Should I lease or buy my next van?

I have contract leased through my company a Ford Transit Connect Double Cab - (I have two kids and quite often need to put them in as well as deliveries). I now need a larger van and am looking at the Transit Custom Double Cab as an option.

I'm coming to the end of the four-year lease and have spent £12,556 ex-VAT (I am VAT registered) and obviously will be handing it back with no van.

Looking at their current value (17-plate) I think I may have been better financing an older model than losing £12k on the lease. But it becomes a minefield with older vehicles and ownership, plus finance would be needed.

My question is, should I buy or lease my next van?

Asked on 22 December 2020 by M Rafter

Answered by Dan Powell
It is very difficult to provide an answer without knowing your company's financial position. However, we do cover the pros and cons of both ownership routes here:

The Ford Transit Custom Double Cab is a great van. Easy to drive, practical and good on fuel, it's one of my favourite mid-size vans. If you do decide to buy a used model we have quite a lot of advice (including a used buying guide) in our review:
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