Why Choose Swiss Vans for Van Leases

Do you need to lease a van to move home? Are you considering starting up your own business and want to explore how this will go before tying yourself into van finance? We have the perfect option for you; hiring a van from Swiss Vans. 

Swiss Vans is an extremely popular van leasing company that also offers bespoke vans. Based in Wales with delivery options throughout the UK, Swiss Vans deals primarily in long-term rentals, perfect for fleet vehicles for established businesses. However, they also offer 7-day and 3-12 month rentals for shorter rental needs. 

We will take you through what the company offers and how you can benefit from using this company for your van leasing needs. 

What is Van Leasing?

You may be unsure how van leasing differs from renting a van, so we will give you information to cover this first. Renting a van is generally a short-term contract for moving house or taking items to a storage facility. 

However, leasing a van is for a longer-term period and is usually for business purposes. This could be to lease a fleet of vans or an individual van for business or self-employment purposes. You would define the term of the lease when completing all of the paperwork and would ordinarily be leasing for a fixed period of three years. 

At Swiss Van leasing a van does not need to be for a three-year period, with shorter-term leases also available. Van leasing is a form of finance, so this will need to be considered when deciding if you are going to proceed with leasing one or several vans. 

What is Finance for Van Leases?

There are several types of finance options that Swiss Vans offers: 

• HP/Lease Purchase – A hire purchase/lease-purchase van lease, as with all forms of finance, requires a credit check. For this option, you will need to provide a deposit of the VAT amount of the vehicle. This option also gives you the chance to purchase the van outright at the end of the lease term. You can also settle this finance option early if you choose to. 
• Finance Lease – This is very similar to the above option, with the exception that the deposit you need to pay is 10% rather than the VAT amount, and the VAT does not need to be paid upfront. Choosing between these two options, we recommend that you look at the most cost-effective and affordable option for you. 
• 12-Month Lease – With the 12-month lease option, you will again have a credit check performed before the finance can be granted. There is still a deposit; however, this is equal to the amount of 1 month’s lease payment. You cannot settle this lease option early, but you do still have the option to purchase the van at the end of the lease period. 
• Contract Hire – The contract hire option gives you the least options while still requiring a credit check. The deposit amount is the highest, with a 3 to 12-month payment deposit required prior to taking possession of the vehicle. There is no option to purchase the vehicle at the end of the hire period or settle early if you wish to.

Additionally, Swiss Vans offers a long-term rental that does not require a credit check. Only a damage deposit is required in advance, and both a damage and mileage penalty is paid at the end of the term if there is any damage or the allowed mileage has been exceeded. 

The above information is included on the Swiss Van website in a very accessible table in the Van Finance section. The layout of the table allows you to quickly and easily compare the different finance options and see which is the best option for you. 

Is Van Finance Right For Me?

Choosing whether or not van finance is the best option is a personal decision that could depend on a number of factors. Finance options will always require a credit check, so if you have a poor credit rating, finance may not be possible. However, this is not always a definite no, with some finance companies still able to extend credit to those with a poor credit rating. 

Finance options are often seen as a good option for those who are purchasing brand new vans or multiple vans at one time. Purchasing a brand new or several vans at one time would require a very large one-off payment making it unaffordable for a lot of smaller or newer businesses. 

When considering whether you wish to take out van finance, you should always check that this is an affordable option for you. This will be both the upfront deposit amount and the monthly repayments. You may need to check your finances before making the decision, and if you are unsure, we recommend discussing this with your financial advisor to ensure that it is affordable. 

Purchasing Your Leased Van

As discussed above, some of the finance options available with Swiss Vans allow you to purchase the van outright for an additional lump sum payment at the end of the finance term. You may choose to do this and either pay the additional amount or take out a further business loan to pay off multiple vans. 

Additionally, at the end of the lease term, you can trade that van back in and get another brand new van under the same lease terms. You should be aware that this will involve a new finance term and a further credit check to be completed. 

In the UK changing to a brand new van every 3 years will avoid the cost of MOTs being completed, and under some finance options, the lease company will pay for the service of the vehicle too. 

If you already have a van that has seen better days, Swiss Vans will also offer you the opportunity to part exchange your current van when you begin a new lease term with them. You can use that vehicle to either pay the deposit or bring down the overall cost of the lease, making the repayments lower. 

Swiss Vans will discuss all of your options with you in addition to all of the models they have available. The website is very informative, with all of the available vehicles and prices clearly shown on the website. You can also use the webchat or contact form for additional information directly on the website too.