To lease or to buy? Doubt arises when you are about to lease a van. These days leasing a van has become popular than before. All thanks to the thousands of van dealers who rely heavily on their prearrangements with their preferred banks and other financial institutions.
Let us briefly look at some of the benefits of van leasing and the current advancements in this sector.
- You get to drive the latest model van of your choice.
- You have the option of returning the currently leased vehicle after a fixed period of years back to the leasing company and you get to lease a new vehicle if needed.
- Driving the latest model vehicle gives you a chance to test the newest features and technologies introduced by the automobile industry hence you are updated with the current trends.
- You get attractive low rates to buy a new van and rather than going for high priced vans, if you opt for less expensive ones, then you get to pay lower monthly installments thus saving up on your budget.
- You don’t need to worry about maintenance costs. Since the vehicle leased is new, chances of high end maintenances are relatively low unless you meet with an accident. Moreover, some of the basic maintenance works are covered by the leasing company itself after a fixed period of time. Hence, you are free of financial worries regarding maintenance for the time being.
- For some of the working class, if their employer allows, van leasing is a means of tax savings, subject to certain conditions laid down by their organization. Moreover, businessmen get to write-off their taxes under business expenses to obtain their vehicles rather than those who purchase vans for personal uses. My boss leased a van for his business here.
- With the increasing fuel prices, it is a good option to lease high-mileage vehicles which are often more expensive than the others, thus saving on fuel costs.
These should give you a good sense of whether or not to lease your vehicle.