For those considering starting out as a courier, or if you wish to expand your existing courier business, van hire can be a smart option for many reasons. Here are three things to consider when deciding if van rental or purchase is right for you.
Cost
If you are starting out, then van rental is an economical option that avoids putting down large payments to purchase a vehicle. This will give you flexibility – meaning you won’t be lumbered with a vehicle you don’t need if plans change. 2022 was a difficult year for retailers and delivery companies alike, so it makes sense to keep your business as agile as possible.
For those businesses considering van hire Bristol who are VAT registered, you are also able to claim your tax back on van rental payments as a business expense, further lowering your costs.
Another cost that should be considered in the choice between purchase and renting is vehicle depreciation. Every second your van ages after it leaves the dealer forecourt, it loses value. Those using van hire Bristol don’t have to worry about this.
Size and Spec
When it comes to couriers, If you are in the market to upgrade your vehicle or want to expand your business, then the bigger the vehicle, the more you can fit in and the more efficient your deliveries become.
Van rental also opens up the van market to you in a way that probably wouldn’t be the case if you were purchasing. If having an electronic vehicle is important to you (or your customers) or you want a high-spec van, then renting can make this happen faster and easier without the associated financial and mechanical risks that come with owning a vehicle.
Security of income
If anything goes wrong with your vehicle, a rental company will replace it immediately. Depending on your business insurance, this may not be an option if you have purchased a van. Even if your insurance does cover it, this will require admin from you and use up your precious time.