COMMERCIAL VANS

For small or large business owners, commercial vans can be the lifeblood of your company. However, unless you are careful about how you purchase a commercial van, you could be paying an excessive expense that your firm doesn’t need.

The first step when searching for a commercial van is to consider the type of van you need, what you need it for, and how long you will need it. Think about the specification of the vehicle and whether you need it to include ply lining or refrigeration. Then think about the purpose it will fulfil within your company and how you will finance the vehicle.

Broadly, there are three options available when financing a commercial van – to buy outright, to lease, or to rent. Buying commercial vans requires a large initial outlay and higher monthly payments, but you have the reassurance that the van is yours. If you want to update your commercial van every two-three years, look into van leasing which will allow you to simply return the van at the end of the leasing period and take out a replacement model. For short-term commercial van solutions, van rental is often the most cost-effective option for periods up to 12months particularly if you have flexible workloads or temporary staff.

Of course the most important consideration for any commercial van owner should be budgeting. This will usually determine the method of van finance you choose – based on how high you want your monthly payments to be. Remember to look beyond just the financing costs however, and think about fuel economy, tax and insurance.

There are used commercial vans available which could offer better value, but you should carry out thorough vehicle checks before committing to a purchase. Whether you want a new or used commercial van, research the market thoroughly and use online directories to find the cheapest prices around.