Clean It Up
UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: Stoots on April 08, 2018, 01:45:47 pm
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Dazmond (or anyone else)
With regards a finance lease on van.
Whats the crack with the balloon payment? ive been told you can sell to a third party then buy it back?
does this have to be a commercial third party do you know?
also do you know how you put it through the books for tax?
also did you go with vanarama? how were they ?
any regrets?
just weighing up some options
cheers
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Hi Adam
I got a VW van from Vanarama, it took about 6 months to get as I wanted additions like two sliding doors etc. All I can say is that Vanarama were excellent and I would get another van from them.
You will get an invoice every month from them with the amount of VAT you can claim back.
At the end of the term you can either hand the van back to them/buy back and either keep the van and pay the balloon or sell it back to them/third party and use the difference in money to put down on another vehicle as long as its worth more. I think it has to be sold to a commercial company so it includes the VAT, but not totally certain.
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Vanarama were great....
I get an invoice every month for tax/expenses purposes ....
As regards balloon payment.i can either sell it to anyone and pay off the balloon,hand it back and get another lease contract or pay off the balloon myself and keep the van....
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I had a brand new van on my drive within 4 weeks from my first contact with vanarama.....
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As for regrets......the only regret I have is that I didn't do it sooner instead of messing around with older vans that had been thrashed....
Incidentally I put up some of my prices to cover the £200 a month rental.....i just see it as a business expense now.....
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Just a word of warning Adam.....they charge you VAT on your road fund licence.which I didn't know beforehand.as it's a business finance lease so the road tax attracts VAT but I'm not VAT registered so have to take the hit myself...
Also you need a good credit history to even get considered for vehicle leasing....luckily mine is well above average.....
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I've already been accepted for finance daz with them. I'm stalling a bit as the van I wanted they didn't have in the colour I wanted and I also want to take a look at a few vans in person before pulling the trigger.
Im also just trying to find out the tax implications etc before I go ahead.
Do you know if you can claim the payments as a rental like you would aa contract hire or does it have to go down as a capital expenditure and depreciated? (I do my own books)
I would rather HP a new van but don't want to stump up a deposit.
The balloon doesn't bother me as long as I have some options with it.
Regarding the tax, with a finance lease don't you get the tax included only for the first year?
I have a van already that's decent but I want something for the family and big enough to run a 2 man system if needed.
I'm after a lwb vivaro double cab.
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Also am I right in thinking you can do what you want with it In terms of drilling holes in it, fibreglassing it out, signwriting etc?
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Why not buy on HP instead?
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Why not buy on HP instead?
Don't want to fork out a deposit and the monthly payments are usually higher (for an equivalent van)
Not decided yet mind, not in a rush.
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Why not buy on HP instead?
Don't want to fork out a deposit and the monthly payments are usually higher (for an equivalent van)
Not decided yet mind, not in a rush.
It’s usually just the VAT and yes payments are higher but you will have an asset at the end. I recently “bought” a vehicle on PCP which is pretty similar, but I wouldn’t do it again.
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Yes i realise that i wont have an asset (unless i can pay the balloon)
The van i want is 17k plus VAT, been told i need about 5k deposit then 300 a month for 5 years
with a lease its about 275 per month then 8k balloon
the HP worked out at 24k total
the Finance lease 25k
all inc VAT
not much in it, although i agree HP would be better, i may get a tax advantage going with a lease (i need to look into it)
I could stump up a deposit, but would rather not tbh, i would rather invest that money into growth or even sock it away for the balloon.
I dont know lol, i wont get one till June anyway as im away 2 weeks in May, better not spend all my holiday money lol
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Sorry Adam I've posted my reply in the "new tax year" thread by mistake !!!! ::)roll ;D
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Sorry Adam I've posted my reply in the "new tax year" thread by mistake !!!! ::)roll ;D
Yeh I know, I didn't have the heart to tell you...
Cheers 8)
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The taxman changed the rules on claiming capital equipment depreciation in 2011 (if I remember correctly.) At one time you could either write off the full van cost in that tax year or apply a depreciation percentage to the value each year. Now you can only claim the full van value in the tax year you bought it.
A lease will allow you to claim the monthly repayments as an expense so spreading the 'depreciation' over the period you lease the van. Of course, if you decide to pay the final payment and the van put into your name, then that final payment amount has to be claimed in that tax year in full.
You take on the risk when you lease a vehicle even if the vehicle is registered in the Finance House's name. So you can do what you like with it but the risk is that if you hand the van back in leiu of the final payment, the finance house will add additional rectification charges to your bill. So its in your interests to look after your van.
Different finance houses will have different rules as to what you can and can't do. In our business we would generally be advised to remove the ply flooring which would be put back when you hand the van back. Any holes drilled in the floor should be filled with blank rubber grommets and that should keep most finance houses happy provided you haven't made a botch of the floor. I would have painted the bare flooring with Protectakote and rubber mats which will protect against scratches and rust.
