Advice best LARGE van also lease or buy

Weresmydosh

Hi
I have the chance to start work after 1 yr doing bits and bats.
Job is with large company and comes recommended as honest and reliable company
The job is self employed (i do not mind this)
I need a large van high roof long wheel base, the van needs to be under 3 yrs old , company image, bearing in mind the cost of diesel I require something that gives good MPG,
The lease or buy option is one I would also like advice on also best for tax purposes
I am not vain the van is to do a job so does not need to be all singing dancing , nor does it have to be the cheapest it as to be all things considered including resale values when time to change if bought If I buy it will be on HP with a 5k deposit so I am asking
New
2nd Hand
buy
Lease
Tax benefits
Make / model recommendations and why
Dealer/ lease company recommendations
Like the VW Crafter anything better?
Web sites that might have these details as I cannot find any comparison /review sites
Thank you in advance

Hintza

My feeling is don't commit yourself to lease payments (n the first instance). If the job doesn't work out you could be seriously out of pocket.

I would be looking for either the cheapest option to start (ie second hand) or the shortest term option ie renting one on a weekly or monthly basis (will be relatively expensive).

What you want to do is buy yourself 2-6 months breathing space before deciding what is the most cost effective long term option.

I don't envy you making this decision just try and an work out worst case scenarios.

But then again a man with a van should be able to scrape enough to get by though.

Good luck

Quinny_2

If the van has to be under 3 years old, then I'm guessing it's Drop it Hide it and Lose it you're going to work for. If not, then it's got to be one of the other big boys.

Look no further than the Merc Sprinter as has been previously mentioned. There are thousands of them in use in the UK for various courier companies, including private ones. The Transit is also good, but is very hyped up imo. Sprinters tend to be very reliable, but can be expensive when/if they go wrong.

I would go for spot hire in the short term, with unlimited mileage if your doing courier work, then at least if it doesn't work out for you, it can go back without any problems, but beware of any damage to the vehicle as you will be charged for it. You'll also need that £5K to keep you running until the cashflow situation eases, so bear that in mind if you are committing yourself to buying. Also if you spot hire, you MUST tell them what it's for, and they WILL probably load the cost in respect of what you're doing. Nice. But make sure it comes with servicing/tyres/breakdown cover as well.

No matter wether your buying or leasing, then it's tax deductable. Buying means an asset on your books with depreciation, whereas leasing can be all written off. (According to my accountant.) Don't forget to register for vat for to make a little extra cash. Some people say don't get vat registered as it can be messy and you don't have to be vat registered until turnover exceeds £60K, but volunteering does have benefits. I am vat registered now as a self employed HGV driver, and every quarter I trouser around £400 on average, tax free and all legal.

If the van is for courier work, then pm me your name and number, and I will point you in the right direction. I used to do courier work myself, but went back to driving HGV's, as I couldn't get used to doing 20 hour days, (I kid you not!!!) and never know what time of day/night I was going to be home.

Radsteral

I got a 2006 sprinter petrol lpg very good , for london free congesstion charge too. before that i bought a second hand , battered vw lt 35 x -reg. this was a 5 piston engine and the best /strongest and easier to drive ..
I drove a crafter recently , prety good but i would say stick with vw/ sprinter but look for a 5 piston one instead of 4 piston..
in my opinion i like my old vw lt 35

Weresmydosh

I would love to get a large LPG just cannot find any for sale
Thanks for info from all so far please keep it coming

scbk

I would ask the HMRC for advice as it doesn't sound very self employed

Quinny_2

scbk wrote: »

I would ask the HMRC for advice as it doesn't sound very self employed

Can't understand what makes you say that.

If the van has to be under 3 years old, then as someone who has been there, then it looks like it will be one of the large companies that the op will be working for, as the age of the vehicle is all down to image and reliabilty.

Weresmydosh

scbk wrote: »

I would ask the HMRC for advice as it doesn't sound very self employed

Hi
Thanks for your concern however I have worked both as an employee and self employed for a good few years and find self employed as many advantages over being an employee
lower rates of national insurance
Claim expense back
Better pension payments
Pay with dividends
Not have to jump through as many hoops
Not have to feed the bosses chocolate star fish with my tongue
Unless you are employed by a government type company or a large corporation employee status gives you nothing.
I was a employee of a average company well treated but had to beg for pay rises etc tow a very straight line and not pi55 on any body above me toes no matter how thick un-knowledgeable or condescending i found them.
Left the safety net & started my own little company took it to 14 staff had un- related family issues (very ill family member) so sold up, not done much work since but ready to occupy my time again