As your business grows, you may want to buy a commercial vehicle to make your tasks easier.
This guide has everything you need to know so you can make the best decision regarding your upcoming purchase.
New or Second-Hand
There are a lot of pros and cons when it comes to buying a used or new vehicle. Used vans tend to be available quickly and you can buy them from stock. If you decide to buy a new vehicle, then it can take several weeks or even months to be delivered.
You’ll probably be doing a lot of mileage in your car or van, so you must make sure you’re choosing the right transmission. Choose an option that’s environmentally friendly, and purchasing an electric vehicle would be a great option. EV chargers are accessible, and you’d be surprised at what a difference they could make to your fuel expenses.
Commercial vehicles come in every shape and size, so you must know what you’re transporting before you make that big decision. City vans tend to weigh under 2.5 tons, and they can carry around 1500 pounds. Some of the options you have here include the Peugeot Partner, the Ford Transit Courier, and the Citroen Berlingo.
For mid-sized vans, the Ford Transit is the most popular option. A large van will weigh 3.5 tons or more, with the top ones being the Mercedes Sprinter or the Volkswagen Crafter.
Your budget must take into account the size of the van you’re looking for. If you want a large van on a set budget, then you can probably get more bang for your buck by downsizing. Not every business can afford to buy a new van outright, but fortunately, there are options available for financing.
You can also explore the option of hire purchase, which is an agreement that allows you to make installment payments every month. You have the use of the vehicle but don’t own it until you make the final payment
Business contract hire is another option where you’ll rent the vehicle over the long run, and this is a very popular option for sole traders, limited companies, and partnerships. This agreement lets you rent the vehicle, and you have the option to pay monthly installments if you want. You can do this over a fixed term.
When the contract comes to an end, the vehicle goes back to the leasing provider, and you can take out a new one. This is ideal for businesses that plan to scale and grow in a short space of time.
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