Merry Christmas everyone.
Unfortunately my van looks done.
Been told by RAC man cambelt snapped and most likely a write off😢
Looking at vanarama contract finance 5 yr deal all in £192 a month. Just diesel and insurance needed apparently, everything else catered for.
Other option is finance lease not sure now if same care package but first years road tax included.
Then sell van after 5 years privately and give vanarama £3250 any profit made is mine.
Looking at the citoren berlingo 75bhp bulkhead and rook rack included.
Has sat nav and i think parking sensors etc.
What do you guys go for contract or finance leasing?
Only thing putting me off contract leaseing is how tough they could be hitting me with a bill at end of contract regarding van condition.
What's your thoughts to those who lease.
Many thanks lee.
My question to you is why you want to lease a van anyway.
Why not do a simple HP knowing the van is yours to do whatever you want with once the contract is finished.
You really have got to look at the details of each scheme. You need to find out who owns the vehicle at the end of the lease. Can you keep it? Does it become yours? Selling a 5 year old van for more than £3250 could be a big risk, especially if you need extra for the next initial payment on a new van. (Is that £3250 + VAT. Sometimes smooth talking sales people forget to make things 100% clear. The other thing is you can easily get emotionally involved in wanting a new van that the important detail is missed.)
We don't know what the future of diesel vehicles will be value wise in 5 years. Whilst the Budget has said business is as usual with vans, things can quickly change driven by public opinion and pressure groups.
Having worked in business van sales to the industry, leasing or contract hiring a van is mainly done by big business. It usually means that they put down a small payment up front and then pay a month rental, all prices quoted will be plus VAT. With contract hire the vehicle is an expense but isn't an asset on the books of the business. Having equipment on contract hire makes the business look better, especially those listed on the stock exchange.
If you think that it will be easier to lease a van because of a poor credit rating, you need to rethink that. Finance houses are stricter than with HP as they have more to loose, especially at the beginning.
A maintenance contract is extra and is generally a good profit maker for the finance house. Some packages also include fair wear and tear tyres, but you are paying for the privilege of peace of mind motoring.
You can take out a separate maintenance contract with any new or nearly new vehicle even if you paid cash for it. Finance house love is value added extra - value added for them and extra commission for the saleman that is.
A new van will be under warranty for the first year. Then Citroen offer a dealer extended warranty for the next 2 years which means that cover is limited. Running costs aren't high in the first couple of years of the vans life. People start to get needlessly worried and apprehensive when the first MOT is due.
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