The process of buying a brand-new van for your small business is a significant investment that can be overwhelming. With so many sellers to choose from nowadays, it can be challenging to decide what van to buy and who to buy from, but van buying doesn't have to be daunting.
At Foray Motor Group, we have specialised in selling new and used Ford cars and vans for almost 25 years. We understand the importance of every aspect of buying a vehicle, and our goal is to help you find the best vehicle to support your business growth. In this article, we’ll guide you through buying your commercial vehicle with confidence.
A recent report published by The Society of Motor Manufacturers and Traders found that vans support 10% of the UK's workforce, delivering a wage bill of £56 billion, equivalent to 11% of the UK Economy's national income. With the substantial growth in the number of those who require and rely on their van for work, buying a business van – particularly when your livelihood revolves around it – is a crucial decision, and there is much to consider.
Another point to take into consideration when purchasing a new van for business purposes is the tax implications. New vans come with a range of tax advantages for VAT-registered business owners, and a company van qualifies and is classed as an asset for Annual Investment Allowance (AIA) and could be classed as a tax-deductible expense resulting in a potential saving on your tax bill.
One of the first decisions you'll need to make when buying a van is whether to opt for a new or used van. At Foray Motor Group, we offer an extensive range ofbrand-new vans andsecond-hand vans. From a small van like the Transit Courier to the large All-New Transit Custom that can transport tools and equipment.
A brand-new van offers the advantage of being untouched, having the latest technology and comes with a manufacturer's warranty covering a range of components. We know that it's a tough time for business owners as running costs, including van insurance, are rising everywhere, and unlike other dealerships, we offer a range of new van offers, such as 5 years of free servicing when you purchase the New All-Electric Ford E-Transit.
A second-hand van may be more suitable for sole traders due to their lower purchase price. A common concern we see among buyers of used vans is the prospect of additional maintenance and repair responsibilities. If you buy from an independent garage or driveway trader, you will likely need to inspect the van or pay a reliable mechanic before purchasing, often costing you time and money.
We offer a line of used vans, where every single used van has been pre-checked by our expert technicians so that it is safe and comfortable for you to drive on the road.
Ultimately, the decision between a new or used van will depend on factors such as your budget, business use, and personal preferences. At Foray Motor Group, our experts are always on hand to understand your needs, help you weigh the pros and cons of new and used vans, and provide advice on financing options.
Once you've decided on a new or used van, the next step is to consider financing options. Other than buying a van outright, there are several options, including a bank loan, renting from a leasing company, or using a business credit card with 0% interest charges. Each of these finance options has its own benefits and drawbacks, so weighing the pros and cons of each is important.
Purchasing a van outright means you'll own the vehicle and won't have to make monthly payments, but you will need to pay the total cost upfront. On the other hand, leasing a van involves making monthly payments and not owning the vehicle, which could be a more manageable option for some small businesses. However, you usually don't have the option to buy the van later.
At Foray Motor Group, we offer our customers a Personal Contract Purchase (PCP), which is a finance product that allows you the opportunity to buy a new or a used van. It is similar to a van leasing (or Hire Purchase) agreement as you will usually pay an initial deposit, followed by monthly instalments over a term typically between 18 to 48 months.
What makes PCP different from Hire Purchase is that your monthly instalments are paying off the car's depreciation and not its entire value over the term. At the end of your agreement, if you decide to keep the van, a final payment can be made.
Our team are available to assist with any questions, whether upfront or throughout the journey should you wish to purchase a van online. For a quotation, help, or advice, please contact us and ask to speak to one of our Business Managers.
Our quest for customer happiness continues long after you have driven off the forecourt. We invest significant time to ensure our technicians are fully trained.
We know maintenance costs tend to worry business owners, so we offer affordable Ford service plans to help you spread the cost of van maintenance and tailor them to suit your business requirements. We have access to an extensive network of suppliers, where we source tyres and other van accessories, so they're ready for fitting at our service centres, where we will repair your van to its manufacturer’s standard.
We also offer accident and repair solutions, and we provide courtesy cars; lifts to home, work or town; a collection and delivery service.
Whether you're a sole trader or a limited company, selecting the right business van is a significant decision. With the wealth of used and new Ford vans we have at our dealerships, we can provide you with everything from the highly-rated Ford Transit Custom to the practical and nimble Transit Courier at our Poole and Yeovil Transit Centres- whatever van is right for your business, and whatever the size.
If you’d like to explore our van range or book a test drive, contact your local Foray Motor Group dealership for further information or fill out our contact form to allow our team to help with your enquiry.