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Buying a New Van vs Used Van: Pros and Cons


When deciding whether to buy a new or used van, the choice depends on your specific personal or business needs. Are you a self-employed tradesperson needing a reliable van for carrying tools and materials? Or are you looking for a van that you can convert for weekends away?

At Foray Motor Group, we have the knowledge and experience to help you understand the pros and cons of buying a new van and a used van so you can make the right decision for your needs.

Benefits of Buying a New Van

When weighing the pros and cons of buying a new or used van, consider what matters most to you. Peace of mind and reliability might be more important than affordability. Read on for an overview of the benefits of buying a new van instead of a used van.

Pros:

  • Longevity: A brand-new van offers reliability and better performance. With proper maintenance, it can last for decades.
  • Customisation: When you buy a new van, you can tailor it to your preferred specifications, such as colour, rear-view cameras, and driver alert systems.
  • Low Maintenance Costs: Your new van's manufacturer warranty will usually cover repairs or replacement parts for approximately 3 years.
  • Advanced Technology: New vans come with state-of-the-art safety features, entertainment systems, air conditioning, and satellite navigation.
  • Eco-Friendly: Newer vans tend to be more environmentally conscious, with lower emissions, meaning you can avoid charges in Low-Emission Zones. Electric van options are also available.
  • Business Image: A new van can enhance the professional appearance of your business.
  • Leasing Options: Leasing options may help spread the costs of purchasing a new van.

Cons:

  • Higher Cost: A new van comes with a higher price tag, although finance options may be available.
  • Depreciation: A new van will quickly lose value. It is estimated that it will lose 40-50% of the original price in the first 3 years.
  • Wait Time: Some new vans have waiting periods for custom specifications, which will vary depending on the manufacturer, model, and level of customisation.
  • Damage Concerns: You may be concerned about scratches and dents caused by driving narrow rural lanes or rough terrain.

Benefits of Buying a Used Van

When looking at the benefits of buying a used van over a new van, the main advantages are likely to be affordability and lower insurance costs rather than high-tech customisation. Read on to explore the key benefits and drawbacks of opting for a used van over a brand-new model.

Pros:

  • Cost Savings: Used vans are more affordable, making them ideal for small business owners or budget-conscious buyers.
  • Lower Depreciation: Buying a second-hand van means you bypass the steepest depreciation period, thereby retaining more value over time.
  • Wear and Tear: Buying a used van reduces the worry of damage, particularly for tradespeople or those transporting sports equipment.
  • Lower Insurance Costs: Insurance premiums for used vans are often lower than for new ones.
  • Finance Options: HP or PCP financing can help spread the cost of a used van, making it easier to manage costs while gaining access to a reliable vehicle.
  • Personal customisation: By converting the interior of your van, you can potentially increase its resale value.

Cons:

  • Higher Maintenance Costs: Second-hand vans may have hidden mechanical problems, and parts can be costly, leading to more expensive repairs.
  • Outdated Technology: Older vans may lack modern safety, entertainment, and efficiency improvements.
  • Vehicle History: While you can request a vehicle history report to highlight any issues, it is advisable to get your used van inspected by a trusted mechanic.
  • Limited Options: You are likely to be restricted to what is available in the market and may not find the exact specifications you want.
  • Warranty: Unlike new vans, used vans usually have little or no warranty coverage, which can affect your ongoing maintenance costs.

New or Used Vans - Which Should You Buy?

The pros and cons of buying a new van vs a used van depend on your personal or business requirements.

If you have the budget, a new van can offer reliability, a full warranty, and the latest technology. However, if cost is a key factor, a used van will be more affordable and have slower depreciation, although it may come with potential maintenance risks.

At Foray Motor Group, we offer a wide range of vehicles to suit your needs, whether you are looking for a new van or a used van. Visit our showrooms to browse our selection of Ford and non-Ford vans, and let our expert team help you find the ideal vehicle for you.