To lease or to buy? That is the question. It all depends on your priorities. Before choosing which way to go, it’s important to understand the differences.
At a glance
Deciding how to finance your vehicle is an important decision. Whether you lease or buy a vehicle can impact your business and your life, so we created an overview of the main things to keep in mind when making that decision.
Leasing with LeasePlan
Leasing means less hassle and more predictability.
No high purchase price
Fixed all inclusive monthly fee
No risks: maintenance and repair are included
New vehicle every few years
Buying a new vehicle
Buying a vehicle means there are some financial risks to keep in mind.
High purchase price
Unpredictable monthly costs
High depreciation 1st year
You own the vehicle
Lease or buy
With leasing, you don't own the vehicle. You're just paying to use it for a fixed period. Your predictable monthly costs include taxes, insurance, repairs, maintenance and tyres. The only additional out-of-pocket cost? Fuel.
Leasing requires you to commit – with contracts ranging from 2 to 5 years. But every time you renew, you can pick out the latest model. And because you don’t buy the vehicle upfront, you can free up capital for other business needs.
Leasing frees up time to focus on your core business. Once you sign the contract, all you need to worry about is paying a monthly fee. We’ll take care of the admin, maintenance and more. Plus share insights on how to make the most of your lease vehicles.
When you buy, you pay the initial cost of the vehicle. You’ll also need to budget for regular costs like insurance, taxes and annual maintenance. Plus cover irregular expenses like repairs, tyres, petrol and more. The good news? When you sell the car, the money is yours to keep.
Buying a company car or van means you can choose whatever you like! Make, model, colour or custom fittings – your budget is the only limit. You can also buy or sell whenever you like.
When you own your vehicle, you can use it however you like. But you also need to make time for additional tasks. Like administration, reporting and making appointments for maintenance and repairs.