Should you require a van for your business you have many options when it comes to buying one. Many people opt to buy a commercial van outright from a dealer such as Foray Commercial Vans but many do not have the funds when starting out and seek a much more financially viable option.
One option is contract hire and depending on the companies’ size and forecasted income a business can acquire a whole fleet of commercial vans at a fraction of the immediate cost of buying.
One of the largest bonuses to commercial van contract hire is that often a maintenance package is included within the deal. Many van drivers choose this type of package due to the peace of mind they receive whilst going about their daily work activities.
When you decide to take out contract hire on a van you will first have to pay a deposit, this can often be between one and three months worth of its hire price. For a driver that has budgetary restrictions they can be assured that costs will stay the same throughout their contract agreement as long as they stay within the agreed mileage.
Many contract hire customers find that this option can be very favourable towards their business expenses as these types of rental agreements are 100% allowable against the tax of their yearly profits.
At the end of the contract term you can simply hand your van back and following an inspection by the contract company you will be free to either start a new contract or invest in something like a Ford Transit Van.