[Pittmonkey]

Just completed my first year and all is good. My first tax return is in and don't envisage coughing up too much due to the money I have invested over the year. So next year I don't plan on spending nowhere near the same amount and therefore the Tax man will be getting his fair share.

So is this where Van leasing comes in?

If it cost around £2400 + Vat PA is all this claimed back.

This year I've spent nearly £1500 pounds on repairs and maintenance on my van. Not including diesel, Ins & Tax and the outlay for the Van £2500.

So just wondering is this the smart time to lease.

Wayne

[AJ]

it depends on your mileage, most will allow you 10k per year at the price they advertise and will charge you heavily at the end of the contract if you go over, but with it being 100% tax deductable, no road tax to buy, 3 yrs warranty, new van reliability and the image a new vehicle gives, it is defo worth it.

[chrismroberts]

How do the leasing companies feel about bolting in tanks, protecta coating, sign writing etc?

[jaykie]

Sign writting is fine as my brother inlaw is manager of hendy hire and tried getting me to lease from him, the rest i dont know but could find out.
Chris

[Pittmonkey]

I don't think the sign writing or Floor coating would be a problem but as for leaving holes in the floor where the tanks been fitted may cause some problems. Be interesting to know.

Mileage, I wouldn't think I would hit the 10k but you never know.

Been looking at this BTW 1200 payload 2.0 ltr Scudo/Dispatch/Expert

http://www.vansdirect.co.uk/vandetail.asp?vlink=214

Anyone else with some pro's & cons of leasing?

Thanks
Wayne

[jaykie]

ill ask my brother in law how it stands and ill get back to you, do you have a hendy hire in your town as he normaly beats any quotes.

Chris

[jaykie]

Just spoke to him and you cant water proof or put holes in chacet.

Chris

[Pittmonkey]

Cheers jaykie.

There are different ways to lease, Finance, Contract, or HP. Would he know if it affects all types of Lease/finance contract.

Never heard of Hendy Hire just doing a search.

Wayne

P.S Your system and van look great BTW.

[ronnie paton]

has along has its done proffesionalally(the water tank) some companys are fine but not all.

[jaykie]

He said your better of going direct to Fiat. And cheers about comment on van, well chuffed with it.

Chris

[Stevie G]

wayne are you vat reg.

[Pittmonkey]

No not Vat reg Stevie is it more benificial to be vat reg if leasing?

(Sorry about the result today)

Cheers Ronnie, it's on the list of questions I have if I speak to a Lease Co.

Wayne

[Kev R]

I have just got a new van from Varitech on lease. The supply the van the floor coating the system or just the van if you like. No restrictions and a good monthly price too.

[williamx]

You can claim all the leasing charges back and you can also claim the vat back if you are vat registered, if you are not then you lose this.

The main problem with leasing is the balloon payment at the end of the contract, this can run into thousands so beware.

You could try instead Contract Hire, the deposit is normally cheaper and there is no balloon payment at the end of the contract, all you do is either hand the keys back or order another new van.

As for having the water tank bolted into the cab, this varies with each leasing firm, you will need to check, also make them put this in the contract in case of any disputes at the end of your contract.

[AJ]

our contracts have always said that any holes in the floor must be filled with a rubber gromet when returned. Don,t know about holes in the side for filling etc but they're really a MUST are they.

[Stevie G]

No not Vat reg Stevie is it more benificial to be vat reg if leasing?

(Sorry about the result today)

Cheers Ronnie, it's on the list of questions I have if I speak to a Lease Co.

Wayne

nice one wayne just checked your location if your a fan well done.
that's reason i asked about the vat. obviously it's dead money
if not reg. i looked a one the other day for about £4k intrest  and vat
about £1800 so ill save it up and buy cash there's plenty about
with no vat.

[macmac]

Pittmonkey

Just incase you're not sure of this e.g.

If you spend 2800 inc vat on van lease payments in a year, this 2800 is tax deductible- it's taken off your gross & thus means you pay no tax on it. It doesn't mean you can in any way claim 2800 back from anywhere. So, on these figures you would approx save (@ 20% tax 08/09) 560 quid in tax. Not trying to tell you how to suck eggs, but best to be sure.

Tony

[Sir Squeaky]

The main problem with leasing is the balloon payment at the end of the contract, this can run into thousands so beware.

It's no problem at all, you either sell the van and pay it, or get another new one and carry on.

I've got a balloon payment of £4900, but when that's due my van will be worth £5,500-£6000.

If I do it after 3 years instead of 4 it'll be £7000.
Van will be worth about £7500-£8000.

Don't worry about balloon payments! 

[williamx]

The problem with a balloon payment is if you really wanted the vechicle, the van might be worth less than the balloon payment.

[Londoner]

Check out the deals being done by main agents first before you decide. Having had a lease vehicle for past 3 years I am not a fan of vehicle leasing.
My present van (Pug Partner)  was bought new in December and they gave me a massive £3,800 "fleet discount" plus metallic paint, aircon, CD player, side door, roof rack and towbar all thrown in.
It  costs me just over £35 a week but in five years its mine. Thats roughly what I would be paying to lease a basic model of the same van but in three years I would have to give it back and get nothing.

Lease vehicles are usually basic models with no extras and if you go to the grey import suppliers you don't always get much choice. Its what they have in stock and thats it. Also the grey importers were actually dearer for my van than the main agent I bought from.

When you lease a vehicle its all smiles and everything is wonderful. When its time to hand it back you get a letter telling you they want to inspect the vehicle and are going to charge you for every little mark and scratch - inside and out.

Before my inspection a friend recommended that I went to a body shop called Little Knocks in Harefield that just specialises in doing pre inspection repairs on leased company cars. I ended up having several hundred pounds worth of work done repairing a couple of scrapes.

A guy I know who is a chauffeur was surcharged £600 by BMW for a stone chip on his otherwise pristine car when he returned it.

Leasing is not all its cracked up to be in my opinion