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Business vans are considered a valuable asset of any UK based business. These vans run from go downs to airports, sea ports and clients. Business vans can be used either for cargo or passengers. When acquiring a business van, A UK based company can choose to buy or lease it. Business vans come in different sizes and shapes based on the type of their loads. Often businesses in the UK do not want to invest in buying a van on lump sum payment. It becomes difficult to draw such a heavy amount from the running business so companies use the option of leasing. You can easily acquire a van for your business on lease.
There are different types of van leasing available in the UK. Companies can choose any of these leasing methods depending on their requirements. General lease types in the UK include Standard lease, Contract hire lease and hire purchase.
Standard Leasing: This type of lease covers damages and maintenance of the van completely and does not put limit on the mileage. A business can use the van without any limitation for standard lease duration. Standard van lease however does not give van ownership to the business at the end of the tenure.
Contract Hire Leasing: This type of lease is on contract and mileage basis. The type of lease is valid for a certain mileage limit as per contract. Unlike standard lease, contract hire is not limited by time. Contract hire prohibits the business from ownership of the van at the end of the lease tenure.
Hire purchase: Hire lease is different from standard or contract hire in the sense that you obtain the ownership of the van at the end of the contract. You pay monthly installments just like contract hire but hire purchase is like actually paying off for the van. Hire purchase has larger monthly installment amounts but is suitable if you don’t want to spend more money together and still want to own the van for your business.
Duration of the lease varies between 12 months to 60 months. You can pay off more amount as down payment to reduce monthly installments. Fill out a simple form at Quote Bean and we will provide you with free quotes from top UK based van leasing companies. You can select among the companies that suits you most and get a van leasing contract for your business
There are different types of van leasing available in the UK. Companies can choose any of these leasing methods depending on their requirements. General lease types in the UK include Standard lease, Contract hire lease and hire purchase.
Standard Leasing: This type of lease covers damages and maintenance of the van completely and does not put limit on the mileage. A business can use the van without any limitation for standard lease duration. Standard van lease however does not give van ownership to the business at the end of the tenure.
Contract Hire Leasing: This type of lease is on contract and mileage basis. The type of lease is valid for a certain mileage limit as per contract. Unlike standard lease, contract hire is not limited by time. Contract hire prohibits the business from ownership of the van at the end of the lease tenure.
Hire purchase: Hire lease is different from standard or contract hire in the sense that you obtain the ownership of the van at the end of the contract. You pay monthly installments just like contract hire but hire purchase is like actually paying off for the van. Hire purchase has larger monthly installment amounts but is suitable if you don’t want to spend more money together and still want to own the van for your business.
Duration of the lease varies between 12 months to 60 months. You can pay off more amount as down payment to reduce monthly installments. Fill out a simple form at Quote Bean and we will provide you with free quotes from top UK based van leasing companies. You can select among the companies that suits you most and get a van leasing contract for your business
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