Clean It Up
UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: zesty on February 22, 2020, 11:46:40 am
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Thinking about leasing my next transit custom, my current transit custom was bought outright (second hand), but has just passed the 100k miles.
Might sell it, then lease a brand new transit custom from Vanarama. The prices seem very reasonable on the website, but in the real world, what sort of monthly payment are you making, and what’s the mileage allowance? Just want a rough idea.
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Thinking about leasing my next transit custom, my current transit custom was bought outright (second hand), but has just passed the 100k miles.
Might sell it, then lease a brand new transit custom from Vanarama. The prices seem very reasonable on the website, but in the real world, what sort of monthly payment are you making, and what’s the mileage allowance? Just want a rough idea.
Sorry can’t help with leasing info but if I were you I would be looking at taking Ford finance. Your van will probably give you the 30% deposit required to qualify for 0% finance. I know 0% finance is usually some kind of sales gimmick and you end up paying list price, but with the Custom you will get a heavy discount on the list price along with 0%.
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Thinking about leasing my next transit custom, my current transit custom was bought outright (second hand), but has just passed the 100k miles.
Might sell it, then lease a brand new transit custom from Vanarama. The prices seem very reasonable on the website, but in the real world, what sort of monthly payment are you making, and what’s the mileage allowance? Just want a rough idea.
mines a business finance lease so no set mileage and an option to pay the balloon at the end of the 5 year lease(£7k)and keep the van.
i pay £215.96 a month including VAT......if i pay the balloon at the end it will cost me over £20k......i had my van on my drive within 3 weeks of ordering it then a few weeks later they took 3 months rental as a deposit.....
what i didnt realise was they charge you VAT on the RFL....this year it was £320 for the year!had my connect for 3 years now(ive done just over 10,000 miles in it now)....
no maintenance schedule with mine...i get that done myself.....i lease both my van and car with vanarama.... :)
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I pay £249pm incl VAT for my Berlingo. 3 year lease with 15k mileage allowance. No option to buy the van outright at the end of the lease.
Road tax is included, I just need to pay for a 1st year minor service (£100) and 2nd year full service.
I like to drive a new van and the expense is tax deductible, it suits me fine.
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Interesting replies.
KS, good point, I’ll look into that as an option.
Daz, what in the world is RFL?
Thanks for info Deegee.
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Interesting replies.
KS, good point, I’ll look into that as an option.
Daz, what in the world is RFL?
Thanks for info Deegee.
RFL......road fund licence
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Interesting replies.
KS, good point, I’ll look into that as an option.
Daz, what in the world is RFL?
Thanks for info Deegee.
RFL......road fund licence
Never heard of it mate!
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I pay £280 including vat and that includes maintenance and servicing, I paid 1600 upfront it’s 3 years and 9000 a year mileage and that is for a top spec custom
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In reality after 3 years how much money have you spent including upfront payments and deductions at the end due to minor damage? Let's face it you are likely to have a few stone chips on the bumper at least.
I like the idea of it but when I ad the numbers up it puts me off up front £1,600 then £280 a month 3 years limited mileage.
I make it £11680 tax deductible I understand but then you hand the van back left with nothing and start again ???
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In reality after 3 years how much money have you spent including upfront payments and deductions at the end due to minor damage? Let's face it you are likely to have a few stone chips on the bumper at least.
I like the idea of it but when I ad the numbers up it puts me off up front £1,600 then £280 a month 3 years limited mileage.
I make it £11680 tax deductible I understand but then you hand the van back left with nothing and start again ???
I pay 0 upfront as Citroen give £500 towards the next lease for sticking with them. I just structure the lease so the upfront payment is around £500 so there’s basically no deposit to pay.
I paid a local body shop £90 to take some lights scratches and a couple pings out of it before return. The inspection picked up on a small knock in the bumper and charged I think £45 but I appeal this and havnt heard back.
£10k over 3 years is about right for what I pay and yes it’s all tax deductible.
