where would you guys go to look for
- Thread starter gooner59
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CTPlastering
Well-Known Member
Brand new gooner ?
Dansouthcoast84
Private Member
Auctions. Leasing companies sell off their vans after so many years or miles.blackbushe is good
TonyM
Private Member
It's true. You need a code number from the log book I think.
CTPlastering
Well-Known Member
Lease vans wont have a mot thou no need in First 3 years ..... Gd idea for older thou !
SpankySouthport
Private Member
carlos
Private Member
https://www.gov.uk/check-mot-history-vehicle
I have used this in the past when buying second hand cars. Shows all fails adviserys mileage ever year etc
I have used this in the past when buying second hand cars. Shows all fails adviserys mileage ever year etc
Arti
Well-Known Member
av bought my last couple of vans but im defo gonna lease my next un...................:RpS_thumbup:
keithuk
Private Member
Why do that Arti ,that will be an out going every month ,which does not make you money , with respect
Arti
Well-Known Member
i couldnt afford to buy a new van outright so i would have some kind of monthly payment anyway. leasing sorts ya servicing/maintenace costs and because of the depreciation of vehicles, i would get a new van after my leasing periods ends. Its swings and roundabouts with leasing and buying some good some bad, but the lads i know who lease seem happy with the deals they get. i appreciate its not for everyone
keithuk
Private Member
It would do my head in seeing that amount of money going out ever month ,come bad times which i hope you don,t get it is a big commitment , why not buy 4 year old or more then you can buy a machine and that way your earning more money . It is alot of money for something you will no own ,to look good IMO ,MATE
gooner59
Private Member
leasing attracts VAT and i'am not vat registered !!!
don't understand why lads drive around in old vans, if finances allow id be aiming at new ones.
its the main tool of your trade, you spend a good chunk of your working week in one, a good sign written one gives a good impression its the best advert for your business and new ones are under warranty and need nothing throwing at them bar the road tax., some even get free servicing.
leasing or buying ... depend really, ive done both, and I wouldn't lease again. the problem is, is plasterings a dirty trade I had problems with ours when it went back as it was knackered after the 3 years,and some have millage limits as part of the contract and id rather own something. I bought 2 new transits in late 2009 and got them both on 0% finance so pay a chunk down then a reasonable monthly amount. ive just got rid of one and got nearly 7 grand for it I only give 12 1/2 grand new for it, so in 4 years it only cost me 5 grand or so, the lease payments would have been more than that, and I owned it.
its the main tool of your trade, you spend a good chunk of your working week in one, a good sign written one gives a good impression its the best advert for your business and new ones are under warranty and need nothing throwing at them bar the road tax., some even get free servicing.
leasing or buying ... depend really, ive done both, and I wouldn't lease again. the problem is, is plasterings a dirty trade I had problems with ours when it went back as it was knackered after the 3 years,and some have millage limits as part of the contract and id rather own something. I bought 2 new transits in late 2009 and got them both on 0% finance so pay a chunk down then a reasonable monthly amount. ive just got rid of one and got nearly 7 grand for it I only give 12 1/2 grand new for it, so in 4 years it only cost me 5 grand or so, the lease payments would have been more than that, and I owned it.
Benfield ford at leeds,
that was with a £14,000 deposit for two vans, it wasn't offered I had to negotiate with it.
lucius
Well-Known Member
Lol I wouldn't call it negotiating ide call it a row, didn't get 0% when I bought my Tranny from a ford dealer but got it down by 50% after walking out twice, salesman gets good commission on the finance that's all they are interested in, if you put a big deposit down as you did there is not much left for them to work on, the way to do it.
bubbles65
Well-Known Member
I've said that for a long time, they couldn't give a fook what you drive away just as long as they get you tied into the finance :RpS_thumbdn:
ive bought 4 new vans in six years off them, so I have a good rapport with them.
the problem with transits they sell them selves and are the market leader by 80%, so from there angle they don't need to offer incentives to shift them, lads and firms would still buy them if they started making them with 3 wheels
SpankySouthport
Private Member
:rolleyes)
BetterTAX
Member
Right! Here we are with what I hope will be a very comprehensive reply - from the MD himself :RpS_thumbsup:
"Its really down each individuals circumstance as well as personal preference.
