Clean It Up
UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: Jack Harris on October 18, 2014, 03:43:28 pm
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what are the benefits?
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Benefits? Its down to a calculated risk for the buyer. Buy old and the up front cash payment may pay off over the period of ownership. Buy new cash or finance may work out as well. It's a roll of the dice.
Contract hire? You know what your are paying over a term although you will have to put right any damage and bear in mind there is a contract.
For me there is no argument what is better, its all down to the second biggest calculated risk most of us will take.
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I bought mine, main reasons are the added costs when you hand it back if leased, scratches even the wrong brand of tyres.
Also don't forget your going to waterproof the floor and fix a tank in it.
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Don't think they are bothered about small scratches or dints. I know you can put any tyres on. This is main dealer contract hire. Rule of thumb. If its damage is smaller than your hand, its ok. Just went through this for wife
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Don't think they are bothered about small scratches or dints. I know you can put any tyres on. This is main dealer contract hire. Rule of thumb. If its damage is smaller than your hand, its ok. Just went through this for wife
Thats how the ford guy explained the lease to me. EXCEPT you are allowed 3 per panel with ford lease. So on a van, 3 dents on one panel and its classed as excessive. No matter if 3 are the size of a 10p.
One thing which was scary was sign writing. Most private leased vans are not sign written according to Mr ford Man. He said if i sign write mine, it will come back to haunt me. As if you can see any evidence i will have to pay for paint work!
Gave up and bought a new one.
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My lease is ending this week
I'm paying the balloon, I've already got a buyer for it, £500 on top of what I pay for the balloon.
No need to hand it back at all ;D
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Lease all the way, cheaper monthly payments then pay a balloon payment keep the van or sell it win win win and claim back the vat each as they sent vat invoice each month. Also a tax loss
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cheers for all the info guys, Think I'm going to go with the lease, the company I've spoke to said i can have the van sign written, no restriction on mileage and can fit a system and seal the floor in the back, works out at £215 per month for the Transit custom. Do you think thats a good deal? I'm new to all this so any info will be great, I'm just sick of buying used vehicles now and spending 1000s on repairs.
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Yes that sounds like a good deal. What company are you going with?
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its with www.vanleasing.com mate
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If you have a balloon payment at the end, its not a lease (contract hire) its PCP (contract Plan). Leave is long term hire 2 or 3 years. Hand back, done. PCP you cab hand back after half the term or go full term and pay balloon/keep/sell etc
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cheers for all the info guys, Think I'm going to go with the lease, the company I've spoke to said i can have the van sign written, no restriction on mileage and can fit a system and seal the floor in the back, works out at £215 per month for the Transit custom. Do you think thats a good deal? I'm new to all this so any info will be great, I'm just sick of buying used vehicles now and spending 1000s on repairs.
Is that + vat? How much down, for how long & any balloon payment etc? Only then can anyone comment whether it's a good deal or complete rip off!! ;)
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(http://www.cleanitup.co.uk/smf/1413744258_20140703_153948.jpg)
£2300 down
£230 month 4 years
£5000 balloon.
Thats £53 a week,
Had a vito and put £70 a week diesel this van i put £35 a week £53-£35=£18 a week for new van.
after 4 year give it back get new one.
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I bought mine, main reasons are the added costs when you hand it back if leased, scratches even the wrong brand of tyres.
Also don't forget your going to waterproof the floor and fix a tank in it.
THIS
Also the deposit for the Vat is the same as what i put down to buy , and i couldnt face re fitting roof bars and systems every 2-3 years . I dont have sign writing but that would be another pita
i might get rid early or once its bought but if im struggling i could keep it and run it into the ground
Leasing is a good idea in theory in practicality for me it was no good, one last thing is my monthly payments are similar with HP than most of the leasing ive seen , but i am paying over 5 years and most lease deals are 3 so no doubt thats why
Only thing is my van is 1 yr old not new .
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My lease is ending this week
I'm paying the balloon, I've already got a buyer for it, £500 on top of what I pay for the balloon.
No need to hand it back at all ;D
Also my van had sign writing and no waterproofing whatsoever
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(http://www.cleanitup.co.uk/smf/1413744258_20140703_153948.jpg)
£2300 down
£230 month 4 years
£5000 balloon.
Thats £53 a week,
Had a vito and put £70 a week diesel this van i put £35 a week £53-£35=£18 a week for new van.
after 4 year give it back get new one.
Same, 2k in £295 x 60 no ballon it mine
What your mpg Jim mine 32 a plumber mate same van 43
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Jimiwindows I presume the payments include vat. The black looks good but I find scratches stand out to much with black.
I'm going for white as my wifes car has no visible scratches from the kids etc and on my car which is red they stand out a mile. Hopefully the new motor arrives tomorrow.
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Tony, I've got a 57 plate lwb connect 1.8tdci and I'm getting over 40mpg. You sure yours is 32 ???
