[Spruce]

If you lease a van you make 36, 48 or 60 monthly payments according to the duration of the lease. After the lease period you have the option to continue leasing the van at a cost of 1monthly payment for the following 12months use and so on and so on......

You can't buy the van outright.

When you sell it you have to pay the VAT from the sale to the taxman.

Lease payments are 100% tax deductable.

Hi Wayne
They call that lease extension a peppercorn rental. Your original lease will need to be fully paid up to accommodate a peppercorn rental.
But again a peppercorn rental is not in the Finance House's interest so they will do their best to talk you out of it.
Spruce

[gary evans]

I found that by leasing the van for 3 years, then purchasing it at the end you save on the interest if you had to loan the full purchase price.

i.e.    Toyota hiace £169.00 pm 36 months = £6084
         End of lease purchase £5000 + interest £1000
         Total price ££12084

         Toyota hiace £12000 + £2500 interest = £14500

You can buy cheaper & get low finance aswell, but, i personally prefer to have the lower ammount on finance.

I currently have 3 vans + i car. 1 van & the car are on lease. You need to shop around for the best deals all the time. i nearly brought the next van cheap with low finance & it was a very good deal, but, i needed to lose one of the other vehicles first, which i didnt do in time.

Hope this helps

Gary

[billozz]

can i just make a point here,
if i am right you cannot claim all the money back and as someone has said have the vehicle for free, as i understand it, the situation is that you dont pay tax on the monthly lease ammount i.e you pay £1000 per month you would claim relief on £12000, but you would not get the whole £12000 taken off your tax bill
not sure if im right but i think this is so
Bill

[Spruce]

Hi Bill

Simply put, if your monthly income is £1500.00 (net income) and your vehicle lease is £500.00 (lose) you would pay tax on the £1000.00 that remains. You would pay tax as per the Tax formula set by Inland Revenue.

So you would still have to earn the money to pay for the van in the first place.

If your tax is 10% then your tax relief against your van is £50.00. Obviously there are many other factors to add - ie personal use etc which will also effect this amount

Spruce

[billozz]

Austin,

After checking around for a while I've found it cheaper to lease the van and the equipment separately and fit it yourself (or have someone fit it for you).

Contracthireandleasing.com do some good van deals over 4 years from £79.00 per month + vat.

You can buy a 450L basic wfp system for £695.00, or rent one from £1.80 a day from some of the bigger suppliers.

Hope this might help.

Dave.

can you tell me where you can get these at those prices either the van or the hire of the wfp kit
thanks
bill