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Van costs Checklist – before you purchase

Whether you are looking to buy a van for work or pleasure, it is important to know what you are getting into.

Part of owning a van is keeping costs down. But, you need to know what the costs are ahead of time so you buy the right one and within your budget. After all, the expenses don’t stop after you’ve bought the van.

In this article, we will go over some of the hidden costs of owning a van. Then, we’ll add some tips on how to keep those costs down. Read on for the buyer’s guide!

Insurance costs

Before settling on the van to buy, it really pays dividends to get some insurance quotes on the type of van you are most interested in.

This should be an integral part of the shopping phase when trying to decide between competing brands.

The best way to shop around is to go to Tesco Van Insurance and get some quotes. On the site, you can check out a few different insurance companies and do a back to back comparison.

Not only should you be checking the quotes of different companies, but also various makes and models. This is the most important part since you can see if the model you have your heart set on is going to cost more to insure.

You may want to invest in some additional insurance to cover the goods that you plan to transport or additional security that covers theft. Vans are prime targets for thieves as they usually carry goods that have some value.

Carrying passengers in your van may also be required and will raise your premium.

Depreciation

All cars and vans depreciate in value over time. They don’t all depreciate at the same rate or as much, however. There are a few factors involved that determine how much a van will lose value.

Knowing some of these things to look out for can put you in a van that will sell for more later if you need to get rid of it.

  • Fuel efficiency – Nobody wants a petrol guzzler in this day and age. One of the biggest expenses with a van, or any vehicle for that matter, is filling it up the fuel tank. A van that frugally sips petrol or diesel is going to command more money later when it comes time to sell it.

  • Reliability – A van that is not frequently at the mechanic is a very powerful draw. Some makes and models perform better than others when it comes to reliability. One suggestion is to buy UK-built brands as the cost of fixing them is much less than foreign models since parts are more readily available. The new Vauxhall Vivaro is a good example of this.

  • Options – Having lots of options can be both a good thing and a bad thing when it comes to the resale value of a van. Used van buyers like having things like blind spot detection or assisted parking since they keep you safe and prevent accidents. Upgrades like high-end entertainment systems or heated seats are not usually things people want to pay extra for when purchasing a used van.

Vehicle Excise Duty (VED)

How much you are going to pay in taxes for your van will depend on a few things.

The Vehicle Excise Duty, also referred to as the Road Tax, is charged every year. The tax band that determines how much you will pay is based on the engine size and the date it was registered.

To find out what tax band you will fall under you can visit this site for more information.

Licensing

You don’t need a special license to drive a van unless it is over 3.5 tonnes. In that case, you’ll need to have a goods vehicle operator license.

That license can be quite pricey. The application alone for that will set you back £257. Then, issuing the license a further £401. After five years, you’ll need to pay £401 again. There are also other fees associated with it so check out the official website to learn more about it.

There are different types of licenses that depend on what kind of goods you need to transport.

Accessories

Depending on the nature of the work you plan to do with your van, you may need to spend money outfitting it. Things like ladder racks or brackets may not come standard on the type of van you want. These aftermarket additions could end up costing you more than you realise.

 
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Posted by on October 21, 2019 in Contributed content

 
 
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