SMES Choosing Purchasing Over Leasing When Selecting New Vehicles

Data collected by MIB Data Solutions shows that many small and medium sized companies are still opting to buy their company vehicles outright rather than entering into leasing deals.

1317 fleet managers were asked about their preferences when it came to purchasing new company vehicles and 1163 said they choose to purchase cars and vans. 685 choose to lease and 259 choose a combination of purchasing and leasing. Van insurance is also a top concern for business owners with many choosing to find the top insurance quotes online using van insurance comparison websites.

The fleet sizes of those businesses questioned ranged from one to 200 vehicles. Leasing is becoming more and more popular over recent years. Company owners are looking to preserve cash reserves and purchasing vehicles provides fixed costs and decreases the risk of residual value.

There seems to be a trend in the SME sector at least that company owners prefer to own their business assets rather than lease them. It was also noted that there was a steady pattern between the size of the fleet and the acquisition method used with fleets of 200 vehicles or over more likely to use leasing to some extent.

Whether you choose to purchase or lease commercial vans, it’s important that you obtain the right level of van insurance. Today it’s never been easier to find van insurance quotes that offer peace of mind and an affordable solution. If you like to keep an eye on your assets and your available cash, choosing the right van insurance has never been more important.

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