There are definitely more cost effective ways to do this but for minimal fuss and to always have a van that’s within warranty and brand new this suits me perfect.
I do around 14k miles a year in mine so knowing my van is going to start and get me through the days work is more important to me than saving a few quid and running old vans.
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In reality after 3 years how much money have you spent including upfront payments and deductions at the end due to minor damage? Let's face it you are likely to have a few stone chips on the bumper at least.
I like the idea of it but when I ad the numbers up it puts me off up front £1,600 then £280 a month 3 years limited mileage.
I make it £11680 tax deductible I understand but then you hand the van back left with nothing and start again ???
My take on this having been in the commercial vehicle trade;
Both the motor manufacturers and finance houses love that people have become more accepting of renting or leasing a new vehicle. Once a buyer is on the leasing treadmill is more difficult to get off than to continue with a new contract and new vehicle.
A customer is less likely to finish a contract and replace their van with a used one because the future commitment is similar for both - I would rather drive the latest model than an old 5 year old van that someone else has had on lease for the same deposit and monthly repayment.
TBH a new vehicle will always depreciate not matter how its financed.
Leasing is basically financing depreciation with an interest and handling charge levied by the finance house. They also want to sell the van at the end of the contract for a profit.
One thing that's important to consider is the implications about what happens if you have to give up the contract half way through for whatever reason.
There is nothing stopping you selling a vehicle under HP finance as long as its finance 'lean' has been cleared before the vehicle is transferred to the new owner. This is usually more in your control than leasing. With leasing there will be all sorts of financial implications and financial penalties imposed that aren't in your control. This is something which is never spoken about.
Lets take Stephen Burton's van as an example. I don't know how much a top spec Custom is but lets say £20,000.
Stephen has owned his van for 6 months and now finds himself unable to work for whatever reason. To date he has paid £1600 deposit and £1680 in rental payments.
His van has 4000 miles on it and would possibly be worth £12k as a dealer buyback. (That dealer will try to put £1500 - £2000 profit onto the van when selling it to a new owner. ) Already the finance house has a shortfall of £4750 which they have to account for from the leasor. (Dealers love these situations as they become vultures and take advantage of someone else's misfortune when buying vehicles such as this.)
I used to deal with a couple of these leasing houses who had their own internal used vehicle sales departments which had their own financial targets to meet as any used vehicle dealership would have. Anyone could buy used vehicles from them and they would use their own finance house to provide finance. They made a fortune out of some vehicles.
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I had such a bad experience with a recent van it went into a garage about 5-6 times and I lost so much time and money until it was fixed then I lost all confidence in the vehicle it was a 64 plate custom so I sold it and didn’t know what to do, I was never going to pay 26,000 for a new van, ideally I want to change every 3-4, this is my first lease van and honestly it’s the best thing I have done, 11,600 is the rough cost for 3 years after claiming the vat back it’s around 9.5k so it’s £60 a week £12 a day that’s one small job to cover my van and stress free motoring, don’t get me wrong I don’t like paying out the money to not get it back but it’s just another weekly cost and let’s be honest as windows cleaners we don’t have to many over heads when your a one man band
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That van is costing you 20 k all in all did you say Daz
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Thinking about leasing my next transit custom, my current transit custom was bought outright (second hand), but has just passed the 100k miles.
Might sell it, then lease a brand new transit custom from Vanarama. The prices seem very reasonable on the website, but in the real world, what sort of monthly payment are you making, and what’s the mileage allowance? Just want a rough idea.
Transit Custom Limited.
10k per year
3 months upfront depo.
£260.00 per month inc vat
Vat reclaim £42.00
Road fund license £20.00
Cost per month £198.00 fully tax deductable.
Cheap as chips.
What don't I like?
Stripping down the van after the 3 years and making it good again.
If your putting an employee in a lease van then don't bother, they will wreck it.
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In reality after 3 years how much money have you spent including upfront payments and deductions at the end due to minor damage? Let's face it you are likely to have a few stone chips on the bumper at least.
