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This topic has been thrashed out a few times and always yields different views.
The top and bottom for me is you have different types of tradesmen with different types of customers.
Example 1
Electrician who is happy earning a few hundred pound a week and happy to run about in an old beat up van and if they were to stretch to getting a new shiny van this would raise a few eyebrows from their tight customers.
Been there done that!
People get used to seeing you in a scrap heap, then you get - "he must be earning good money look at that van he's bought!"
No thought to the fact that, when I did eventually have a decent van I could only afford it over a 5 year payment plan, with my old van and a little bit of cash as a deposit.
Example 2
Electrician who wants to build up a company with staff / office/ several vehicles and works for large reputable companies who wouldn't blink if they all rolled up in new vehicles because they do the same. plus a new van is a sensible business. tax benefit if the company is making decent profit.
Not everybody gets the opportunity to build a successful business and get the sort of clients who actually expect to pay good money for a good trades man. I've been in business for coming up to 30 years now and still only have a limited number of good clients. Business is very cut throat in my neck of the woods.
Example 3
Electrician who has everthing that Electrician 2 has but just doesn't see the need to drive a new van.
I like to think I'm heading towards example 3, in that I'm in a position where I could probably afford a new van. But because I've spent my entire career scraping by and making do, I feel that a new van is a luxury that I don't need.
That said, The van I have at present is not worth much money and owes me nothing, it keeps on trouping like a good old train. If or when I was to next invest in another van I would definitely consider the option of a new one, just for the warranty and peace of mind. :blush5: