[L.J.Thorpe]

how do you install a system
surely you cant make any mods to the vehicle
so how is it all set up

[Captain Scarlet]

LJ . Its commonly accepted by MOST leasing companies that builders etc will need to mod their vans for work ( shelving and stacking ). We are by no means the only ones who drill our vans bodywork!!!! alot of leasing companies just accept it, luke

[Captain Scarlet]

I dont lease though, but i know about that aspect, Luke

[NWH]

They do NOT all accept it.

[Captain Scarlet]

Just modified my message, i have never heard of one that doesnt though, Luke

[L.J.Thorpe]

REALLY
you can drill holes thru floor and chassis,then just hand it back after lease is up
REALLY
if this is true i will never BUY another van

[geefree]

why not.... when you lease ... you are paying nearly twice as much as the van will ever be worth...regardless of how ever you work the figures out....

for example.... the balloon payment at the end of the contract .(optional)

ridiculous.

[Captain Scarlet]

yes...thats why i will never buy again either...when this vans finished. all the companies with brains lease...who wants all their revenue tied up into a piece of machinery that can break at any moment?

[Alex Gardiner]

yes...thats why i will never buy again either...when this vans finished. all the companies with brains lease...who wants all their revenue tied up into a piece of machinery that can break at any moment?

I do not lease - does this make me brainless
I own my vehicle outright, bought about 6 years ago and it has depreciated about £180 a year since then and has been very reliable. I will be changing it though in January as it is getting long in the tooth (12 years old/160,000m), but I will be buying outright again and will be sticking to the bargain end of the market - you just cannot lose much money that way, even if it does go completely wrong.

Just my opinion though. I have considered leasing, but just cannot swallow paying £24,000 over 4 years for a VW transporter. I can afford it, but don't want to.  The formula seems to be - if you spend under £12,000, it's most tax efficient to buy outright or on a loan, if you want to spend over that, it becomes more tax efficient to lease/contract hire.

[MNWC]

What vehicle have you got then alex

[tomy jackson]

three weeler like dell boys

[Alex Gardiner]

What vehicle have you got then alex

It's a beauty.............

Originally it was a 7 seater Renault Savannah Estate (with the beefed up suspension).  I removed the third row of seats and the custom made tank sits where the seats were.  I have a custom made metal frame which bolts into the structure of the vehicle (no modification to the vehicle as it uses the re-inforced bolt holes already built in by Renault for when the car was used as a commercial vehicle in Europe) to retain the tank in case of an accident.  My replacement vehicle (due in January) is going to be a van however as I'd like a little more space.

[pingu]

Alex you have got to be kidding....ROFL ...

[Captain Scarlet]

thats SOOO cool!!!

[Clive McDonald]

I've been a bit surprised by this side of you before Alex when you've posted pictures of jobs. Plastic hoselock reels that do the job, a card index that works fine but not george.

My theory is that the actual wc side has plateaued and you are happy with the work you have. You do not need to push the alex gardiner wc brand by raising awareness in your local area with a signwritten van and advertising.

A signwritten van (secondhand scudo 7k plus vat) was a must for me and many in my situation.

[Alex Gardiner]

I surprise myself sometimes! 

The fact is, this car only gets used one day a week.  The rest of the time I work out of one of the firm's partner's vehicles or in my sub-contractors' vehicles.  We could run the firm with one less vehicle but it's so useful having it there in case it's needed.  It is true that for our window cleaning business we do no promotion, advertising and have no real need of extra work.

I do like to keep things as simple as possible and if it ain't broke why waste £24,000 fixing it?

[Captain Scarlet]

how many ltrs in the back of that?

[Alex Gardiner]

About 300 litres, well within it's plated carrying capacity.

[Paul Coleman]

What vehicle have you got then alex

It's a beauty.............

Originally it was a 7 seater Renault Savannah Estate (with the beefed up suspension).  I removed the third row of seats and the custom made tank sits where the seats were.  I have a custom made metal frame which bolts into the structure of the vehicle (no modification to the vehicle as it uses the re-inforced bolt holes already built in by Renault for when the car was used as a commercial vehicle in Europe) to retain the tank in case of an accident.  My replacement vehicle (due in January) is going to be a van however as I'd like a little more space.

I like the additional tank on the roof.  Good idea.

[L.J.Thorpe]

having now looked into it a bit more closely i think that the cost is too much
like alex says its not not being able to afford it
more the thought of paying over the odds
i am sure a new vehicle is very nice
but.....thats a lot of money

[Captain Scarlet]

thats the beauty of leasing...having the new vehicle but not having to save up or pay out for it in one go....loosing interest in the bank?? its what alot of rich people do, they know better than to spend their hard earn cash all in one go on a vehicle that could be crashed into a wall the next day. Go look at alot of rich peoples number plates in the 06, 07, 08 vehicles, they often have the name of a leasing company at the bottom. And after 3 years you can get rid and turn up in a new van again, Luke

[NWH]

thats the beauty of leasing...having the new vehicle but not having to save up or pay out for it in one go....loosing interest in the bank?? its what alot of rich people do, they know better than to spend their hard earn cash all in one go on a vehicle that could be crashed into a wall the next day. Go look at alot of rich peoples number plates in the 06, 07, 08 vehicles, they often have the name of a leasing company at the bottom. And after 3 years you can get rid and turn up in a new van again, Luke

You have to then resign yourself for paying out all those payments forever don`t forget Luke,if you crash your van there is a thing called insurance aswell you know lol.Rich people do it mainly as a right of for tax not for any other reason,if your wealthy your accountant will tell you to go buy a new car etc otherwise he`ll only have to give it to the taxman.

