Business Van Leasing Explained
Leasing a van for a business works in the same way as leasing a car for personal use. You agree to ‘rent’ the van or fleet for a fixed period, during which time you pay the same amount of money each month. At the end of the contract, you return the vehicle(s).
Read our guide to learn more about business leasing and see how it could be an affordable option for your company.
How to lease a business van?
We’ve simplified the process of leasing a business van down to six easy steps:
1: Select your business van
With so many van options available on our website, it makes sense to start narrowing down your options before requesting a quote.
Using your budget as a guideline, you can navigate our detailed website search tool to find the van that will be best suited to your business. You’ll get instant results along with a detailed breakdown of each vehicle, plus an in-depth review of how it performs out on the road.
2: Request a quote
To provide a price for your business van lease we will also need to know:
- How long you want the contract to be
- Your anticipated annual mileage
- Any added features or equipment
- If you want to include maintenance and insurance
3: Credit check
Applying for a business van lease works in the same way as requesting any other form of credit. This means having to pass a credit check to make sure you are able to comfortably afford the monthly payments. This is for the protection of our customers, as we do not want anyone to take on a business van lease that might stretch their finances to the limit.
If you’re worried about your history, read our bad credit guide to see how you can still hire a van.
4: Order confirmation
This involves finalising the order and double checking all of the details on the order form are correct before it is signed and the order is sent off to the manufacturer. Your account manager will check through the order carefully, and we also encourage all customers to do the same before accepting it. After this, the order is complete.
5: Complete the finance documents
The finance documents will be sent across via email for you to review, sign and send back to us. This will detail all of the payments involved with the business van lease, including the monthly payments and initial payment you have chosen.
6: Van delivery
Aside from selecting the van you’d like for your business, the most exciting stage is having it delivered. How long you will have to wait will depend on the availability of the van. If the van is in stock, then it can be delivered to your business in as little as 10 days.
If not, we will collect it straight from the manufacturer for you and deliver it as soon as possible. We will keep you updated about the delivery date so you can also plan when your insurance will begin. Or you can lease an insured van as part of your monthly payments. You can read more about our insurance package here.
What’s included in a business van lease?
We give you access to the latest models available on today’s market, plus you’ll get:
- Free UK mainland delivery to your door
- Road tax
- UK manufacturer’s warranty
- 12 month breakdown assistance
- Part exchange on your current vehicle
Can a new business lease a van?
Yes, the good news is that new businesses are able to apply for a van lease. This applies to:
- Sole traders
- Limited Companies
- Local businesses
- Small partnerships
- Limited Liability Partnerships
The process will follow the six steps outlined above, and depending on your credit score you may be required to supply additional information to support your application such as:
- Business bank statements for the past 3-6 months
- An opening balance sheet for the business
Benefits of leasing a van for business
Business van leasing is becoming an increasingly popular option for companies of all sizes due to the benefits it provides, including:
Affordable, fixed payments
Buying a van outright is a big financial commitment for any business and it also has a direct impact on your available cash flow. However, a business van lease is for fixed period and paying towards the new van each month for a few years is likely to be a far cheaper, more manageable option.
No depreciation costs
A new van also becomes a depreciating asset from the moment you begin to use it, which means you never recover its full value when selling some years later. But you don’t need to consider depreciation, as you’ll simply return the van at the end of your contract.
A new vehicle every few years
Lease contracts typically last between two-four years, so you can drive a new vehicle or have the latest fleet for your employees whenever you take up a new contract.
If you don’t want to waste company time searching for a good price, we’ll make it easy. Here at Leasing Options, we have a wide choice of manufacturers and models with the best value guaranteed thanks to our Price Match Promise.