There are many reasons why you may need a van for business or personal use. When you’re self-employed and need a van, it can help maximise your workload and make your business more efficient. Whether you’re a dog walker, delivery driver, builder or electrician, there are so many requirements that you may to consider about your next van. If you’re just starting out on your own, it can be hard to know which van to choose for your business needs. The guide below looks to explore different types of vans and also the important questions to ask yourself before you buy a new van.
Can you afford to get a van?
Whilst getting a van can help to maximise your business, it can be worth asking yourself if you can really afford to get a van. If you’re buying with cash, you will need to have the money saved up before you can invest. Many people choose to spread the cost with van finance even if you have bad credit, but you need to be sure you can afford to make fall finance payments on time and in full. If your incomes vary massively each month or you can prove your income, it can be hard to get access to car finance deals. Choosing the wrong van for your needs could also leave you out of pocket so we’ve created this guide to help. Read on for how to choose the right van.
How to fund your van purchase
There are a number of ways in which you can get a van. Two of the most popular ways to fund your van purchase is through either cash or finance.
Buying a business van with cash can be one of the most cost-effective ways to get a vehicle. When you buy with cash, you are the automatic legal owner of the car, can modify your van as you like and sell it when you’re ready. There’s also no deposit or interest to pay so it can make your deal cheaper. However, a good van can cost thousands of pounds to buy outright and if you’re just starting out, you may not have this type of disposable income.
- Van financing
Using finance to get a van is a great way to spread the cost if you don’t have the cash. It means you can pay for your van in monthly payments till the end of an agreed term. It’s worth noting that car finance is subject to approval though and if you’re looking for no credit check financing, it can be hard to obtain. It’s also worth consider you income and affordability. Van finance lenders want to see how much you earn and how you’re going to afford to pay your finance back on time and in full. If you get paid cash in hand, it can be a good idea to deposit this into a UK bank account to prove your earnings.
Your van requirements
The amount your need to borrow for finance and the size of the van you need can be determined by the type of work you do. It’s worth looking at how you will use your van and how much space you need. It can be worth checking the payloads of different vans too as this is really important. The payload is the maximum weight a van can legally carry and if you exceed the payload, you can be faced with a fine from the police. The payload also includes the weight of any passengers too so it’s worth keeping in mind when shopping around.
Running costsBuying a can for your business need sis all well and good but you should also consider how much it costs to own and run a van too. If your van is a fuel guzzler it can cost, you much more than it needs to. It’s worth looking at different makes and models to see which van is the most fuel efficient. It can also be a good time to consider an electric van for your business to see how much you could save recharging your van instead of refuelling.