If you decide to hand the van back either get the van valleted or do a good job yourself. Pay more attention to the cabin and cargo area as it shows you have cared for the van. T cut of the body is also a good idea and a bit of tyre paint goes a long way. Its all about first impressions.
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Just to put my opinion across.
Just handed my van back to Vanarama after 4 years. Gave me wrong date so I got over charged for end of contract.
Had it in a body shop for all minor scratches and dents. I've got OCD and I really looked after it by the way
Final bill £541
I would never lease again. I've just bought a new van. If you've got good credit history I'd get a loan and purchase the newest van you can afford.
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I wouldn't recommend them as they messed me about to the point I put a compliant in and the manager never bothered his arse to reply, nor would he come to the phone! Seen some reviews saying much the same.
As for the contract running over it's down to the finance company what the cost per month is and nothing to do with the broker, it should be around the same price as your contract hire. Make sure you go round the vehicle with the collection guy and get a copy of the paper work, they tried to charge me for a missing key which I think was around £180 but I got it refunded.
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Just to put my opinion across.
Just handed my van back to Vanarama after 4 years. Gave me wrong date so I got over charged for end of contract.
Had it in a body shop for all minor scratches and dents. I've got OCD and I really looked after it by the way
Final bill £541
I would never lease again. I've just bought a new van. If you've got good credit history I'd get a loan and purchase the newest van you can afford.
That's what I was worried about when I looked into it. In the end I bought a VW t6 LWB Highline. Paid the VAT and little extra upfront (£5k), which I've claimed back.
The price of the van was £20k via a broker, VW wanted £24k! Over 5 years total it will cost will be £25k, so £5k in interest.
So it costs me £5k per year, which is fine considering what it earns. And at the end of the term I have a van which will still be worth a good price.
IMO buying is better than leasing.
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Just to put my opinion across.
Just handed my van back to Vanarama after 4 years. Gave me wrong date so I got over charged for end of contract.
Had it in a body shop for all minor scratches and dents. I've got OCD and I really looked after it by the way
Final bill £541
I would never lease again. I've just bought a new van. If you've got good credit history I'd get a loan and purchase the newest van you can afford.
That's what I was worried about when I looked into it. In the end I bought a VW t6 LWB Highline. Paid the VAT and little extra upfront (£5k), which I've claimed back.
The price of the van was £20k via a broker, VW wanted £24k! Over 5 years total it will cost will be £25k, so £5k in interest.
So it costs me £5k per year, which is fine considering what it earns. And at the end of the term I have a van which will still be worth a good price.
IMO buying is better than leasing.
That's a lot of interest. With the last van I found that although the price was higher from the dealer, with 0% it worked out a much cheaper deal than with a van broker.
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Thanks
I'm off to look at some vans this afternoon
I know own which one I want now
If I can get HP finance I'll probably go that route, will just need to save up a deposit.
I don't need one just yet so
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Thanks
I'm off to look at some vans this afternoon
I know own which one I want now
If I can get HP finance I'll probably go that route, will just need to save up a deposit.
I don't need one just yet so
If you have a good credit rating then go for a personal loan, it will be a lot cheaper than HP and you wont need a deposit.
Plus as a cash buyer you will get a better deal on the van .
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Just to put my opinion across.
Just handed my van back to Vanarama after 4 years. Gave me wrong date so I got over charged for end of contract.
Had it in a body shop for all minor scratches and dents. I've got OCD and I really looked after it by the way
Final bill £541
I would never lease again. I've just bought a new van. If you've got good credit history I'd get a loan and purchase the newest van you can afford.
Unfortunately it happens more often than you are told about. Its the Lessors cash cow as the expression goes. This is the time when they can find any excuse to find faults and bill for it. Look how the holiday car rental companies are playing the game to their advantage in Spain and Portugal. Its similar here.
This is why its so important to get a copy of their 'fair wear and tear' booklet so you know what the return vehicle is being judged on/by.
http://www.bvrla.co.uk/advice/guidance/returning-your-leased-vehicle
For example, at one time Enterprise would charge for every little stone chip, but their current standards (last time brother in law hired a posh car from them for the weekend) say any scratches or marks smaller than a 20p piece would be seen as fair wear and tear.
Sadly, it also depends on who does the return vehicle's appraisal. Some are more linient than others in the same company.
I certainly agree with you to get a copy of the final signed appraisal at all costs. As a last resort you have to get a photocopy and ask the appraiser to sign and date that copy in ink so nothing can be added to their documents later.
Good on you for arguing the spare key story. That's a favourite one.
The other one was servicing. At one time it could only be serviced at a garage authorised or approved by the finance house. So that would be at the main agent's workshop and not Kwik-Fit around the corner. I think things have changed, but they can still claim the service was not done to the manufacturers specifications - an interim service for example, and penalise to customer for that. Unfortunately, this sort of thing usually occurs after the next lease vehicle has been signed for so you are stuck for the duration of the next lease.