I like the idea of it but when I ad the numbers up it puts me off up front £1,600 then £280 a month 3 years limited mileage.
I make it £11680 tax deductible I understand but then you hand the van back left with nothing and start again ???
My take on this having been in the commercial vehicle trade;
Both the motor manufacturers and finance houses love that people have become more accepting of renting or leasing a new vehicle. Once a buyer is on the leasing treadmill is more difficult to get off than to continue with a new contract and new vehicle.
A customer is less likely to finish a contract and replace their van with a used one because the future commitment is similar for both - I would rather drive the latest model than an old 5 year old van that someone else has had on lease for the same deposit and monthly repayment.
TBH a new vehicle will always depreciate not matter how its financed.
Leasing is basically financing depreciation with an interest and handling charge levied by the finance house. They also want to sell the van at the end of the contract for a profit.
One thing that's important to consider is the implications about what happens if you have to give up the contract half way through for whatever reason.
There is nothing stopping you selling a vehicle under HP finance as long as its finance 'lean' has been cleared before the vehicle is transferred to the new owner. This is usually more in your control than leasing. With leasing there will be all sorts of financial implications and financial penalties imposed that aren't in your control. This is something which is never spoken about.
Lets take Stephen Burton's van as an example. I don't know how much a top spec Custom is but lets say £20,000.
Stephen has owned his van for 6 months and now finds himself unable to work for whatever reason. To date he has paid £1600 deposit and £1680 in rental payments.
His van has 4000 miles on it and would possibly be worth £12k as a dealer buyback. (That dealer will try to put £1500 - £2000 profit onto the van when selling it to a new owner. ) Already the finance house has a shortfall of £4750 which they have to account for from the leasor. (Dealers love these situations as they become vultures and take advantage of someone else's misfortune when buying vehicles such as this.)
I used to deal with a couple of these leasing houses who had their own internal used vehicle sales departments which had their own financial targets to meet as any used vehicle dealership would have. Anyone could buy used vehicles from them and they would use their own finance house to provide finance. They made a fortune out of some vehicles.
That's why its important to take out GAP insurance on a new vehicle(at least for the first 3 years)...I always do anyway.....
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Interesting replies.
KS, good point, I’ll look into that as an option.
Daz, what in the world is RFL?
Thanks for info Deegee.
RFL......road fund licence
Never heard of it mate!
Er.......RFL.......road tax....... ::)roll ;D
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That van is costing you 20 k all in all did you say Daz
If I pay the balloon and keep it...yes(which I probably will as itll only have 15,000 miles on the clock after 5 years).itll have at least another 5 years life in it before I sell it.
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In reality after 3 years how much money have you spent including upfront payments and deductions at the end due to minor damage? Let's face it you are likely to have a few stone chips on the bumper at least.
I like the idea of it but when I ad the numbers up it puts me off up front £1,600 then £280 a month 3 years limited mileage.
I make it £11680 tax deductible I understand but then you hand the van back left with nothing and start again ???
My take on this having been in the commercial vehicle trade;
Both the motor manufacturers and finance houses love that people have become more accepting of renting or leasing a new vehicle. Once a buyer is on the leasing treadmill is more difficult to get off than to continue with a new contract and new vehicle.
A customer is less likely to finish a contract and replace their van with a used one because the future commitment is similar for both - I would rather drive the latest model than an old 5 year old van that someone else has had on lease for the same deposit and monthly repayment.
TBH a new vehicle will always depreciate not matter how its financed.
Leasing is basically financing depreciation with an interest and handling charge levied by the finance house. They also want to sell the van at the end of the contract for a profit.
One thing that's important to consider is the implications about what happens if you have to give up the contract half way through for whatever reason.
There is nothing stopping you selling a vehicle under HP finance as long as its finance 'lean' has been cleared before the vehicle is transferred to the new owner. This is usually more in your control than leasing. With leasing there will be all sorts of financial implications and financial penalties imposed that aren't in your control. This is something which is never spoken about.
