My old ford transit is in it's way out unfortunately
after 160k miles it's been a workhorse and very reliable I had a look at the new Ford Transit Custom vans the other day and they are better than porn! Fell in love as soon as I sat inside!
Basically I just wanted to ask what the best options financially are available for me and what you would recommend. Here are the options I have researched so far but you may know another way?
I am not VAT registered so will obviously lose out as I cannot claim the vat back
Option 1
4 Years Finance Lease
£3030.82+ VAT Deposit
£233.14+ VAT x 47
£7695+ VAT Balloon
Option 2
Outright Purchase (Pre-registered)
£23202.68 inc VAT, 12mths RFL (On the Road)
Hire Purchase
£4000 Deposit
£392.04 x 60 Mths
Option 3
Outright purchase £22,465.46
Deposit £3,973.41
£440 x 48 mths
7.2% APR
I have been told the best option for tax relief is option 1 the finance lease as after the 4 years you can trade your van in for a new one instead of paying the balloon payment but not sure why that is better for tax relief?
Would appreciate all of your honest advice as obviously these car sales men are going to paint everything out to be amazing as they want the sale
I know you may think it is extravagant buying a brand new van but how I see it is I am in the thing 10 hours per day so much nicer to make the job that little more enjoyable and at the same time it reduces my tax bill a little. I would get a second hand one but they only came out last year so they retain there value really well and there are not many about
Here is the link to the van if anyone wants to see how nice it is lol
http://vans.autotrader.co.uk/van-news-r ... 8c88fcf763
Kind regards
Ross
