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The Benefits of Leasing a Refrigerated Van for Small Businesses

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The Benefits of Leasing a Refrigerated Van for Small Businesses

Running a small business can be a balancing act. Small business owners need to learn to strike a balance between pushing forward and financial responsibility. Without the resources of a larger company, it can be difficult to achieve what you want, which means all business decisions need to be highly strategic.

This can mean compromises on everything, from the goods and services that you offer to the resources you need to be able to do this. If you are running the type of business that requires a refrigerated van, you’re going to have to make a decision between leasing and buying. You’ll also need to choose between a new or a used van.

Before making such an important decision for your business, you have to weigh up the pros and cons of each option. In this guide, we’re exploring the benefits of leasing a refrigerated van for small businesses and how this option might help you to overcome business challenges.

Spread the cost of your van

Spread the cost of your van

Perhaps the most obvious benefit of a leased vehicle is that you can spread the cost of your purchase. You won’t have to part with the full value of the vehicle up front, which can help to ease the pressure on your finances.

Small business owners need to be astute with their spending or they could run the risk of running out of money before they’ve had a chance to start turning a profit. When it comes to essential purchases like a refrigerated vehicle, it makes sense to spread the cost into monthly leasing payments.

Your monthly payments will also be very predictable, allowing you to budget with ease. You can also choose to exit your leasing agreement at the end of your term, so you can walk away with no further pressure to sell a vehicle to recoup the cost.

Avoid depreciation

When you purchase a new or used vehicle, you are taking on the burden of depreciation. This means that every day that passes and every mile that you drive, your vehicle is worth less and less.

This means that a vehicle isn’t really an investment, because its value will always be going down. This is one of the main reasons that business owners will choose to lease rather than buy, as it means that they don’t have to shoulder the cost of depreciation.

Access a newer model

Access a newer model

If you are locked in a choice between buying a used or leasing, wouldn’t you rather choose the option that lets you access the higher quality vehicle? By choosing leasing, you can access a newer model than you are likely able to afford when it comes to buying outright.

Newer models are more efficient, so you’ll enjoy lower running costs. You can also access a wide range of safety features in newer cars which can help to improve the driving experience. This is great news if your van driver will be travelling long distances in your refrigerated van.

Tax savings

When you choose to lease a car rather than buy it outright, you can use these payments to offset your tax burden. Always speak to a tax expert before going ahead with a deal to make sure that your business is eligible for this kind of tax write-off.

If you are eligible, you could save a lot of money in tax by leasing instead of buying your vehicle outright.

Avoid compromises

Avoid compromises

When you choose a lease vehicle, you can choose exactly what you want rather than compromising on what you can afford. Refrigerated vans are highly specialised vans, so it’s helpful if you can choose one that works for your business, rather than adapting your business to your van.

Size is an important part of choosing a refrigerated van. Too large, and you’ll end up paying more to run the van and chill unused space. And if it’s too small, you might struggle to operate your business as you would like. By choosing a lease vehicle, you can pick the one that matches your exact specifications without having to worry about the cost.

Enjoy a vehicle warranty

A used vehicle won’t come with any kind of guarantee, so when the paperwork is all signed, it’s entirely your responsibility. 

You are also unlikely to have any kind of warranty with an older vehicle, so the financial burden of breakdowns will rest squarely on your shoulders. You’ll have no choice but to pay what it costs to fix it because your business will be reliant on your van being operational.

When you choose to lease a new vehicle, you’re going to enjoy some protection and coverage. First, the vehicle might still be in warranty, and you’ll be able to keep this warranty intact by simply taking it for a regular service. 

Second, you will also be able to choose a maintenance package that will help keep your vehicle in tip top working order. This can offer peace of mind that your van won’t break down when you need it the most.

Better for the environment

Better for the environment

If you have green credentials you need to consider, then choosing a lease vehicle may be better as you’re more likely to be able to afford an electric or hybrid vehicle. This will not only be great for your operational running costs, but it’s also better for the planet. 

If all businesses took their environmental responsibilities seriously, we would see emissions fall and an increase in electric vehicles on the road due to increased demand. It’s also far cheaper to run an electric vehicle, so you’ll enjoy savings on top of savings.

Final thoughts on leasing a refrigerated van

As you can see, there is a strong business case for leasing over purchasing. If you’re still on the fence, get in touch with our team today to learn more about the benefits for small businesses. 

We have helped many small businesses to scale and achieve their objectives through smart refrigerated van leasing that works for their business model – and you could be next. 

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