Is Leasing a Van For Business The Best Options For You?

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Leasing a cargo van is essentially entering into a long-term rental agreement for that vehicle. Unlike a traditional van purchase, you don’t own the vehicle.

Instead, you rent the cargo van for an agreed number of months after you’ve paid and processed your sign-up fee and papers.

This article highlights all the information you need about leasing a cargo van and the best deals you can get.

What does commercial van lease entails?

Leasing a commercial cargo van like every leasing service has requirements that are unique to it. This is why you have to get yourself acquainted with all it entails before approaching a cargo van leasing company.

Most cargo van leasing involves either a used cargo van or a new cargo van. Also, there are agreements you have to enter into with the leasing company based on:

  • The rental duration, that is, the number of months.
  • Mileage you drive the cargo van.
  • Specific fees for the different car brands according to the manufacturer’s suggested retail price (MSRP).

Also, there are different rental or van leasing prices according to the number of months you intend to rent a particular brand’s cargo van.

Depending on the company’s policy offering you the leasing agreement, you can either lease a brand new cargo van or go for a used cargo van.

RELATED: What is Box Truck Financing Bad Credit?

How much to lease a van per month?

Leasing costs differ from one leasing company to the other ranging from $640 to $1020 per month across different leasing companies.

Several factors determine the price of leasing a van, including the manufacturer, brand, and lease length.

How does van leasing no deposit work?

Some companies allow clients to lease without making a deposit. However, not all leasing companies offer this option to prospective customers.

This service option is found majorly among top van leasing companies. Additionally, you’ll need a good credit score to use this option.

Also, leasing without deposit for most companies demands that you pay the total leasing cost at the end of the month.

Companies offering best cargo van lease deals?

U-Haul

U-Haul has thousands of locations nationwide, making it easy to find a U-Haul close to you.

They offer cargo van leasing services starting from $734 for 12 months to $852 for 24 months and then $1080 for 36 months leasing.

Merchants Fleet

Merchants Fleet is a reliable cargo van rental company boasting over 50 years of experience. They provide services to large and midsize businesses.

Merchants Fleet offers cargo van deals starting at $640/month for 12 months to 1020/month for 36 months.

They have a variety of vans available for lease. You can choose a minivan for small groups or a 15-passenger van to fit your needs.

RYDER

Despite having more than 500 locations nationwide and in Canada, it does not offer one-way rentals.

In addition to its specialty trucks, Ryder has one of the best cargo van leasing services in the U.S.

They offer cargo van deals from $708/month for 12 months, $906/month for 24 months, and 1340/month for 36 months rentals.

Every Ryder rental van, including panel vans, cargo vans, sprinter vans, and high-roof cargo vans, are easy to load and operate.

BUDGET Truck Rentals

With about 2,800 locations and 32,000 trucks in the United States, Budget Truck Rentals is one of the nation’s largest truck rental companies. It also offers excellent cargo van rental service at budget-friendly prices.

They offer cargo van deals starting at $740/month for 12 months, $865/month for 24 months, and $1,020/month for 36 months.

Types of van available:

  • Ford Transit Cargo, Crew & Passenger Vans
  • Chevy Suburban
  • Chevrolet Express Cargo Vans
  • Dodge Grand Caravan
  • GMC Savana Passenger Van.
  • Mercedes Sprinter Cargo, Crew & Passenger Vans.

ENTERPRISE Truck Rentals

Enterprise rents out trucks, vans, and pickups that accommodate a variety of movement situations. It also offers a budget-friendly rental service for all your cargo van needs.

Enterprise Truck Rentals offer cargo van leasing services starting from $708 for 12 months, $900 for 24 months, and $1,045 for 36 months leasing.

Their cargo vans are:

  • Hino M Series
  • Mercedes-Benz Sprinter
  • Ford Transit Cargo & Transit Connect
  • Chevrolet Silverado
  • GMC Savana Passenger van.

What does commercial van lease entails?

Where can I get best van lease deals right now?

