Buy or Lease

[NoRush]

I am a self employed (not vat registered) doing trees and fencing with the occasional landscaping if I'm not busy which at the moment I'm buried with work. Would I be better leasing a vehicle or buying one. I'm also a trained mechanic so repairing stuff isn't a problem. The problem is finding time to fix stuff . Also what sort price would I be looking at to lease a arb truck . Any advice appreciated

[Richard 1234]

Have a look at http://www.vanarama.co.uk

I've had 2 pick ups off them.

Easy to deal with

[easy-lift guy]

No Rush, My only suggestion is continue to lease or rent until you can save enough in the process to purchase out right. Having the ability to repair your own equipment is great, however with time being the single greatest commodity with the shortest shelf life.

I believe your in a holding pattern until you can save enough to purchase and move forward. Keep busy and save for your company assets. Building equity slowly is the key to sustained growth.

easy-lift guy

[Mick Dempsey]

If you've got the work coming in, lease hire, don't save up, you're just wasting time.

[Big J]

I wouldn't lease again. I leased with Vanarama and they were crap. They washed their hands of the car (Navara) when everything started going wrong on it.

 

Best to just finance. That way the vehicle is yours and yours to make decisions about if it doesn't suit you. I would strongly advise against leasing.

[waterbuoy]

I'm with Big J on this one - if you can then buy outright (provided you know what you are looking at) - I've found that it is so much simpler in the long run as (for example) you aren't having to keep an eye on mileage etc. I've bought all my vehicles for the past 30 years - a couple on finance but mostly for folding. Cut the cloth to suit, and take your time looking for the right vehicle

[Big J]

Just think of the worst case scenario. If the vehicle is a dudd, it is much harder to get out of it with a lease. You don't own the vehicle. If you lease it through a third party like Vanarama, they are only a third party. The actual lease company is someone different. Tri party agreement (you, lease company, vehicle manufacturer). My Navara was a total pile of shite and I was not able to get rid of it within the lease period despite it visiting the dealership 29 times for repair in the first 3 years.

 

So two points:

 

1) Don't buy a Navara. They are useless.

 

2) Finance, don't lease. You retain control.

[Mick Dempsey]

I think even the word Navarra sends you over the edge Big J.

 

A bit like me and Land Rover Defender.

 

Finance wise, different strokes and all that.

[luftwaffe]

i have never leased or had finance i have always bought vehicles about 4 to fiver year old, by leasing etc you are mortgaging your future etc, by buying a good second you are having a vehicle that someone else has took the hit of loosing 60% on the cost of buying new.

[Stephen Blair]

I have a business lease on my T5 over 4 years.

More tax efficient and I pay finance on 55% of the vehicles value.