Lets take Stephen Burton's van as an example. I don't know how much a top spec Custom is but lets say £20,000.
Stephen has owned his van for 6 months and now finds himself unable to work for whatever reason. To date he has paid £1600 deposit and £1680 in rental payments.
His van has 4000 miles on it and would possibly be worth £12k as a dealer buyback. (That dealer will try to put £1500 - £2000 profit onto the van when selling it to a new owner. ) Already the finance house has a shortfall of £4750 which they have to account for from the leasor. (Dealers love these situations as they become vultures and take advantage of someone else's misfortune when buying vehicles such as this.)
I used to deal with a couple of these leasing houses who had their own internal used vehicle sales departments which had their own financial targets to meet as any used vehicle dealership would have. Anyone could buy used vehicles from them and they would use their own finance house to provide finance. They made a fortune out of some vehicles.
That's why its important to take out GAP insurance on a new vehicle(at least for the first 3 years)...I always do anyway.....
Definitely right; but that only helps you in an accident.
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That van is costing you 20 k all in all did you say Daz
If I pay the balloon and keep it...yes(which I probably will as itll only have 15,000 miles on the clock after 5 years).itll have at least another 5 years life in it before I sell it.
And what you've done makes sense because you are doing minimal mileage.
But the original poster has a van that he does a fairly big annual mileage in, so the depreciation on his van will be greater than yours. Once a vehicle reaches 100k its value drops very quickly.
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Interesting replies.
KS, good point, I’ll look into that as an option.
Daz, what in the world is RFL?
Thanks for info Deegee.
RFL......road fund licence
Never heard of it mate!
Er.......RFL.......road tax....... ::)roll ;D
Ha ha!
Never heard it as RFL, I’ve always known it as car tax, or road tax.
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That van is costing you 20 k all in all did you say Daz
If I pay the balloon and keep it...yes(which I probably will as itll only have 15,000 miles on the clock after 5 years).itll have at least another 5 years life in it before I sell it.
And what you've done makes sense because you are doing minimal mileage.
But the original poster has a van that he does a fairly big annual mileage in, so the depreciation on his van will be greater than yours. Once a vehicle reaches 100k its value drops very quickly.
Ah spruce, you’re jumping the gun and bit there!
I bought my custom limited in January 2016 on 82,000 miles. It’s a 63 plate.
The guy before me did a lot of motorway miles, he sold fish out the back of it with one of those freezers built into the back.
It’s not had one single issue since I bought it. Mainly because it had an easy life selling fish and poodling up and down motorways.
So I’ve only done 22,000 miles on it since then. So my mileage is very low indeed. (We have another car)
So if I lease, I’ll only need a 8000 mile limit.
To be fair, I may buy another second hand one, but the newer facelift version 2019. It’s just they are still around 18-20k for a gooden. Mines gotta only be worth £6k odd. And I don’t want to spend out over 10K lump sum, especially as we are saving hard to move up the property ladder and rent our current house out as an investment.
So many options these days, but I’ll have a think for a while.
The other option is to just keep my van going. After all, it’s still going strong. Just kind of like the idea of getting shot of it while it’s still worth something....
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If you have a good van, known history, good condition with no issues and still going like a train, like you have, and only do 8k miles per year, then you would be mad to get rid of it IMO. You would be passing on a cracking van for the benefit of someone else then draining your own pocket to fill another's! Your current van's probably good for another Five years trouble free.
Just remember, it doesn't matter how much money you turn over, all that counts is how much of that 'you' get to keep.👍
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If you have a good van, known history, good condition with no issues and still going like a train, like you have, and only do 8k miles per year, then you would be mad to get rid of it IMO. You would be passing on a cracking van for the benefit of someone else then draining your own pocket to fill another's! Your current van's probably good for another Five years trouble free.
Just remember, it doesn't matter how much money you turn over, all that counts is how much of that 'you' get to keep.👍
That's true.
Unless you count a new van as a luxury you can afford.