In all due honesty, I would stay away from Contract Hire in our business, and consider a lease where you can afford to pay the final payment and take ownership of the vehicle when the lease is up like Dazmond is doing. We often had customers increase the monthly payments to make the final balloon payment smaller. If a van was sold to a builder, then the majority of lease deals where a final balloon payment of £1.00 due to the nature of the way that industry in general used to treat their vans. (Much like window cleaners and leisure batteries ;D)
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Thanks
I'm off to look at some vans this afternoon
I know own which one I want now
If I can get HP finance I'll probably go that route, will just need to save up a deposit.
I don't need one just yet so
If you have a good credit rating then go for a personal loan, it will be a lot cheaper than HP and you wont need a deposit.
Plus as a cash buyer you will get a better deal on the van .
I'm going to agree with you, but again one needs to know exactly what the conditions of that personal loan are. One example was a fellow who signed up for a personal loan without realising (or ignoring) the fact that his house was surity for the loan. He fell into arrears for whatever reason and the bank came knocking for the house, not his vehicle.
My son and his wife having been paying the same amount into their mortgage as they did before the interest rates dropped 10 years ago. So they have a lot of equity in the mortgage they can draw from. If they buy a new vehicle, they can use this 'fund' and in effect be paying a pittance interest rate.
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I bought a transit custom second hand Adam.
63 plate, fully serviced from a main dealer. No finance, just saved for 3 years. Never looked back. No monthly payments. No returning the van. Can sell it at anytime privately or chop it in if I ever fancy a new one. It took discipline to save, but I was driving a 06 transit connect before the custom so just decided to buy a van outright that will last 3 years and still be worth something after that.
I hate monthly payments. Hate them.
So for me I prefer to buy outright if I can. This means less stress if the weather is bad in winter/Xmas as I haven’t got to pay £££ for a van each month.
My advice, not necessarily right, is to save and buy one outright, then sell it in 2/3 years and pay a small amount for a slightly newer one.
It really is each to there own though. For me, I prefer Minimal monthly payments, and I prefer to have the van outright mine from day 1.
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I can get a loan although my credit reting must not be that good as the best APR I can get is 12.9% (I've asked both banks who I bank with)
It might be that I can get a better rate on HP I need to find out.
Leasing is still an option for me however as it keeps those other credit lines open (i.e loan) in case I need one in the future and I would rather keep that initial deposit in the bank and then I can sock it away for the balloon.
The van I really want is hard to find on a lease though or at least at a competitive price, I'm after the traffic sport double cab although I might have to settle for the vivaro sportive which is a bit lower specced.
Off to look at one this aft from a Renault dealer, with Renault you get 4 years warranty as well which would be nice.
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I bought a transit custom second hand Adam.
63 plate, fully serviced from a main dealer. No finance, just saved for 3 years. Never looked back. No monthly payments. No returning the van. Can sell it at anytime privately or chop it in if I ever fancy a new one. It took discipline to save, but I was driving a 06 transit connect before the custom so just decided to buy a van outright that will last 3 years and still be worth something after that.
I hate monthly payments. Hate them.
So for me I prefer to buy outright if I can. This means less stress if the weather is bad in winter/Xmas as I haven’t got to pay £££ for a van each month.
My advice, not necessarily right, is to save and buy one outright, then sell it in 2/3 years and pay a small amount for a slightly newer one.
It really is each to there own though. For me, I prefer Minimal monthly payments, and I prefer to have the van outright mine from day 1.
Yes I can understand that.
However I'd rather spend my cash on growing the business and increasing turnover/profit. That way any lease payment are being paid by the business if that makes sense.
I could save up 10-15k but by that time the business wouldn't have grown much and then I'd spend it all and it would be gone.
I would prefer the cashflow
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Adam
I think youd be making a big mistake at this stage buying a van on a lease.
Why not give it a year or so 1st, stick to your plan and get the business to the 60k point first. And i dont mean, 60k on your customer list, i mean an actual 60k in cash throughout.
The reason being is that all manner of things could happen. We just had that awful weather to deal with, which was unprecedented agreed. But you have only had your employee for a month or two give the business time to settle into a good pattern before committing to a monthly lease payment.
Im not buying anything on lease. Ill be purchasing another 08 plate connect at the end of the year outright.
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Ooooohhhhhh.
(http://www.cleanitup.co.uk/smf/1523620902_downloadfile.jpg)
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If you’ve got the work, buy new. You’ll get a warranty and less downtime. I think leasing is mad to be honest unless you can’t afford the vat deposit. In my comparisons the dealer was quite a bit cheaper for the two vehicles I was interested in because of the low interest. The brokers offer poor finance to start but did offer to match the dealer prices in the end but I wasn’t interested.
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Thanks
I'm off to look at some vans this afternoon
I know own which one I want now
If I can get HP finance I'll probably go that route, will just need to save up a deposit.
I don't need one just yet so
If you have a good credit rating then go for a personal loan, it will be a lot cheaper than HP and you wont need a deposit.
Plus as a cash buyer you will get a better deal on the van .
