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Many professionals wonder about purchasing a light commercial vehicle to have as a real work horse. Travel expenses are usually a significant part of a company's expenses. You may be wondering if it is better to buy or rent. There is no easy answer to this question. You have to look at it on a case-by-case basis. However, there are a few things you can do to get you on the right track.
What are the options and criteria?
Not everyone's work situation and needs are the same, but fortunately, there are a number of different solutions out there for you:
- purchase
- long-term rental, leasing
- short-term rental
There are certain criteria that can help you to make your decision and you should ask yourself a set of questions before you come to a decision.
- Is your work seasonal or does it differ depending on the services you provide to your clients? If how often you use a LCV varies frequently, evaluate how many days you need a van and what your needs are.
- What are the traffic conditions near your business and/or your customers? Consider regulations such as LEZs and what the roads are like in some areas. An estimate of your annual mileage will also be a determining factor, as well as maintenance costs.
- Do you have any constraints in respect of volume and equipment? Don't forget that any short-term business plans will have an impact on your mobility. Investments are calculated over several years.
- What is your budget and financial situation? Your accountant or tax advisor will be able to help you to work this out so that you make the best choice in financial and tax terms.
If you are still not sure, you could go for a short-term rental. Having a few of these rentals will allow you to test out different vehicles and to analyse what it is the best option for you. You can also consult different rental websites to get the rates. Ask at the dealership and when you get the offers, compare them before you decide.