Some people will save all their money, others will spend it on their hobbies or house or going out on the razz etc. Someone else may not do much of those thing but enjoy having a brand new spanking van on lease.
So yeh if you have other things you want the money for it makes sense to run an older van but if you want and can afford a new one then why not.
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What Peavey is saying is right to a point for some though,I myself keep my vans for longer than 3-4 years and don’t want the hassle of taking everything out every few years.
I do a lot of work driving so for me personally I would spend more on a van as I’m in it a lot so I would also go for one that’s got all the extras,saying that if you already got a good N I’d stick with it until the bigger bills are on the horizon.
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I don’t lease as the vans as they get beat up, we have drilled holes in the floors, fitted jet washes and other bits to them so I just hp them. I am vat registered so it makes sense to lease and pay vat each month but I would rather suck the vat up in one go at the beginning,
Renault trafic new was £18,000 with apr on figure left after deposit I think am paying a few hundred over £20,000 repayments are £311 pm
2 x Peugeot partner vans same set up as trafic same deal with vat up front, on one I pay £340 pm and on other I pay £250 pm,
But that’s due to a year longer on the second Peugeot.
Once the vans are paid for an I hope to run them for approx 3 years after finance settled.
Why didn’t I lease .... we cover the whole north west and do a fair bit of miles the lads can take the vans home and use them out of work if they choose so mileage can be very high with an excess plus buy the time we would return them I reckon it would cost me more in settlement down to knocks and bashes.
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That van is costing you 20 k all in all did you say Daz
If I pay the balloon and keep it...yes(which I probably will as itll only have 15,000 miles on the clock after 5 years).itll have at least another 5 years life in it before I sell it.
I remember at the time thinking that you had paid through the nose for your new connect and now going by your figures you're not even paying the new price never mind any added interest, could you give me the name off your dealer as I want to get in on this before they go out of business. lol
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we are saving hard to move up the property ladder and rent our current house out as an investment.
Are you a sole trader?
If so, sack buying a new van off and keep the one you have. The credit will count against you when going for your mortgage and you can put the money you’d save towards the house.
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we are saving hard to move up the property ladder and rent our current house out as an investment.
Are you a sole trader?
If so, sack buying a new van off and keep the one you have. The credit will count against you when going for your mortgage and you can put the money you’d save towards the house.
True.
To be honest, it’s a bit of wanting a new van that’s had me interested.
I think I will hang onto it another couple of years. Once we’ve moved house, I will possibly treat myself to a new van.
One of the lures of leasing was putting the full monthly payment through the books, reducing my tax bill. As the current van is an asset, its only the diesel and maintenance that’s helping with reducing the tax.
Yes sole trader, with a couple of sub contractors for bigger jobs.
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In reality after 3 years how much money have you spent including upfront payments and deductions at the end due to minor damage? Let's face it you are likely to have a few stone chips on the bumper at least.
I like the idea of it but when I ad the numbers up it puts me off up front £1,600 then £280 a month 3 years limited mileage.
I make it £11680 tax deductible I understand but then you hand the van back left with nothing and start again ???
Ive had two vans over the years with Vanarama, both i supposedly had to hand back, (inspections etc)
The first i paid the balloon and through some mucking about i didnt actually own it at all but found a buyer and ended up with £500 in my pocket even after paying the balloon.
The transit custom i have now i had on 4 years lease, i paid the balloon and sold it to a friend who 'owned' it for 24 hours then sold it to me.
I'll have it until retirement now (3 years off)
Its done 55000 miles
I did it this way as i didn't know what i would do at the end of each lease (keep or sell)
Depends on circumstances, but there's always a way around handing it back and getting hammered on repairs.
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we are saving hard to move up the property ladder and rent our current house out as an investment.
Are you a sole trader?
If so, sack buying a new van off and keep the one you have. The credit will count against you when going for your mortgage and you can put the money you’d save towards the house.
True.
To be honest, it’s a bit of wanting a new van that’s had me interested.
