Times are certainly strange. There’s a lot going on in the world right now, and the landscape is changing for both the leasing and the sales markets.
Various stages of lockdown due to coronavirus have pushed a lot of home delivery services and there has been an increase in the courier and delivery van sectors.
High Sale Prices
Due to this high demand, sales prices for used vans are increasing. While the team at Van Ninja’s used vehicle division have done their best to keep the prices low to help our customers, it’s not necessarily a bad thing for the prices to increase.
If, for example, you have a van on a finance lease contract, then you will be required to sell the vehicle at the end of the term. In the current market, you will likely get a better price for it than the predicted depreciated value. You should find yourself with a little extra cash in your pocket once all is said and done.
In late 2019 through to around February 2020, van insurance prices were soaring. Van insurance premiums went up by 2.2% in February, which is greater than the rate of inflation.
However, as of August 2020, insurance premiums have dropped an average of 2.3%. If the trend continues into September, then it might be a good time to start looking at leasing a van.
New Reg Plates
As of this month, new vans are given the 70 registration plate. Traditionally, August is a slow month for van registrations as many customers want to wait for the new registration plate. Any factory order van that you lease from Van Ninja will be fitted with a 70 plate.
Van Ninja work with all the top manufacturers to get some great discounts on new vehicles, and we are able to pass these discounts to our leasing customers.
Taking into account all of the above, if you’re looking to replace your van, there are only a couple of options that we would recommend in the current climate.
Buying a second hand van is still very viable, as long as you shop around and make sure you get a good price. Van Ninja Used Vans are still one of the cheapest around for quality used vans.
If you want a new vehicle, then Finance Lease is the option you need. Manufacturer discounts combined with high resale prices at the end of the lease mean you can get some great terms on the lease of a new van.
Van Ninja have some really good lease deals on all the top vans. Browse through our range, and take advantage of one of our great offers.