the lease and then you are able to leave the next new hottest car out on the market. Many people appreciate the idea that you do not have to be stuck with one car for the rest of your life. Being able to have the flexibility to turn in your car and get an upgrade is always nice. If you have been thinking about leasing a car, you may want to first do your research to see what is best for your situation. You can start an online search for: lease a Lexus brooklyn ny.

Overall, leasing a luxury car is a great opportunity for many people. Don’t be stuck driving one car the rest of your life. In addition, leasing a luxury vehicle will allow you to be able to comfortably afford a luxury vehicle, without having the costs break your pockets.