I think I will hang onto it another couple of years. Once we’ve moved house, I will possibly treat myself to a new van.
One of the lures of leasing was putting the full monthly payment through the books, reducing my tax bill. As the current van is an asset, its only the diesel and maintenance that’s helping with reducing the tax.
Yes sole trader, with a couple of sub contractors for bigger jobs.
Why do so many make this mistake, buying stuff that you don't need means you lose a pound instead of 30p, saving on tax is handy when you need to buy but should never even be considered as a reason to buy.
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Didn’t anyone get a business loan this is what I did you can pay it back over the term you want,no balloons etc if I sell my van now I’ll have best part of 7-10 grand towards another.
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Didn’t anyone get a business loan this is what I did you can pay it back over the term you want,no balloons etc if I sell my van now I’ll have best part of 7-10 grand towards another.
There's no real difference, balloon payments just keep your monthly payments lower so the money you have tied up in your van wont have been paid by the guys handing theirs back.
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we are saving hard to move up the property ladder and rent our current house out as an investment.
Are you a sole trader?
If so, sack buying a new van off and keep the one you have. The credit will count against you when going for your mortgage and you can put the money you’d save towards the house.
True.
To be honest, it’s a bit of wanting a new van that’s had me interested.
I think I will hang onto it another couple of years. Once we’ve moved house, I will possibly treat myself to a new van.
One of the lures of leasing was putting the full monthly payment through the books, reducing my tax bill. As the current van is an asset, its only the diesel and maintenance that’s helping with reducing the tax.
Yes sole trader, with a couple of sub contractors for bigger jobs.
Why do so many make this mistake, buying stuff that you don't need means you lose a pound instead of 30p, saving on tax is handy when you need to buy but should never even be considered as a reason to buy.
It’s not only about bringing the profit down to save on tax, it’s about having a brand new van.
Mine is on 104,000 miles, and yes, whilst it’ll probably do 200,000 with relative ease, it’ll then be worth nothing, meaning having to fork out a lot for a new van.
Also, it’s nice to have a new van, no hassle, good business image, and nice to be in.
My thoughts were to sell my current van, have a small lump sum to play with, but lease a new van so as not to spend all the money made on the old van. That way there is some spare cash to bank, or invest elsewhere.
There are so many options, I’ve never leased before, own a van outright, so in a healthy position.
For me, I’m turning over a fair wack, so to reduce it somewhat to save some tax and have a nice new van makes sense.
Anyway, the current thought is to keep the van a bit longer and see where we are house wise in the next year.
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Didn’t anyone get a business loan this is what I did you can pay it back over the term you want,no balloons etc if I sell my van now I’ll have best part of 7-10 grand towards another.
No because business loans are generally more expensive than personal loans.
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I don’t think it’s a lot more of any I can’t remember off the top of my head but it was no more than around 4%,as some ha e said although you may get offered 0% the price is inflated before hand.
I certainly would t want to be paying 20k for a connect.
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That van is costing you 20 k all in all did you say Daz
If I pay the balloon and keep it...yes(which I probably will as itll only have 15,000 miles on the clock after 5 years).itll have at least another 5 years life in it before I sell it.
I remember at the time thinking that you had paid through the nose for your new connect and now going by your figures you're not even paying the new price never mind any added interest, could you give me the name off your dealer as I want to get in on this before they go out of business. lol
Remember it’s a Connect that Daz has Sean, they can be had today for around 18.5K inc VAT, three years ago prob around 17.5K.
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I don’t think it’s a lot more of any I can’t remember off the top of my head but it was no more than around 4%,as some ha e said although you may get offered 0% the price is inflated before hand.
I certainly would t want to be paying 20k for a connect.
Not always, I got £7700 off list price and 0%, that was for a Custom Sport tho which are expensive to start with, so more room for the dealer to work with.
