THE MAGAZINE FOR THE DRAINAGE, WATER & WASTEWATER INDUSTRIES
MAIN FEATURE
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and you will be charged for anything considered to be outside the fair wear and tear guidelines. The leasing company should provide you with a copy of this standard at the start of the lease and prior to collection. If not, you can search for guidance on the BVRLA website. But every agreement is different, so you really need to make sure that you know what the terms in the agreement are before you sign.”
Chris Fitzsimmons adds, “The central pitfalls with managing a fleet are always upfront costs and those unforeseen at the end of an agreement. You don’t want to be surprised when there’s a big payment due at the end, van damage to deal with, and potentially excess mileage. If you bear these things in mind, leasing allows us to have a more resilient fleet that’s responsive to our business needs but with controls in place to manage costs and protect our P&L.”
FOLLOW US Hire Purchase
The last option, Hire Purchase, is an agreement where you borrow the money to purchase a van, and then pay it back in monthly instalments. It’s very flexible – the deposit and the length of the agreement can all be set to meet your budget. A deposit is optional and can be paid in cash or by trading in an existing van. There are no mileage restrictions.
You’ll be able to drive away a van that you may not have managed to buy outright. Once you’ve made your final monthly payment, including the option to purchase fee, you'll have full ownership.
However, as the aim is to own the van at the end, monthly payments may be higher than some other finance options, as you're paying off the full value of the van plus interest. You also won’t be able to sell the van without settling any outstanding finance.
When it comes to drainage van rental, we’ve seen
growing popularity for our service since we launched it three years ago.”
Drainage Van Rental
As well as buying, there is also the option to rent. There are many reasons why a business would choose to do this, from filling a gap due to a current van being in repair, right through to responding to an upturn in business without the large capital outlay or restricted van availability.
“When it comes to drainage van rental, we’ve seen growing popularity for our service since we launched it three years ago,” comments Jason Ahmet at Capital Fleet Solutions. “Whatever the reason, short and long-term rentals are a good way to bridge a gap. The benefit being that they are available at short notice and the rental agreements are simple so you can continue supporting your customers with little or no disruption. If you’re thinking of renting a van for a longer-term period (as in over a year), many companies will now brand the vehicle for you as well.”
June 2024 | 11
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