ARE you trying to decide whether to lease or buy your next business van? If you’re looking to cut back on the cost of business this year, your main question is obviously going to be which option is the most cost effective?

However, it’s important to look at more than just the price tag when it comes to making your decision.

Understanding your options

Both leasing and buying a business van have their own set of pros and cons. With leasing, you don’t have to come up with a lump sum and payments are split into affordable segments over a set time period. You also don’t need to worry about repairs if something goes wrong.

However, depending upon the type of lease you take out, the van will never be yours. Once you’ve come to the end of the leasing agreement, you will be left to either lease another van or you’ll need to buy one.

Buying a van on the other hand, requires an initial lump sum of money. Once that’s been paid the van is yours to do as you please and you won’t need to worry about monthly repayments. There’s also the option to save money if you buy used Citroen business vans. Dealers such as Robins & Day offer fantastic deals on used models.

Choosing the best option for your business

So, now you know more about your options, how can you decide which one is best for your business? It helps to consider the following:

  • Do you actually want to own a van?
  • Are you looking for short or long-term cost effectiveness?
  • How many miles will you be driving?

If you want to actually have something to show for your money, buying is going to be the better option. If you look at used Citroen vans, you’ll be more likely to be able to afford to buy.

You also need to factor in your current budget. If you can afford to buy that would be the best cost-saving option in the long-term. Leasing may be more affordable if you don’t have an initial lump sum of money available, but it does tend to work out more expensive than buying over time.

Finally, how many miles you plan on driving in the van is another factor to consider. Many leasing companies have a set mileage that you cannot go over. So, if your business relies heavily upon driving to meet clients and make deliveries for example, you may end up going over the mileage limit.

Overall, it’s important to consider all of the pros and cons of each option before making a decision. Buying a used Citroen business van does tend to be the best option if you can afford it, but it all depends upon your requirements.

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