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Yes, it's what the trip says. I'm going to take it back as it seems so underpowered, but then that will make the mpg worse if they tune it up
The sign writing will be changed, this was the first, will post the finished jobbie
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40 litres of diesel covers at least 380 miles = 43mpg
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40 litres of diesel covers at least 380 miles = 43mpg
£40 of diesel only gives me 180 miles. :(
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40 litres of diesel covers at least 380 miles = 43mpg
£40 of diesel only gives me 180 miles. :(
I'm getting a 2.5L pickup which has a better economy than that. A 7 year old 1.8tdci with 104k at 43mpg says there is something wrong with yours ???
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The new fords are notorious for it. My custom is worse than our 12 year old transit.
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(http://www.cleanitup.co.uk/smf/1413744258_20140703_153948.jpg)
£2300 down
£230 month 4 years
£5000 balloon.
Thats £53 a week,
Had a vito and put £70 a week diesel this van i put £35 a week £53-£35=£18 a week for new van.
after 4 year give it back get new one.
That's £13,340 shelled out over four years for a vehicle you do not own but are still responsible for. You could buy a brand new dispatch/scudo for the same money & have a business asset still worth 5k after that four years.
Just another way of looking at it.
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I bought mine, main reasons are the added costs when you hand it back if leased, scratches even the wrong brand of tyres.
Also don't forget your going to waterproof the floor and fix a tank in it.
THIS
Also the deposit for the Vat is the same as what i put down to buy , and i couldnt face re fitting roof bars and systems every 2-3 years . I dont have sign writing but that would be another pita
i might get rid early or once its bought but if im struggling i could keep it and run it into the ground
Leasing is a good idea in theory in practicality for me it was no good, one last thing is my monthly payments are similar with HP than most of the leasing ive seen , but i am paying over 5 years and most lease deals are 3 so no doubt thats why
Only thing is my van is 1 yr old not new .
With leasing you are paying for the depreciation of the van over a set period and specific mileage with admin fees etc. When outright purchasing you are buying the whole van and the depreciation element.
Depending on your mileage you can usually expect trouble free motoring up till around 5 or 6 years of age, then you will expect a higher maintenance cost with cambelt change, more tyres, exhaust and brakes on the list.
It does appear that leasing has changed a bit since I was in the trade. Rentals were typically 3/35 or 3/47 (3 being the initial rental of 3 times the monthly rental all + VAT.) It would now seem that they are looking for a much higher initial rentals to keep the month payments looking good. Many purchasing contracts do include a final balloon payment which make for lower monthly repayments but can be an issue at the end of the contract as you have to find/finance this if you want to retain owner ship for longer.
So now you have to consider that once the contract has ended and you start another you will have to find another 2 to 2.5 k deposit. To compare you need to look at buying a van outright and running it over a 6 year period and then leasing 2 new vans, each with a 3 year lease. This will give you a better idea from a costing point of view of comparing leasing with outright purchasing.
Remember a dealer salesman will be presenting his figures in the most favourable light. The next contract after the first will never be spoken about except that you will get another brand new van.
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Yes, it's what the trip says. I'm going to take it back as it seems so underpowered, but then that will make the mpg worse if they tune it up
The sign writing will be changed, this was the first, will post the finished jobbie
not tryin to be rude Tony, but as you said it wasn't the finished job anyway, I think the images look more like a garden landscapers van rather than a window cleaners, just my opinion tho.
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(http://www.cleanitup.co.uk/smf/1413744258_20140703_153948.jpg)
£2300 down
£230 month 4 years
£5000 balloon.
Thats £53 a week,
Had a vito and put £70 a week diesel this van i put £35 a week £53-£35=£18 a week for new van.
after 4 year give it back get new one.
That's £13,340 shelled out over four years for a vehicle you do not own but are still responsible for. You could buy a brand new dispatch/scudo for the same money & have a business asset still worth 5k after that four years.
Just another way of looking at it.
I worked it out to £18340 for a van you have to hand back over before its paid for?
your basically hiring a van for 18 grand? or have I missed something?
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^
Yep that's a similar conclusion that I came to when weighing up buying or leasing a van last year.
For me it made more sense to buy.
The connect above is costing him £4585 per year for 4 years (£382 per month) and then left with nothing if im reading it right.
Seems an expensive way to keep a van on the road to me.
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Sorrry if i pay the £5000 i can keep it if not give it back.
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Sorrry if i pay the £5000 i can keep it if not give it back.
Don't think you should apologize, as if they looked into it already they would know this.
Unless they looked into it and the salesman talked them out of it.
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Sorrry if i pay the £5000 i can keep it if not give it back.
Don't think you should apologize, as if they looked into it already they would know this.
Unless they looked into it and the salesman talked them out of it.
Yes I read it wrong.
So it's £5000 balloon payment at end of the lease term to keep the vehicle.
It's horses for courses, some people are happy with leasing but it wasn't for me as after 4 years my van will still be worth probably £4-5k which if I was leasing I would not have.