If you have decided that you would rather own a van as opposed to leasing one then you will need to decide whether you prefer to purchase a used one or a new van. So, what sorts of things do you need to consider before deciding which to invest your money in?
Well, there is no doubt that the purchase price of a new van is going to be greater than that of a used van of the same make and model. So, you will need to decide if the initial outlay is worth it as far as a new van is concerned. Also, the greater the purchase price the more likely you will require finance to buy the vehicle whereas if you bought a used van you may be able to buy the vehicle without needing to borrow any money thus saving interest charges.
If you buy a new van then it will not come as a surprise to read that the initial depreciation in value is going to be greater than if you bought a second hand one. In fact, the depreciation figure in the first year of owning a new van may run into several thousand pounds.
A new van is likely to be more reliable than a used van as it is less likely to break down. As a result, the maintenance costs may well be less for a new van than a used one.
Your new van may include a servicing package where you get free servicing for say a year or two whereas it is more likely that you will have to pay for any servicing that is required if you own a used van This could add up to a significant saving thus increasing the profitability of your business.
Have you considered how your potential customers view your business? For instance, if you are driving around in a brand new van then does this create a better impression with potential customers than if you were driving about in a ten year old rusty van? So, could a new van generate you more new customers thus increasing the profitability of your business that outweighs the additional initial outlay a new van usually involves?
A new van is more likely to have more mod cons than a used van such as a sat-nav and may have more security devices fitted such as an alarm or engine immobilizer.
We hope that the above is of use in helping you reach a decision as to whether a new or used van is the best choice.