Perhaps you've just started on a new business endeavour, or the new addition to your family means you can no longer fit everyone into your old faithful hatchback. Whatever the reason, buying a van is a decision which needs to be looked into carefully.
First of all, decide if you definitely need to buy one outright. Leasing will give you the choice of making small monthly payments for a fixed term, after which you can just return the van to the company leasing it, or take a new van on a new leasing agreement. If you take out a personal contract purchase you can have the option of buying it outright at the end of the term.
Once you've decided how to pay for your van, decide on the type you need. This will obviously depend on what you're going to use the van for - purely business, purely personal, or a mixture of both. Is the van going to be used for haulage, or just driving the family around? Do you need storage units in there? Do you want a 4x4, pickup, transit? All these factors need to be considered. There's no point buying a van that is larger than you actually need, or has extra features that you aren't going to use.
Size is a factor is determining fuel costs. Generally speaking, larger vans use more fuel, and they are also more difficult to manouevre. Smaller vans - microvans - are generally safer and more economical, but can be more difficult to maintain than larger vans. Do your research into reliability for several types of van before buying or leasing.
Examine the other costs involved. If you choose to buy a van outright, can you afford the repayments? If you're going to be using it for business, are your profit margins enough to cover all the costs? Look at your business mileage - many leasing companies place a restriction on this which, if exceeded, can land you with some hefty charges.
Van insurance is a must. Business use insurance policies will usually have a host of optional extras such as legal expenses cover, breakdown cover, replacement vehicle cover and glass cover. Check your policy to make sure that these are included, if you require them. Commercial van insurance tends to be a higher level of cover than personal insurance as tools and equipment need to be covered too, and therefore the costs will be higher.
The best times to buy your van are around Christmas when the showrooms are dropping prices to make sales targets, or the months coming up to new registration, which take place in September and March - dealers like to remove their excess stock to make way for vehicles carrying the new plates.
J Tillotson is an author based in the UK. Her specialist subjects are energy and efficiency, and insurance.