I notice there is much discussion about finance as well, it is worth bearing in mind the interest charged on a business loan is an allowable expense against income too.
If you're vat registered and have a steady income coming in from your business, then leasing (as @ARTisan suggested) is an efficient way to do it as the 'output VAT' can be claimed back and the finance element of a hire or lease is an allowable expense, it also gives some peace of mind in terms of maintenance and having only one "known" monthly outlay to factor - in terms of vehicle costs (excepting fuel).
New purchase looks great and carries manufacturer's warranty, but as @SpankySouthport said - the vehicle losses money as soon as its first registered & driven off the forecourt, but the claimable financial element mentioned earlier still applies, but there is also the ability to claim either the running cost of the vehicle or the mileage amount (which is designed to cover those collective costs).
My personal favourite is a good quality used vehicle (check its history online as suggested by @Olican, 3-6 years old & well maintained, with good livery on it still tells the client you take pride in your work but I think it also shows you look to maintain where you can rather than replace and that you're not making too much profit from what you charge your customers
RpS_wink - Don't take offense all you flashy brand new van owners... Its not a massive outlay, you own it and it has a realisable value.
Again the claimable financial elements hold true for a used vehicle as does the ability to claim running costs or the mileage allowance.
Anyway, my point is that it all depends on your situation, your target market and which way gives you the best feeling I suppose, as they all have their merits. In terms of claiming costs or mileage allowance, if your area of work is effectively local then costs would probably be more efficient but if your mileage further afield then the allowance is going to work much better for you probably. Your accountant, tax agent or whoever does your return for you (if they have a good grasp of what your business is about) will be able to identify the most tax efficient way to make your allowable business costs work for you.
These are only my opinions and the tax guidance mentioned is based on the general rules around tax treatment of business expenses and are not to be taken as de facto, as each individual case is different."
How's that? :RpS_biggrin:
"Its really down each individuals circumstance as well as personal preference.
I notice there is much discussion about finance as well, it is worth bearing in mind the interest charged on a business loan is an allowable expense against income too.
If you're vat registered and have a steady income coming in from your business, then leasing (as @ARTisan suggested) is an efficient way to do it as the 'output VAT' can be claimed back and the finance element of a hire or lease is an allowable expense, it also gives some peace of mind in terms of maintenance and having only one "known" monthly outlay to factor - in terms of vehicle costs (excepting fuel).
New purchase looks great and carries manufacturer's warranty, but as @SpankySouthport said - the vehicle losses money as soon as its first registered & driven off the forecourt, but the claimable financial element mentioned earlier still applies, but there is also the ability to claim either the running cost of the vehicle or the mileage amount (which is designed to cover those collective costs).
My personal favourite is a good quality used vehicle (check its history online as suggested by @Olican, 3-6 years old & well maintained, with good livery on it still tells the client you take pride in your work but I think it also shows you look to maintain where you can rather than replace and that you're not making too much profit from what you charge your customers
RpS_wink - Don't take offense all you flashy brand new van owners... Its not a massive outlay, you own it and it has a realisable value.Again the claimable financial elements hold true for a used vehicle as does the ability to claim running costs or the mileage allowance.
Anyway, my point is that it all depends on your situation, your target market and which way gives you the best feeling I suppose, as they all have their merits. In terms of claiming costs or mileage allowance, if your area of work is effectively local then costs would probably be more efficient but if your mileage further afield then the allowance is going to work much better for you probably. Your accountant, tax agent or whoever does your return for you (if they have a good grasp of what your business is about) will be able to identify the most tax efficient way to make your allowable business costs work for you.
These are only my opinions and the tax guidance mentioned is based on the general rules around tax treatment of business expenses and are not to be taken as de facto, as each individual case is different."
How's that? :RpS_biggrin:
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