With vehicle purchases quite often cash is not king I got a far better deal by financing the vehicle I bought it worked out over 6k less on finance than if I bought it for cash , strange but true I always thought I would get a better deal paying outright for it but sometimes it’s more advantageous to use finance
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Personally I would just buy a good, vat free van for about 5/6k. If you can't finance the purchase yourself then look for a good loan rate- usually, your own bank offers the worst rate!! You may get a far better rate from 7.5k upwards so take that into consideration too.
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Adam
I think youd be making a big mistake at this stage buying a van on a lease.
Why not give it a year or so 1st, stick to your plan and get the business to the 60k point first. And i dont mean, 60k on your customer list, i mean an actual 60k in cash throughout.
The reason being is that all manner of things could happen. We just had that awful weather to deal with, which was unprecedented agreed. But you have only had your employee for a month or two give the business time to settle into a good pattern before committing to a monthly lease payment.
Im not buying anything on lease. Ill be purchasing another 08 plate connect at the end of the year outright.
what awful weather?4 consecutive days off because of snow this year(first time ive had more than one day off at a time since 2010).....
and as for lease payments...its £200 a month...i dont even notice it going out.....
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I bought a transit custom second hand Adam.
63 plate, fully serviced from a main dealer. No finance, just saved for 3 years. Never looked back. No monthly payments. No returning the van. Can sell it at anytime privately or chop it in if I ever fancy a new one. It took discipline to save, but I was driving a 06 transit connect before the custom so just decided to buy a van outright that will last 3 years and still be worth something after that.
I hate monthly payments. Hate them.
So for me I prefer to buy outright if I can. This means less stress if the weather is bad in winter/Xmas as I haven’t got to pay £££ for a van each month.
My advice, not necessarily right, is to save and buy one outright, then sell it in 2/3 years and pay a small amount for a slightly newer one.
It really is each to there own though. For me, I prefer Minimal monthly payments, and I prefer to have the van outright mine from day 1.
Yes I can understand that.
However I'd rather spend my cash on growing the business and increasing turnover/profit. That way any lease payment are being paid by the business if that makes sense.
I could save up 10-15k but by that time the business wouldn't have grown much and then I'd spend it all and it would be gone.
I would prefer the cashflow
you wont even notice the £200 a month lease payments adam if your still increasing turnover month on month.....and when its time to pay the balloon payment in 5 years your business should be in much more profitable shape....even then you dont have to pay the balloon payment if you dont want,you can sell it and pay it,hand it back or carry on paying £200 a month(well you can with my business finance lease agreement).....
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Daz, there’s no right or wrong way, but for me living in Essex my monthly bills aren’t cheap, and adding on £250 or more for a transit custom every month is too much for me. I could afford it, but I’d much rather that £250 go on things I want rather than a van.
It’s all dependent on your lifestyle and earnings, I’m 29, enjoy a lot of hobbies and want the money I earn to go on the things I enjoy, for me adding £250 odd a month for van would just annoy me lol!
You can afford it daz coz you live up north, have soft water and aren’t supporting a family (or are you? I’m just guessing as you said your in a flat and the girlfriend visits every now and then) 8) ;D
Imagine having a TDS of 480 and paying a huge water bill, RO’s, resin etc, you don’t know your born daz ;D
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I suppose it depends on 2 things , if you can afford it and if you want it.
I don't really spend money on anything for myself, it's all bills and family stuff.
So for me to get a new van to use for business and personal use would be a reward for the work I've put it over the last couple of years.
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Daz, there’s no right or wrong way, but for me living in Essex my monthly bills aren’t cheap, and adding on £250 or more for a transit custom every month is too much for me. I could afford it, but I’d much rather that £250 go on things I want rather than a van.
It’s all dependent on your lifestyle and earnings, I’m 29, enjoy a lot of hobbies and want the money I earn to go on the things I enjoy, for me adding £250 odd a month for van would just annoy me lol!
You can afford it daz coz you live up north, have soft water and aren’t supporting a family (or are you? I’m just guessing as you said your in a flat and the girlfriend visits every now and then) 8) ;D
Imagine having a TDS of 480 and paying a huge water bill, RO’s, resin etc, you don’t know your born daz ;D
True....I'm DI only,no wife or kids,don't smoke,very rarely drink and my rent is £300 a month......my choice though....
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I suppose it depends on 2 things , if you can afford it and if you want it.
I don't really spend money on anything for myself, it's all bills and family stuff.
So for me to get a new van to use for business and personal use would be a reward for the work I've put it over the last couple of years.
With a new van you 've also got virtually no risk of downtime through breakdowns,Mots etc for a few years,3 yr warranty and it looks great for your image esp with logo and signwriting. .all you need to do it fill up with diesel and top up your screen wash!happy days!!!
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How many times have we spent money on old vans that have been battered about for years before we finally get them?(usually with the best part of 100,000 miles on the clock!).I have....loads of times....
It's nice to start with a fresh new van,service it regularly and look after it...then it should last a very long time.....
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Yes daz.
I'm sold on the idea of leasing.
Low monthly payments, no deposit and the option at the end to keep (you can't technically keep it but ways around it) or hand it back/sell it and get another new one. All the payments are tax deductabke and it would be really nice to have a spanking new van with next to no miles and air con, reverse sensors and all that other jazz.