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https://www.autotrader.co.uk/classified/advert/202002077065302?model=TRANSIT%20CONNECT&radius=1500&make=FORD&colour=White&advertising-location=at_vans&body-type=Panel%20Van&onesearchad=Used&onesearchad=Nearly%20New&onesearchad=New&sort=mileage&postcode=ng125nx&page=1
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we are saving hard to move up the property ladder and rent our current house out as an investment.
Are you a sole trader?
If so, sack buying a new van off and keep the one you have. The credit will count against you when going for your mortgage and you can put the money you’d save towards the house.
True.
To be honest, it’s a bit of wanting a new van that’s had me interested.
I think I will hang onto it another couple of years. Once we’ve moved house, I will possibly treat myself to a new van.
One of the lures of leasing was putting the full monthly payment through the books, reducing my tax bill. As the current van is an asset, its only the diesel and maintenance that’s helping with reducing the tax.
Yes sole trader, with a couple of sub contractors for bigger jobs.
Why do so many make this mistake, buying stuff that you don't need means you lose a pound instead of 30p, saving on tax is handy when you need to buy but should never even be considered as a reason to buy.
It’s not only about bringing the profit down to save on tax, it’s about having a brand new van.
Mine is on 104,000 miles, and yes, whilst it’ll probably do 200,000 with relative ease, it’ll then be worth nothing, meaning having to fork out a lot for a new van.
Also, it’s nice to have a new van, no hassle, good business image, and nice to be in.
My thoughts were to sell my current van, have a small lump sum to play with, but lease a new van so as not to spend all the money made on the old van. That way there is some spare cash to bank, or invest elsewhere.
There are so many options, I’ve never leased before, own a van outright, so in a healthy position.
For me, I’m turning over a fair wack, so to reduce it somewhat to save some tax and have a nice new van makes sense.
Anyway, the current thought is to keep the van a bit longer and see where we are house wise in the next year.
I think you are looking at it the wrong way.
If you keep your current van another 3 years you are likely to lose less in depreciation than on a newer van over 3 years.
As you only do 8k a year, if your van is in good condition and you look after it it should last years. I do a similar mileage to you and bought my van new 14 years ago (now has 120k on clock), it might even last me until I retire (possibly in 3 years).
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How much was that custom sport with the 7 k off and incl vat then.
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https://www.autotrader.co.uk/classified/advert/202002077065302?model=TRANSIT%20CONNECT&radius=1500&make=FORD&colour=White&advertising-location=at_vans&body-type=Panel%20Van&onesearchad=Used&onesearchad=Nearly%20New&onesearchad=New&sort=mileage&postcode=ng125nx&page=1
That's 17k including VAT.....also it's not the same model as mine......
Mines a connect L2 240 limited(120ps).....so higher spec(including heated drivers seat),higher payload and more powerful engine......
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That’s a hell of a lot of money for a connect Daz
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That’s a hell of a lot of money for a connect Daz
It's nowhere near as much as a vw van though.....I love mine....plus it will still sell at a reasonable price even at 10 years old with 30k on the clock.......
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How much was that custom sport with the 7 k off and incl vat then.
Just over 30K, it’s an auto so about 1.5K more to buy than the manual version.
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My last van a Transit Custom Limited 310 I bought brand new in March 2015 for £20 000, I sold it to Webuyanycar in April 2019 for £12 750 with 22 000 miles on it. So only £7250 depreciation in 4 years!!...I suspect I have lost that already on my new one😆
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Im late to this thread n suppose i best back read soon, but isnt it easier to shop around for a loan and then buy the van out right. No additional fees to worry about and your on fixed repayments and the van is yours from day 1?
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Iv read somewhere that it’s best to lease something that depreciates and own something the increases in value!
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Do you guys really take out the entire system every 3 years or so? If it's just strapped in I can understand. But mine's a grippamax and bit of a faff.
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Bit of a faf,my thoughts exactly.
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Do you guys really take out the entire system every 3 years or so? If it's just strapped in I can understand. But mine's a grippamax and bit of a faff.
its doable though......more of a faff id expect if you have a diesel hot water system fitted.
