Should I Lease or Purchase? The Advantages of Buying a Used Van…

Should I Lease or Purchase? The Advantages of Buying a Used Van…
Info

At Summit Vans we pride ourselves on our market leading lease offering but we also celebrate the benefits and value we offer through our used van sales.

When it comes to finding the perfect vehicle for your business needs, purchasing a used van can be a wise decision. While the appeal of a shiny new van may be tempting, there can be various advantages to choosing a used van instead. Let’s explore the benefits of used van sales and why this can be a smart choice for you.

We’ll get the obvious advantages covered first. Anyone can purchase a used van – whether you’re buying for personal use, or looking for a van for your business. The other immediate benefit that differs from a new van on a leasing package is that when you purchase a used van with either cash or finance, you own the van. The vehicle is essentially yours to do whatever you want with.

 

Cost Savings

One of the most significant advantages of purchasing a used van is the cost savings it can offer. Used vans are generally more affordable compared to buying their brand-new counterparts (which is why we offer affordable leasing packages on our new vans!). By choosing a used van, you can allocate your budget more efficiently, freeing up funds for other essentials. Lower purchase costs also mean lower monthly payments, making it easier for you to manage your finances.

 

Depreciation

New vehicles tend to lose a significant portion of their value generally in the first year or so of ownership. This depreciation can be a major concern, especially if you’re looking to maximize the value of your assets. By purchasing a used van, you are more likely to avoid the steepest depreciation period and acquire a vehicle that has already experienced its initial value drop. This way, you can protect your investment and potentially sell the van in the future without incurring substantial losses.

 

More Options

The used van market offers a vast array of options, making it easier to find a van that perfectly matches your specific requirements. Whether you need a compact van for city deliveries or a larger one for transporting goods or equipment, there is a wide selection of models, sizes, and configurations available in the used market. Every van is unique in the used van world, and it’s this variety that allows businesses or individuals to choose a van that suits their needs without compromising on functionality, or breaking the bank.

 

Reduced Insurance Costs

Insuring a brand-new vehicle can come with higher premiums due to its higher value. In contrast, used vans generally have lower insurance costs. This reduced insurance expense can result in substantial savings, especially when combined with the cost savings on the purchase itself. By opting for a used van, you can keep your insurance expenses in check and allocate your resources more effectively.

 

Reliability

Modern vehicles, including vans, are built to last longer and deliver reliable performance over an extended period. By choosing a used van from a reputable dealer like Summit, you can ensure that the vehicle has been well-maintained and is in good condition. Additionally, you can take advantage of vehicle history reports and service records to gain insights into the van’s maintenance history, providing you with added peace of mind. At Summit, we will only deal reliable part-exchanges, but when we’re sourcing used vans for additional stock we also have quality checks that each vehicle needs to pass before we’ll add it to our forecourt – including a low number of owners, no mechanical faults and low mileage, among other control factors.

 

Technology

You might be surprised that many used vans likely have most of the mod-cons you’d only expect to find in brand new LCVs. With the relentless upscaling in infotainment, comfort, safety and convenience over the past few years, most used vans manufactured in the past 3 or 4 years will probably tick most of your boxes in the ‘features’ category.

 

In conclusion, while new vans will always have their appeal and the very latest bells and whistles, the used van market holds a few trump cards of its own, making a used commercial vehicle a very viable and prudent choice. The associated cost savings, reduced depreciation, wider range of options, lower insurance costs, and reliable performance make used vans an attractive proposition, even when compared to buying a brand new van.

When considering your next van purchase, be sure to explore the used market to find a van that fits your needs and budget. By doing so, you can make a financially savvy decision that positively impacts your business in the long run. Here’s everything we have in stock right now. The market moves quickly so be sure to check back often!

Alternatively, you can always check out our Flexi Lease offers if you do want a brand new van. The affordability of leasing might surprise you…

Share this article