What van deal and insurance.

[Aqua]

My business partner and i are starting our Ltd company in September and are looking at vans and the various insurance etc.

The van is going to be a 3.5 tonne panel van, maybe a Vauxhall Movano or similar.

The van will probably be lease hire, so maybe the insurance will be included. That said it may be cheaper to shop around, i don't know.

Or we could look at purchase of the van, but it would have to be 0% finance over 3 years as cash flow is important to us at the start.

I would appreciate any thoughts on lease/buying of a van

Now a problem exists, my business partner has been a naughty boy and just got his licence back after speed camera toting up (6 month ban) so that is going to push the insurance up.

With insurance i would appreciate a recommendation of an insurance broker who deals with business vans/zero no claims discount (as new business) and the above mentioned licence problem.

All help appreciated.

 

[Thermo]

er try looking at the thread below!

 

[Aqua]

er try looking at the thread below!

er, with respect.

I'm not asking what type of van to get, i know that bit already. Having spent 15 years driving them !!!!!!

Lease or buy & insurance is the question

 

[gas4you]

Depends whether you want the van as an asset on your books or not.

leasing/contract hire is 100% tax deductable, purchase isn't.

For van insurance I have gone with www.evaninsurance.co.uk this year. Couldn't believe the prices!

 

[Thermo]

er try looking at the thread below!

er, with respect.

I'm not asking what type of van to get, i know that bit already. Having spent 15 years driving them !!!!!!

Lease or buy & insurance is the question

i know but thats already been discussed on that thread as well!

 

[Aqua]

Lease appears to be the way to go, i didn't really think buying was the right choice at this stage.

I will be checking that insurance out.

Thanks for that Dave.

 

[Aqua]

er try looking at the thread below!

er, with respect.

I'm not asking what type of van to get, i know that bit already. Having spent 15 years driving them !!!!!!

Lease or buy & insurance is the question

i know but thats already been discussed on that thread as well!

Having re-read it you are right, some aspects of my question's have been discussed there

 

[Thermo]

no problem, definetly contract hire. Are you going to be vat registered as well?

 

[Aqua]

Thermo,

Yes, we will be VAT registered from the start.

We intend to grow quite quickly and may have 4-5 vehicles on the road within a couple of years.

I have been thinking about a fleet insurance, although that may be a bit to far at this stage ?

I have got a quote from www.evaninsurance.co.uk (dave ) that comes out at £650'ish for me only.

Add my speedy partner and the quote more than doubles.

Although back to lease hire, does that usually come with insurance as part of the deal ?

Please excuse my ignorance on these matters, having spent my life as an employee the move to company owner brings with it alot of questions, as i suspect most of you have found out.

 

[Thermo]

ah yes its a very big learning curve. You need to be sure exactly what type of finance deal you are going for. When you say lease i suspect you mean contract hire. You usuaully pay an initial deposit of 3 months hire. You then pay a monthly payment for the period of the hire, normally 3 years. After that you hand the van back and start again. You normally agree an annual mileage with a penalty if you go over that mileage (normally about so many pence per mile). You can do what you want with the van eg sign write it etc, but you must adhere to the service intervals etc.

It is the most tax efficent way as since you dont own the van, you are merely hiring it you can claim the full payment including the full vat back. Thyere is no depreciation allowances etc to worry about.

They normally include the manufacturers warranty, obviously no mot to worry about and road tax. Insurance is not included, but shop around. As it is a new van it should be fairly cheap to insure (daft as it sounds) as parts are cheap etc etc.

 

[Aqua]

Thanks Thermo,

Yes i agree, contract hire is the one i'm thinking of.

We will be clocking in the order of 25k a year, i remember my previous employer's getting their fingers burnt by under estimating the annual milage.

Not a mistake i intend to make.

 

[corgiman]

Thanks Thermo,

Yes i agree, contract hire is the one i'm thinking of.

We will be clocking in the order of 25k a year, i remember my previous employer's getting their fingers burnt by under estimating the annual milage.

Not a mistake i intend to make.

I think my Guv got a new dispatch for about 300 plus VAT PM including servicing tyres tax etc on 25k PA

they are a nice size van, not as big as a traffic/primastar but not far off a transporter

and they seem to be a lot cheaper to run

 

[Thermo]

look around on the net first and push a local dealer. we got the primastar with ply lining for 200 + vat per month

 

[Aqua]

Just had a quick look at eBay.

LWB Nissan Interstar would be the type of size we need.

Been told to stay away from Transit (its a long time since i drove a transit) Vauxhall Movano i have used alot and were ok, Renault or Merc still appear to have a good name.

A mechanic friend told be Citroen are quite good with a big panel van.

If only Toyota would do 3.5 tonne van......

 

[gas4you]

Thats sounds expensive to me at £650! I was being charged £410 and e-van done it for £155, with unlimited claims protection and breakdown cover. That is why I thought they were good.

They only seem competitive if you pay in one go, when I compared their instalment options they didn't seem much better.