What To Know When Buying A Van In The U.K.
Buying a van can be a more complicated process than some people expect. If you’re getting it for your company, then that could complicate things further, as more paperwork may be needed.
If you’re a business owner and you’re buying a van in the U.K., then you might be confused by some parts of the process. Part of this will focus on what you should look for when getting a vehicle. That should be the case whether you’re buying a van for personal use or your company.
Buying A Van In The U.K.: What To Know
Get The Right Size
Depending on the type of company you’re starting, then you’ll need a certain-sized vehicle. If you’re buying a van self employed, then it’s worth starting with a smaller one. While it’s tempting to choose a larger one, you should be realistic.
By starting small and building up, you can keep your costs manageable. Larger vans are more expensive, which means larger payments. You might not be able to afford these at the moment, although you can scale up in the future.
Cosmetics & Accessories
You’ll want your new vehicle to look as nice as possible, which makes cosmetics important. Buying a van for a small business means that you need to worry about logos and other branding. Make sure the vehicle has enough space for this before you buy.
Naturally, you wouldn’t need to worry about this if you’re buying a van for personal use. Regardless, how it looks when you buy it will play a role in whether or not you buy it. You should also look at the features and possible accessories that come with it, although these can affect the price.
When it comes to the best way to buy a van self employed, financing will be an issue. After all, you might have a limited budget, which could also be the case for small businesses. Thankfully, you can get a self employed van lease, which could be an affordable route.
There are multiple other ways to finance your purchase, including a loan. These are only if you plan on buying it outright, however, and come with several risks. Make sure that you can pay them back before buying.
What To Look For When Buying A Used Van
If you’re buying a van for personal use, then you might want to go for a more affordable option. A used van might be the better recommended option. While getting one of these could be an option if you’re buying a van for a small business, it should only be if you’re working on a budget.
Regardless, with used vans, there are several other factors to keep in mind.
If you’ll be transporting heavy materials, which is quite likely, then your van will need a good suspension. Without it, the sheer weight of what you’re carrying could cause the van to lean on the tires and other areas, which will cause damage when you’re driving.
Avoiding this is vital, as repairs will obviously cost money. Making sure the shock absorbers and other parts are up to standard should be your first stop.
There’s a decent chance that you’ll be in your van for quite a while. You’ll want to be comfortable when you are, which is where air conditioning comes in. If you’re buying a van, you’ll need to check all the air-conditioners settings in use.
You should also do similar checks on the van’s heater. That’ll help you make sure that you’ll be comfortable in the van year-round.
The van’s steering is naturally a vital aspect of the purchase. When you’re buying a van in the U.K., it’s recommended that you take it for a test drive, especially with used ones. That will help you determine what the steering is like, how the van handles, and if there are any mechanical or engine issues.
Keep a checklist for factors to look for when you’re driving the vehicle.
Buying A Van: New Vs. Used
Buying a van in the U.K. comes with multiple factors to consider, alongside several questions. The largest of these is whether you should buy a new one or a used one. There’s no right or wrong answer to this, as it’s dictated entirely by your circumstances.
When you’re buying a van for a small business or new company, price will be important. That could make it worth picking up a used vehicle and giving it any repairs or maintenance it needs. Once your company has grown, you can upgrade to a new van.
What Is The Best Way To Buy A Van If Not VAT Registered?
If you want to cut down on price, alongside other issues, then you might want to find the best way to buy a van if not VAT registered. In the majority of cases, dealerships are required to add VAT to the sale price.
As such, you may need to pay it without your company being VAT registered, although you’ll have to do so as a private customer, not a business.
Can I Claim For Buying A Van On My Tax Return?
As an entrepreneur, you’ll want to cut down on costs as much as possible. Getting tax relief is a large part of this. That could lead to you wondering, ‘can I claim for buying a van on my tax return?’
The good news is that you can. The bad news, however, is that you’ll need to make sure that the van is used for company reasons only. If you’re buying a van self employed or for a small business, then that means having an additional vehicle for your personal life.
If you’re buying a van for your business, then you can often be stressed by the process. While you’ll want to get something appropriate for your company, there are multiple issues to worry about. Even if you’re buying a van for personal use, you could run into issues.
Keeping the above in mind, however, should help you simplify the process.