Van leasing is a common method for businesses and individuals to acquire the use of a vehicle without having to buy it outright. It’s a form of long-term rental, which can be very cost-effective.

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What types of leases can I take advantage of?

Personal Contract Hire (PCH) is a common choice, involving fixed monthly payments for a set period with an agreed-upon mileage limit. At the end of the contract, the van is returned to the company.

Business Contract Hire (BCH) is aimed at companies. This type of lease is similar to Personal Contract Hire, but may offer additional tax benefits for business users as VAT-registered businesses can often claim back a portion of the VAT. If you require van rental Bristol, a specialist provider such as https://www.autolynecarvanrental offers a friendly, professional service.

Must I take out insurance on the vehicle?

You are generally required to ensure comprehensive insurance is in place for the leased van. It’s important to check the insurance requirements specified in your lease agreement.

What sort of monthly payments can I expect?

Monthly payments are calculated based on the van’s estimated depreciation over the lease period. The initial payment is often higher than the subsequent monthly payments. According to Fleet News, demand for car and van leasing is at a record high.

Are there any mileage limits?

You will agree to a set mileage limit at the beginning of the lease. Exceeding this limit can result in additional charges. It’s important to estimate your annual mileage accurately so you are not faced with a financial surprise.

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Is there an end-of-lease option?

At the end of the lease term, you will have the option to return the van to the company, lease a new one for continued business use, or, in some cases, purchase the van.