I'm aware its a want not a need, but like you say we work hard (ish ;) ) why not.
I've never had a new van either.
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How many times have we spent money on old vans that have been battered about for years before we finally get them?(usually with the best part of 100,000 miles on the clock!).I have....loads of times....
It's nice to start with a fresh new van,service it regularly and look after it...then it should last a very long time.....
It's not as black and white as that though Daz. Nobody is talking about an pld bangor with 100k on the clock. Plus a warranty direct policy is actually far better than the manufacturers one!! So, for a third of what you are paying, you could have as good a van with a better warranty! Both options are also fully tax deductable.
If you just fancy a new van then that's a different matter but from a purely business decsision then it's not so black or white. It's not about how much you earn, only how much of that YOU get to keep!!👍
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How many times have we spent money on old vans that have been battered about for years before we finally get them?(usually with the best part of 100,000 miles on the clock!).I have....loads of times....
It's nice to start with a fresh new van,service it regularly and look after it...then it should last a very long time.....
It's not as black and white as that though Daz. Nobody is talking about an pld bangor with 100k on the clock. Plus a warranty direct policy is actually far better than the manufacturers one!! So, for a third of what you are paying, you could have as good a van with a better warranty! Both options are also fully tax deductable.
If you just fancy a new van then that's a different matter but from a purely business decsision then it's not so black or white. It's not about how much you earn, only how much of that YOU get to keep!!👍
True, but from a business point of view if you buy new and intend to run until it dies, you’ll get 4/5 years more out of it and hopefully those will also be the most reliable years running, if you buy on HP, loan or cash that is. Obviously a lease is different.
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if youre feeling flush you might do well to plough a few thou into reviving a tired van-so you dont look flash
i know one of the richest men in East Anglia,drives a really battered old landie-but its fitted with the latest Ford mechanics
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if youre feeling flush you might do well to plough a few thou into reviving a tired van-so you dont look flash
i know one of the richest men in East Anglia,drives a really battered old landie-but its fitted with the latest Ford mechanics
I like nice things,cars,vans,window cleaning equipment,clothes and eating out at nice restaurants as well luxury holidays....you can't take the money with you when you pop your clogs......
Spend it all now while your still alive is my motto! ;D ;D
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if youre feeling flush you might do well to plough a few thou into reviving a tired van-so you dont look flash
i know one of the richest men in East Anglia,drives a really battered old landie-but its fitted with the latest Ford mechanics
I just want a nice new van mate not a blinged up old banger.
I also want to look flash tbh
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i can understand that you want to look flash,everybody wants to look nice. and thats great if your market is purely high end youll "fit in" on a driveway with the mercs
thats reminded me , a biz near me been going 20 yrs had a 3 van set up of escort vans ,old by anyones standards but very shiny . a couple of years ago they upgraded to 3 brand new connect lwb and very smart looking. but then i notice i hardly ever see them around. a chance conversation with one of the firms ex employees tother week enlightened me "theyre in deep sh/t mate "
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i can understand that you want to look flash,everybody wants to look nice. and thats great if your market is purely high end youll "fit in" on a driveway with the mercs
thats reminded me , a biz near me been going 20 yrs had a 3 van set up of escort vans ,old by anyones standards but very shiny . a couple of years ago they upgraded to 3 brand new connect lwb and very smart looking. but then i notice i hardly ever see them around. a chance conversation with one of the firms ex employees tother week enlightened me "theyre in deep sh/t mate "
Because they got 3 new vans ???
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Bought a Renault traffic about a month ago. 17 plate pre registerd only 10 miles on the clock. Remaing 3 years on warranty. no mot for 2 years. Just under 14000 with vat. A fair amount of money but hopefully trouble free for a few years. Protecktakoted it the weekend going to have it fitted out now either waterworks or grippa not decided yet. No need for a new van I suppose but it is nice if you are in a position to have one. Family growed up and mortgage paid off so why not
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i can understand that you want to look flash,everybody wants to look nice. and thats great if your market is purely high end youll "fit in" on a driveway with the mercs
thats reminded me , a biz near me been going 20 yrs had a 3 van set up of escort vans ,old by anyones standards but very shiny . a couple of years ago they upgraded to 3 brand new connect lwb and very smart looking. but then i notice i hardly ever see them around. a chance conversation with one of the firms ex employees tother week enlightened me "theyre in deep sh/t mate "
Because they got 3 new vans ???
i dont know ,but that Could be a factor . the repayments i mean. or a drop in work for whatever reason the gamble on the new van image not working out - i dunno what 3 connects cost per month but it wont be cheap .
theres another thing to consider when buying new,what happens if a fault occurs. going back about 5yrs now i was boasting to another windie about the reliabilty of the Berlingo engine ,bloody bombproof it is mate .Well he went out and leased a brand spanker Berlingo from the dealer. After a short while something on the central locking started playing up, no prob its under warranty but youll have to leave it with us a full day . This is a real inconvenience of course. And they cant deal with your vehicle at the drop of a hat,or at your convenience- it might be next Monday . or Friday . After getting a real bellyfull of to and fro back to the dealer fixes over several months he ended up handing it back , how much it cost him lord knows- he hasnt spoke to me since
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Yes that's right even a new van can go wrong. Think they give you a courtesy van while being fixed though. Thats why I'll keep my 500 litre tank and pump box and can then transfer to courtesy van. Hope it don't come to that though.
