For a lot of small business owners getting your hands on a first van can be an extremely important step.
Some of you might be looking directly at vans for sale, usually a second hand van that you might be able to replace later down the line. However, this option is quite expensive for a lot of new businesses, which means that some of you might be more interested in leasing a van from a reliable van leasing company. Alternatively, Van Hire Purchase and Van Rent-to-Buy schemes have grown in popularity in recent years.
Despite what you might hear, there’s no cut and dry answer for which are the best schemes, and it’s not always a case of choosing one over the other. Instead it depends on your circumstances, the current scale of your business, and what you’re ultimately looking for in the long term.
Here at Otto Van we think that flexibility is key, and we are in the business of finding the best deals for everybody, based on their needs and circumstances. That’s why we wanted to provide a simple breakdown of these different schemes, so that you can start to get an idea of what would suit you best.
For newer business owners, or people that are still in the process of setting up their business operations, van leasing is an ideal option.
You might already have a couple of jobs on your books, but aren’t entirely sure how the following three months are going to play out exactly. The great thing about van leasing is that it’s extremely flexible. Although it’s not an entirely viable long term solution, van leasing provides new businesses with the opportunity to complete their initial jobs and gain some experience in the short term.
Over time, once you have a steady stream of work coming in, and you more or less know your monthly income, you might be more interested in not having the regular cost of a van lease on your books permanently, and that’s where buying a van, or Rent-to-Buy schemes come into play.
Pros: 1.) Flexible model. 2.) Great option in the short-term.
Cons: 1.) Won’t actually own the van. 2.) Becomes an expensive option in the long-term.
Getting a Rent-to-Buy Van scheme is a great way for small business owners to convert their monthly van payments into a long term asset over time. This new scheme allows van owners to essentially lease a van for a fixed period, and take full ownership of the vehicle at the end of the agreement.
You might not directly have the funds to purchase a van for sale outright, or you might not want to burn a hole in your books right now with a large investment.
This is where a rent-to-buy van comes into play, since you aren’t just leasing a short-term vehicle that can help you complete jobs, but you’re working your way towards owning a physical asset that can boost your business prospects and profitability in the long term.
Pros: 1.) It’s actually your van, 2.) Turn a current expense into a future asset. 3.) Additional perks that come with rent-to-buy schemes.
Cons: 1.) Longer contract. 2.) Have to be more consistent with payments.
At Otto Van, we understand that flexibility is important for business owners, which is why we try our best to sort out the best deals for you personally. This includes our popular Rent to Buy Van schemes for business owners, with no credit check and just a small down payment.
Check out a full list of our vans here, and get in touch with a member of the team to start talking about how you can get some wheels for your business today!