Lease or Finance?

[AbdulS]

Hi all,
I would like your opinion in the best strategy in purchasing a small van.
I'm not VAT registered. I have whittled down my options to the following:
1. Cash purchase of £5000
2. finance purchase of £9,000 overs term of say, 4 years incurring interest
3. finance lease of a new vehicle over a 4 year term say, with the option to buy paying off the balloon payment or entering into another contract again.

I Highly fancy the a VW Caddy.

 

[Octopus]

How many miles do you do per year?

 

[ImpededLoop]

If you buy a used van you risk needing to find money to repair it if it goes wrong. However, you own it outright and don't have to find money every month for the lease/finance.

 

[Octopus]

Is a Caddy big enough?

 

[Guest55]

cash is king , nuff said.

 

[Guest77]

Spend 4-5K in cash on a Transit, VW Transporter or an equivilent sized van, avoid monthly payments at all costs if just starting out.

 

[telectrix]

as mjjn says. buy a 2nd hand van, caddy too small. something the size of a transporter/hiace/get aq good one ona a 54 plater for about £3000.

 

[Guest77]

as mjjn says. buy a 2nd hand van, caddy too small. something the size of a transporter/hiace/get aq good one ona a 54 plater for about £3000.

Slow down on the ale Tel, lol chuckle.

 

[londonfire]

I have a 3 year old caddy and if I'm honest its to small.
Does drive like a car but you get none of the perks.
You pay just as much insurance and your charged the same as a big van at tolls. Often find an extra seat would be really handy too.