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Daz, there’s no right or wrong way, but for me living in Essex my monthly bills aren’t cheap, and adding on £250 or more for a transit custom every month is too much for me. I could afford it, but I’d much rather that £250 go on things I want rather than a van.
It’s all dependent on your lifestyle and earnings, I’m 29, enjoy a lot of hobbies and want the money I earn to go on the things I enjoy, for me adding £250 odd a month for van would just annoy me lol!
You can afford it daz coz you live up north, have soft water and aren’t supporting a family (or are you? I’m just guessing as you said your in a flat and the girlfriend visits every now and then) 8) ;D
Imagine having a TDS of 480 and paying a huge water bill, RO’s, resin etc, you don’t know your born daz ;D
True....I'm DI only,no wife or kids,don't smoke,very rarely drink and my rent is £300 a month......my choice though....
£300 a month? You can’t rent a shed for that down here!
No wonder you can afford all those luxuries! I need to move up north! Flipping eck! I’d be rolling in it!
To put it in perspective a 2 bed house round my way is around £750 a month plus. Add on all your bills and council tax and you end up with huge outgoings.
I’d be working 3 days a week with £300 rent, fair play to you Daz. Can’t knock that, being a window cleaner up north seems like the dream!
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Daz, there’s no right or wrong way, but for me living in Essex my monthly bills aren’t cheap, and adding on £250 or more for a transit custom every month is too much for me. I could afford it, but I’d much rather that £250 go on things I want rather than a van.
It’s all dependent on your lifestyle and earnings, I’m 29, enjoy a lot of hobbies and want the money I earn to go on the things I enjoy, for me adding £250 odd a month for van would just annoy me lol!
You can afford it daz coz you live up north, have soft water and aren’t supporting a family (or are you? I’m just guessing as you said your in a flat and the girlfriend visits every now and then) 8) ;D
Imagine having a TDS of 480 and paying a huge water bill, RO’s, resin etc, you don’t know your born daz ;D
True....I'm DI only,no wife or kids,don't smoke,very rarely drink and my rent is £300 a month......my choice though....
£300 a month? You can’t rent a shed for that down here!
No wonder you can afford all those luxuries! I need to move up north! Flipping eck! I’d be rolling in it!
To put it in perspective a 2 bed house round my way is around £750 a month plus. Add on all your bills and council tax and you end up with huge outgoings.
I’d be working 3 days a week with £300 rent, fair play to you Daz. Can’t knock that, being a window cleaner up north seems like the dream!
The rents are higher than that mate where I work!!!
The trick is to live in the more affordable areas and work in the affluent areas that are virtually on your doorstep(so Minimal driving)higher prices....
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Just don’t go too far up north as in Scotland :)
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£300 a month is very nice daz
Mines not quite so good but I can't moan. We pay £550 pm for a privately rented 3 bed semi with a drive and garage.
Still it the kids that skint me.
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My outgoings for leasing my van and car come to just over £500 a month all together which is easily affordable(2 full days work a month)paying £300 a month rent....
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I used to spend at least £100 a week on cigs and booze years ago! ;D....
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Daz, there’s no right or wrong way, but for me living in Essex my monthly bills aren’t cheap, and adding on £250 or more for a transit custom every month is too much for me. I could afford it, but I’d much rather that £250 go on things I want rather than a van.
It’s all dependent on your lifestyle and earnings, I’m 29, enjoy a lot of hobbies and want the money I earn to go on the things I enjoy, for me adding £250 odd a month for van would just annoy me lol!
You can afford it daz coz you live up north, have soft water and aren’t supporting a family (or are you? I’m just guessing as you said your in a flat and the girlfriend visits every now and then) 8) ;D
Imagine having a TDS of 480 and paying a huge water bill, RO’s, resin etc, you don’t know your born daz ;D
True....I'm DI only,no wife or kids,don't smoke,very rarely drink and my rent is £300 a month......my choice though....
£300 a month? You can’t rent a shed for that down here!
No wonder you can afford all those luxuries! I need to move up north! Flipping eck! I’d be rolling in it!
To put it in perspective a 2 bed house round my way is around £750 a month plus. Add on all your bills and council tax and you end up with huge outgoings.
I’d be working 3 days a week with £300 rent, fair play to you Daz. Can’t knock that, being a window cleaner up north seems like the dream!
The rents are higher than that mate where I work!!!
The trick is to live in the more affordable areas and work in the affluent areas that are virtually on your doorstep(so Minimal driving)higher prices....
£300 /month is far from average here in the North West. 2 bed houses in not so nice areas rent for £550 - £600 here too.
