3 Tips to Save Money When Buying a New Commercial Van

If you are looking to buy a new van, chances are that your old van is not big enough for the increased workload anymore, or you simply need a new commercial van to start a new business. In this post, we will go through three quick tips on how to maximise the purchase, even when your budget is tight.

Sell Your Old Van: Realistic Pricing with Room for Barter

Before listing your own van online with a price tag, here are the questions you will need to answer first:

  • How old is it?
  • How many miles has it gone through already?
  • How much would you pay for it, all things considered?
  • What is the minimum price that you would sell the van for?

After you come up with what feels like a realistic price in respect to the van in question, add a 15% – 20% bartering buffer on the price and you should have a listing price. People will always want to negotiate when you are selling a used vehicle of any kind, so the buffer is essential to allow them the sense of a win when they happily agree upon an acceptable price. Ensure that the buffer is not calculated based on the lowest price you would be willing to sell the vehicle for, but what is a realistic price based on the van’s condition and market value.

Price Up a Commercial Van Insurance Policy

Insurance costs can vary according to the make and model of the van, its engine size, how old the vehicle is, and where you live. It is worth checking typical prices for models you are interested in before you finalise a purchase.

Use a comparison site like QuoteZone’s to compare commercial van insurance providers. Once you identify the cheapest commercial van insurance deals, you can decide which make and model is a good buy or rule out a vehicle you were previously interested in.

Take an Auto Loan to Finance Only a Portion of Your Purchase

Financing is always available for all vehicles in general and not just commercial vans, but you can save a lot of money in the long run if you can afford to pay a large percentage of the total upfront. Use the money you got from selling your old van and add as much more to it as you can afford to. If you do not have an old van to sell, you might need more financing than is advisable. In that case, see if at least some of the money cannot be arranged without taking a loan, or if you cannot start out with a lower-priced model.

Even if it may seem like a big expense at the time, you could be saving hundreds, if not thousands in interest on the loan, which adds up over time. Also, do not forget that loans too can be compared online, so don’t just settle for the first quote you receive.

Never rush into buying the first van you see. Take your time and shop around, as there are always bargains to be found.