Painter and decorator lease van?

Discussion in 'Car and Van Talk' started by dvddvd, Feb 2, 2017.

  1. dvddvd

    dvddvd Well-Known Member

    i currently have a Citroen Berlingo and really hate it due to the space inside. I want to get a transit size van. Don't want to spend a fortune, because no matter how careful I am it gets paint on it!

    Was going to spend £4000 on a 2011 transit I saw, then I started looking at leasing?

    I've read up a bit on leasing but seem to be going round in circles?

    Seems for £200 a month I can get a new van? How does it work with claiming back on your tax? Would this be the best way to go in my predicament ?

    Any pointer would be welcomed
     
  2. Phil the Paver

    Phil the Paver Screwfix Select

    I'd spend the 4k, at least its yours then.

    Leasing has a lot of small print that will cost you at the end of the term.
     
  3. dvddvd

    dvddvd Well-Known Member

    I'm not that bothered if it's mine at the end, it's just the £4000 I may be buying an unreliable van and with costly mots etc. I just thought £50 a week for peace of mind and its new.

    What sort of stuff is in the small print at the end! Somebody told me also if you lease you can claim it back more easily because it's an out going every month not just a one off payment?
    Many thanks
     
  4. koolpc

    koolpc Well-Known Member

    What if you constantly mess up the inside with paint etc? Surely that will cost you more in the long run?
     
  5. KIAB

    KIAB Well-Known Member

    There are several types of van leases,lease purchase, operating lease,some have mileage limits,signwriting,etc.
    Buying a van, you can haggele on the price, it's yours to do as you wish,it’s an asset, a part of your business.
     
  6. There are some benefits to leasing, your accountant will say what is best for you.

    But as a comparison, look at the cost over the length of the time you have it and work out whether its more or less than the equivalent depreciation value, plus servicing and repair costs (depending on the lease terms). Then add in over mileage charges at the end, plus any body repairs needed to bring it up to expected condition and compare the costs.

    I would always go for van I owned even if the costs were similar, because I could do what I wanted with it at any time without any thought about the ters and conditions of the lease. But I doubt if the costs are similar anyway, the lease people have to make a profit from the deal too.
     
    KIAB likes this.
  7. Wayners

    Wayners Active Member

    I go to van auctions and buy mine. I save £40pm and buy shares using Halifax share builder. Buy £160ish every 4 months, as it stops spend it if I put in savings account. Nicely tied up. I just buy 3 stable blue chip shares as have little idea about stock market. Cash in when ready and buy a 3 years old van from auctions for around £4200+. I heard if you borrow money from anywhere then you have to earn about £2.50 for every pound borrowed. Stuff that. Saving myself a fortune and have a nice van. That's how I do it
     

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