Regarding the bolded bit above, personally I prefer to live in a nice area, have nice neighbours, not worry too much about things getting stolen by opportunist passing theives etc, the usual worries that people have when living in a rubbish area. I lived in one for 10 years or so and definitely wouldn’t want too again.
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Danny all the house and car thieves that live near me mate.they don't rob on their own doorstep...they travel to the nicer areas ..... ;)
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Danny all the house and car thieves that live near me mate.they don't rob on their own doorstep...they travel to the nicer areas ..... ;)
Daz I lived in a crappy area of Warrington for nearly 10 years. Constantly being wary of the scroungers and dossers gets tiring very quickly, quality of life was rubbish.
Living and owning a property now in a “affluent area” is easily the best life decision I’ve made, and my mortgage is only a couple hundred quid a month more than you pay to rent your flat, and I’ll own it outright in 20 years so payments stop altogether then.
Owning >>>>>>>> Renting
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Jeez, my mortgage is £1,700 a month. Makes me laugh when northerners get jealous of pricing down here. That said, I doubt salaries are vastly different.
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Jeez, my mortgage is £1,700 a month. Makes me laugh when northerners get jealous of pricing down here. That said, I doubt salaries are vastly different.
😱 Very few people i know up here have that sort of mortgage, mainly because mortgage companies will only lend 4 or 5x salary so you must be able to show very healthy income. I’d hate that level of debt but you’ll be laughing once it’s paid off.
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Danny all the house and car thieves that live near me mate.they don't rob on their own doorstep...they travel to the nicer areas ..... ;)
Daz I lived in a crappy area of Warrington for nearly 10 years. Constantly being wary of the scroungers and dossers gets tiring very quickly, quality of life was rubbish.
Living and owning a property now in a “affluent area” is easily the best life decision I’ve made, and my mortgage is only a couple hundred quid a month more than you pay to rent your flat, and I’ll own it outright in 20 years so payments stop altogether then.
Owning >>>>>>>> Renting
My missus lives in a nice part of Warrington so ill be sorted when her kids move out in another few years mate.... ;)
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You can rent a 4 bed detatched in Middlesbrough for about £4.75 a month . ;D
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You can rent a 4 bed detatched in Middlesbrough for about £4.75 a month . ;D
;D
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Jeez, my mortgage is £1,700 a month. Makes me laugh when northerners get jealous of pricing down here. That said, I doubt salaries are vastly different.
😱 Very few people i know up here have that sort of mortgage, mainly because mortgage companies will only lend 4 or 5x salary so you must be able to show very healthy income. I’d hate that level of debt but you’ll be laughing once it’s paid off.
But you still have to pay to live somewhere, so if you can get a mortgage it's worth it. You reduce mortgage payments overtime and if you overpay you reduce the payment time as well.
Our mortgage is £1600 a month, which is roughly what we would pay rent, so by having a plan we were able to save the deposit, stamp duty etc and when we remortgage after two years we'll be paying less per month.
It's a bit of a minefield at first especially being self employed but it makes you organised and think about things differently.
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I can't see myself ever having a mortgage, at least not anytime soon.
Not too bothered really. I'll just have to earn plenty to pay rent.
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Jeez, my mortgage is £1,700 a month. Makes me laugh when northerners get jealous of pricing down here. That said, I doubt salaries are vastly different.
😱 Very few people i know up here have that sort of mortgage, mainly because mortgage companies will only lend 4 or 5x salary so you must be able to show very healthy income. I’d hate that level of debt but you’ll be laughing once it’s paid off.
But you still have to pay to live somewhere, so if you can get a mortgage it's worth it. You reduce mortgage payments overtime and if you overpay you reduce the payment time as well.
Our mortgage is £1600 a month, which is roughly what we would pay rent, so by having a plan we were able to save the deposit, stamp duty etc and when we remortgage after two years we'll be paying less per month.
It's a bit of a minefield at first especially being self employed but it makes you organised and think about things differently.
Completely agree. There’s not many self employed window Cleaners that will be able to get a mortgage that is £1600 repayments though. Fair play to you, you must have a solid business built up (or a wife with a very good job)
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Jeez, my mortgage is £1,700 a month. Makes me laugh when northerners get jealous of pricing down here. That said, I doubt salaries are vastly different.
😱 Very few people i know up here have that sort of mortgage, mainly because mortgage companies will only lend 4 or 5x salary so you must be able to show very healthy income. I’d hate that level of debt but you’ll be laughing once it’s paid off.
But you still have to pay to live somewhere, so if you can get a mortgage it's worth it. You reduce mortgage payments overtime and if you overpay you reduce the payment time as well.
Our mortgage is £1600 a month, which is roughly what we would pay rent, so by having a plan we were able to save the deposit, stamp duty etc and when we remortgage after two years we'll be paying less per month.
