How Does Van Leasing Work?
Each year, the van market is rapidly expanding with manufacturers such as Ford, Citroen and Mercedes-Benz regularly extending their van range. Meanwhile, van leasing is becoming ever more popular with sole traders, partnerships, limited companies and even individuals. That said, from our experience, we often find customers are unsure about the leasing process and have never leased a van before. Therefore, in this article we’ll provide a step-by-step guide to van leasing. At GB Vehicle Leasing, we aim to make leasing a van as easy and straightforward as possible for our customers.
What is van leasing?
Van leasing is essentially a long-term rental agreement, offering exclusive use of a van for a set period at a fixed monthly price. Rather than pay large deposits, you simply pay a small initial rental at the start of the lease, followed by your monthly payment. When you lease a new van, it is possible to add servicing and maintenance to most of our deals for an additional fixed monthly cost. Insurance is not included, so this is your responsibility to arrange.
Step 1: Choosing Your Van
Our interactive website enables you to search by make, model, fuel type or budget to choose the ideal van for you. You should consider what you want the duration (typically 2,3 or 4 years) and mileage allowance to be for your lease contract, as well as the finance type to opt for. Our team are always happy to discuss any of the above with you if you are unsure.
Do you require a new lease van ASAP? Where possible, our team work hard to secure stock vehicles, including vans and offer the very best lease deals available. For our full stock list and to see how we can assist you further, please get in contact with us today.
Step 2: Initial Contact
Once we receive your enquiry, one of our van specialists at GB Vehicle Leasing will contact you to discuss your enquiry. This initial contact gives us the opportunity to discuss your specific requirements regarding the van and the lease contract. Also, our van specialists will be more than happy to answer any additional questions you have regarding leasing a van. If we ask about your credit score, this is simply to ensure we can match your credit profile to the most suitable lender at proposal stage.
Step 3: Get Your Free Quote
Based on the details you provide to us; the van specialist will run quotations using the funders at our disposal. You will then be provided with a free quotation at the best possible price for the van you desire. If required, we are able to provide quotes on various vehicles or different contract terms in order for you to compare them and find the ideal one for you.
Step 4: Proposal
If you’re happy with the quote provided, then you are required to complete a finance application form on our website. Our team are always on hand to guide you through this if you are unsure about anything. Once completed, we will send this form to the appropriate finance company for them to review. At this point they'll do a credit check to make sure you can afford the monthly payments and therefore if you are approved for credit.
Step 5: Place Your Order
Once the credit has been approved, our admin team will send you the order along with our Terms and Conditions. This is confirming your details, delivery details, vehicle details and finance details. You’re then required to review and sign the Order and Terms and Conditions and return to us. The Order is then sent to the dealer to secure the van.
Our admin team will request any proofs of ID required by you and will forward them to the funder for approval. Once proofs are approved, a finance contract will be requested from the funder and emailed to you. When the finance contract has been signed, and once any ‘Cooling Off Period’ has expired, admin will organise delivery of the new van.
Step 6: Delivery
You will be required to sign a ‘Vehicle Acceptance Note’ confirming the van is as ordered and in the condition you expected. This is confirmation that you are happy to accept the van and therefore we advise that you conduct a thorough check of the van before signing this form.
Please Note: This is the typical process to leasing a van however, on occasions, it could differ due to circumstances. Also, if you decide to lease, you must keep the vehicle in good condition as you may pay for any damage outside the BVRLA Fair Wear & Tear Guide. As well, you should be aware that if you exceed your mileage allowance for the complete duration of your contract then an excess mileage charge will be applied.
Returning Your Lease Van
Several months before your contract comes to an end, a member of our team will be in touch to discuss your options for returning the van.
At the end of the lease period, you simply hand the van back. The job of selling the van and picking up the tab for depreciation is the responsibility of the finance provider. Sometimes, depending on the method of funding, you might be able to buy the van at the end of the agreement, if you wish.
Here at GB Vehicle Leasing we offer a huge range of fantastic van leasing deals on all body-types including large, medium and small vans, as well as pickup trucks too. For help finding the perfect van for you or your business, call our van leasing experts on 0161 667 5338.