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Hi everyone, I don't want to hijack the thread but how do lease companies deal with bolting water tanks to the floors of they're vans? Are there companies that don't have a problem with this etc? cheers.
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Hi everyone, I don't want to hijack the thread but how do lease companies deal with bolting water tanks to the floors of they're vans? Are there companies that don't have a problem with this etc? cheers.
you dont need to tell them...they dont care what you do to the vehicle....all you have to do at the end of the lease is put rubber bungs in the drilled holes in the floor and hand it back or use rachet straps through the eyelets.
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Yes they do some companies have restrictions on what you can do to the van.
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From experience they look over the outside of the van very closely looking for damage and barely even look at the inside of the van. I just replace the ply lining which covers the drilled holes.
They literally just have a very quick look inside the rear.
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Im late to this thread n suppose i best back read soon, but isnt it easier to shop around for a loan and then buy the van out right. No additional fees to worry about and your on fixed repayments and the van is yours from day 1?
I have always done that in the past, but if the vehicle is just bought on a loan, then if there is a major problem with it, you can’t get a finance company involved to settle any dispute with the dealer. This I found out to my expense 2 years ago when I bought my last van. So this time I am buying on finance hp with a remainder of manufacturer’s warranty., I haven’t ,finished the loan on the other van yet, but will be receiving a small inheritance later this year, so will pay everything off in full once it comes through.
As for leasing, I was going to go this route but was put off by others who said the same as an earlier poster did, if you cease trading or can’t work, you can return the vehicle, but still have to make the payments for the remaining duration of the contract term, or pay the balance off in full.
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Im late to this thread n suppose i best back read soon, but isnt it easier to shop around for a loan and then buy the van out right. No additional fees to worry about and your on fixed repayments and the van is yours from day 1?
I have always done that in the past, but if the vehicle is just bought on a loan, then if there is a major problem with it, you can’t get a finance company involved to settle any dispute with the dealer. This I found out to my expense 2 years ago when I bought my last van. So this time I am buying on finance hp with a remainder of manufacturer’s warranty., I haven’t ,finished the loan on the other van yet, but will be receiving a small inheritance later this year, so will pay everything off in full once it comes through.
As for leasing, I was going to go this route but was put off by others who said the same as an earlier poster did, if you cease trading or can’t work, you can return the vehicle, but still have to make the payments for the remaining duration of the contract term, or pay the balance off in full.
If you are buying a used van on H.P be very watchful of the interest rate. You are probably looking at around 10% which is a total rip off when interest rates are so low. A personal loan in comparison would be around 3%. As for any major problems, that would be covered by the remaining manufacturers warranty ( as long as the van has a FSH )
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Getting it for 8%. Personal loan cheaper yes, but takes longer to sort. Having said that I may enquire with current lender what the chances would be of getting a replacement loan.
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Im late to this thread n suppose i best back read soon, but isnt it easier to shop around for a loan and then buy the van out right. No additional fees to worry about and your on fixed repayments and the van is yours from day 1?
I have always done that in the past, but if the vehicle is just bought on a loan, then if there is a major problem with it, you can’t get a finance company involved to settle any dispute with the dealer. This I found out to my expense 2 years ago when I bought my last van. So this time I am buying on finance hp with a remainder of manufacturer’s warranty., I haven’t ,finished the loan on the other van yet, but will be receiving a small inheritance later this year, so will pay everything off in full once it comes through.
As for leasing, I was going to go this route but was put off by others who said the same as an earlier poster did, if you cease trading or can’t work, you can return the vehicle, but still have to make the payments for the remaining duration of the contract term, or pay the balance off in full.
If you are buying a used van on H.P be very watchful of the interest rate. You are probably looking at around 10% which is a total rip off when interest rates are so low. A personal loan in comparison would be around 3%. As for any major problems, that would be covered by the remaining manufacturers warranty ( as long as the van has a FSH )
KS Good call, I just looked into getting a loan to pay off existing one and pay for new van, over 5 years its only 23 quid a month more than the finance payment alone.No brainer.