It's a bit of a minefield at first especially being self employed but it makes you organised and think about things differently.
no wonder you have to charge such high prices if you live down south.thats absolutely crazy money just to pay the rent/mortgage...... ::)roll
thats £19,200 A YEAR compared to my £3,600 A YEAR.....a difference of £15,600!!that difference pays for both my van and car leases for the year,my whole years food shopping,gas and electric bills,water rates,council tax,tv licence etc and a years diesel to heat my webasto boiler! ;D
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Jeez, my mortgage is £1,700 a month. Makes me laugh when northerners get jealous of pricing down here. That said, I doubt salaries are vastly different.
😱 Very few people i know up here have that sort of mortgage, mainly because mortgage companies will only lend 4 or 5x salary so you must be able to show very healthy income. I’d hate that level of debt but you’ll be laughing once it’s paid off.
But you still have to pay to live somewhere, so if you can get a mortgage it's worth it. You reduce mortgage payments overtime and if you overpay you reduce the payment time as well.
Our mortgage is £1600 a month, which is roughly what we would pay rent, so by having a plan we were able to save the deposit, stamp duty etc and when we remortgage after two years we'll be paying less per month.
It's a bit of a minefield at first especially being self employed but it makes you organised and think about things differently.
no wonder you have to charge such high prices if you live down south.thats absolutely crazy money just to pay the rent/mortgage...... ::)roll
thats £19,200 A YEAR compared to my £3,600 A YEAR.....a difference of £15,600!!that difference pays for both my van and car leases for the year,my whole years food shopping,gas and electric bills,water rates,council tax,tv licence etc and a years diesel to heat my webasto boiler! ;D
The thing is though Daz, out of that £19,200.00 that he pays every year, I’d estimate that roughly £16,000.00 is paying off equity, therefore it is exactly the same as putting that money into the bank. The remaining £3,200.00 will be interest on the mortgage, which is a similar amount to what you pay every month in rent.
Therefore you both pay the same in interest/rent/money that you won’t ever get back. The difference is though that in 20 odd years he’ll own his £500k + house outright, and can live there for free for the rest of his days, or sell it and retire abroad, whereas you’ll be paying rent on your flat for the rest of your life.
I know which I’d rather be doing.
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Jeez, my mortgage is £1,700 a month. Makes me laugh when northerners get jealous of pricing down here. That said, I doubt salaries are vastly different.
😱 Very few people i know up here have that sort of mortgage, mainly because mortgage companies will only lend 4 or 5x salary so you must be able to show very healthy income. I’d hate that level of debt but you’ll be laughing once it’s paid off.
But you still have to pay to live somewhere, so if you can get a mortgage it's worth it. You reduce mortgage payments overtime and if you overpay you reduce the payment time as well.
Our mortgage is £1600 a month, which is roughly what we would pay rent, so by having a plan we were able to save the deposit, stamp duty etc and when we remortgage after two years we'll be paying less per month.
It's a bit of a minefield at first especially being self employed but it makes you organised and think about things differently.
no wonder you have to charge such high prices if you live down south.thats absolutely crazy money just to pay the rent/mortgage...... ::)roll
thats £19,200 A YEAR compared to my £3,600 A YEAR.....a difference of £15,600!!that difference pays for both my van and car leases for the year,my whole years food shopping,gas and electric bills,water rates,council tax,tv licence etc and a years diesel to heat my webasto boiler! ;D
The thing is though Daz, out of that £19,200.00 that he pays every year, I’d estimate that roughly £16,000.00 is paying off equity, therefore it is exactly the same as putting that money into the bank. The remaining £3,200.00 will be interest on the mortgage, which is a similar amount to what you pay every month in rent.
Therefore you both pay the same in interest/rent/money that you won’t ever get back. The difference is though that in 20 odd years he’ll own his £500k + house outright, and can live there for free for the rest of his days, or sell it and retire abroad, whereas you’ll be paying rent on your flat for the rest of your life.
I know which I’d rather be doing.
no i wont danny my brothers a millionaire mate..... ;)
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Ah, so a freeloader in waiting! ::)roll I don't have any rich family members, and don't desire to be rich. But I like to work and see the benefits from my hard work, and have a plan for the future. Each to their own mate if you can live in a council flat for £300 and get bankrolled fair play!
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Or daz could (if he was smart) take that 16k per year for 20 years and invest it into something much more profitable.
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So Dazmond . You plan on moving in with your girlfriend . I think her family might have something to say about an alcoholic , sponging , window cleaner with no assets and two vehicles on the never never . Oh nearly forgot a drum kit as well . ;) ;D ;D
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So Dazmond . You plan on moving in with your girlfriend . I think her family might have something to say about an alcoholic , sponging , window cleaner with no assets and two vehicles on the never never . Oh nearly forgot a drum kit as well . ;) ;D ;D
;D ;D ;D
shes asked me to move in with her a few times but theres no room for me at the moment(which suits me TBH!) ;)
PS.im not an alcoholic mate....or a sponger...ive always worked pal... ;)
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I know your not an alcoholic or a sponger mate . I was just trying to exaggerate the reputation window cleaners have . Good on yeh anyway low over heads and cash in your pocket . Can't fault you . Except that diesel heater . ;D enjoy the new car, you boy racer ;D