[Captain Scarlet]

Payments dont bother me.....suppose different things suit different people! Luke

[Captain Scarlet]

Its like a mobile, or sky

[NWH]

The best way seems to be the way Alex suggested,outright purchase and then after 3 years if you want to keep it for another 2 years the overall value won`t have dropped that much.If you then want to lease because you can`t afford to have cash tied up then lease but you don`t have to do it forever,it`s something think about.If your not vat the best and cheapest way is hp or bank loan.

[twt]

if your a sole trader and not vat registered you probably won't benefit from leasing especially since the tax rules have changed and you can spend up to £50,000 a year for the buisness (on vans, equipment etc) and get tax relief on 100% of it, this now makes leasing less appealing.

[L.J.Thorpe]

what about loans
what are the criteria for a loan
ie if you borrow money from a bank to buy a van are the loan repayments tax deductible
i dont have a business account
just a regular current account which i pay all earnings into and  use to pay for anything related to business
how do i show tax man i borrowed money for business purposes
or do i even need to

[NWH]

Reciepts,and loads of them,if you need a business loan you will need a business account.You can get a loan for a van and pay it from your current account monthly,the accountant needs to be aware of it but a good 1 should question the amount of money going out each month.Myself at the moment i outright purchase a van as i hate HP on anything,if you can afford it and you work it out it`s cheaper no interest to pay etc,it does mean your eating into capital but i`d rather do it that way at the moment just my personal choice.

[jaykie]

Most of the rich buy them on credit as you get o% leave the money in bank to make payments which is earning interest and pay in full at end of term or sell,
youll find most the leasing companys wont lease to you if your making holes in floor.

Chris

[NWH]

Most of the rich buy them on credit as you get o% leave the money in bank to make payments which is earning interest and pay in full at end of term or sell,
youll find most the leasing companys wont lease to you if your making holes in floor.

Chris

Indeed they won`t as i said.

[L.J.Thorpe]

what about loans
what are the criteria for a loan
ie if you borrow money from a bank to buy a van are the loan repayments tax deductible
i dont have a business account
just a regular current account which i pay all earnings into and  use to pay for anything related to business
how do i show tax man i borrowed money for business purposes
or do i even need to

That’s why you should keep separate accounts; if you are ever looked at by the tax man it could be costly.

It doesn’t have to be labelled a business loan any loan used for business is ok and you will probably get a better rate. Only the interest on the loan is tax deductible not the principal.

 

ewan read the post again :
it IS a seperate account
it just ISNT a business account
i pay all income from business into it
i pay for all business related items using it
my bank manager knows all about it
he has no problem with it
so i dont pay business banking fees
i refer to it as the business account simply because its the account i use for business
but it is an ordinary current account
THATS why i was asking about loans for business

[NWH]

what about loans
what are the criteria for a loan
ie if you borrow money from a bank to buy a van are the loan repayments tax deductible
i dont have a business account
just a regular current account which i pay all earnings into and  use to pay for anything related to business
how do i show tax man i borrowed money for business purposes
or do i even need to

That’s why you should keep separate accounts; if you are ever looked at by the tax man it could be costly.

It doesn’t have to be labelled a business loan any loan used for business is ok and you will probably get a better rate. Only the interest on the loan is tax deductible not the principal.

 

ewan read the post again :
it IS a seperate account
it just ISNT a business account
i pay all income from business into it
i pay for all business related items using it
my bank manager knows all about it
he has no problem with it
so i dont pay business banking fees
i refer to it as the business account simply because its the account i use for business
but it is an ordinary current account
THATS why i was asking about loans for business

You obviously don`t use it much or like a business account otherwise your manager wouldn`t allow it,i pay 100 odd cheques on average in a month i don`t think that looks like a current account do you.

[scud]

what about loans
what are the criteria for a loan
ie if you borrow money from a bank to buy a van are the loan repayments tax deductible
i dont have a business account
just a regular current account which i pay all earnings into and  use to pay for anything related to business
how do i show tax man i borrowed money for business purposes
or do i even need to

That’s why you should keep separate accounts; if you are ever looked at by the tax man it could be costly.

It doesn’t have to be labelled a business loan any loan used for business is ok and you will probably get a better rate. Only the interest on the loan is tax deductible not the principal.

 

ewan read the post again :
it IS a seperate account
it just ISNT a business account
i pay all income from business into it
i pay for all business related items using it
my bank manager knows all about it
he has no problem with it
so i dont pay business banking fees
i refer to it as the business account simply because its the account i use for business
but it is an ordinary current account
THATS why i was asking about loans for business

You obviously don`t use it much or like a business account otherwise your manager wouldn`t allow it,i pay 100 odd cheques on average in a month i don`t think that looks like a current account do you.

  The bank cannot stop yu from using an ordinary account like that, they also cannot force you to have a business account.

  Aren't all payments on a lease tax deductable? All mine are deducted against tax.

[NWH]

Of course they can if they deem it to be being used for business.

[L.J.Thorpe]

nwh
over last 5 wks 58 chqs
this is a lot more than six months ago since i stopped collecting
rest is cash either collected at job or dropped off at my house (quite a lot of em do this )
 marc (scud) says that a bank cant force you to have a business account
thats what my manager told me
of course he could be wrong,i dont know i just took his advice
i used to work with a freelance graphic designer
he had been in business for over 20 years and never had a business account,just a seperate current account