Different companies make offers to prospective clients looking to lease from them. In case you need to lease a cargo van, you can get the best van deals from the following states and locations:

  • Chicago
  • San Francisco
  • Atlanta
  • Denver
  • Dallas
  • Los Angeles
  • New York City
  • Houston
  • Las Vegas
  • Orlando
  • San Diego

Used Van Leasing Vs New Brands?

Go through this comparison before you think this is one of the simplest questions to ask before seeking a cargo van. It is well suited to guide your judgment.

To leave it simple, the down payment and monthly rates make all the difference. Used van leasing rates are way cheaper and more flexible to your budget than brand new vans.

However, the rate of some used cargo vans from certain manufacturing brands could be as high as that of a new cargo van brand.

And then you have the challenge of mechanical breakdowns common amongst used cargo vans.

Most Popular Cargo Van Leasing Brands and Models

When looking to rent a cargo van, it is preferable to rent a popular brand and model. The most popular cargo van leasing brands and models are detailed below.

  • NISSAN NV Cargo VAN

This mid-size passenger van comes with Brake Assist, Bluetooth, and an Infotainment System. A 36-month Nissan NV Cargo lease typically costs $611/month, with a $2,000 down payment.

It also has a 12,000 annual mileage limit. Likewise, the average lease payment over a term of 24 months is $732 per month and $527 per month for a term of 48 months.

  • CHEVROLET EXPRESS Passenger Van

This full-size passenger van from Chevrolet has 3rd-row seating, WiFi, and a backup camera.

A 36-month Chevrolet Express Passenger typically costs $776/month, with a $2,000 down payment. It also has a 12,000 annual mileage limit.

For the same deal, monthly lease payments are $953/month for 24-month and $670/month for 48-month terms.

  • GMC SAVANA 

GMC Savana Passenger’s 2021 model comes with 3rd row, WiFi, and backup camera. A 36-month lease for the GMC Savana Passenger costs $841 per month, plus $2,000 upfront payment.

It also has a 12,000 annual mileage limit. With a 24-month lease term length, the average monthly lease payment is $1,051 per month. But with a 48-month lease term, the payment is $711 per month.

  • MERCEDES BENZ Metris Passenger

The latest model of Mercedes-Benz Metris Passenger Van is equipped with a 3rd row, and Brake Assist, and In-Car WiFi.

The Mercedes-Benz Metris Passenger Van typically costs $648/month, with $2,000 due at signing for a 36-month term.

This offer has a 12,000 annual mileage limit. For the same deal, the average monthly lease payments are $844/month and $551/month with a 48-month term.

  • RAM PROMASTER City Wagon

Ram ProMaster City Wagon’s new model includes Infotainment, Bluetooth, and Brake Assist.

In the case of the Ram ProMaster Cargo Van / Wagon, the average lease payment is $504 per month, with $2,000 due after 36 months.

This offer has a 12,000 annual mileage limit. Also, the monthly payment of Ram Promaster lease is $644/month for the 24-month deal or $437/month for the 48-month deal.

  • FORD TRANSIT Crew Van

For Ford Transit Cargo Van, its latest model has In-Car WiFi, Running Boards, and Forward Collision Warning. A Ford Transit Crew Van typically costs $784/month, with $2,000 due at signing for a 36-month term.

It also has a 12,000 annual mileage limit. For the same deal over a 24-month or 48-month term. The average ford transit lease price or lease payment is $1,025/month and $675/month, respectively.

How to qualify for commercial van financing?

The majority of truck financing is provided by alternative lenders and national banks; smaller banks rarely provide this type of financing.

Loans generally require repayment over a period of 10 years, with interest rates ranging between 5% and 30%.

As with business car loans, the van acts as collateral. While the loan is secured, lenders may not be eager to offer truck financing given the high failure rate of businesses and the high operating expenses.

Questions about Cargo Lease / Credit!

How do leasing a van through a limited company works?

This depends on whether the limited company you are leasing through is applying for an operating or finance lease.

The company you are leasing from might require your limited company to undergo a credit check. If that company has a good credit score, it may enjoy benefits such as lesser interest rates.

15 passenger van lease Vs 20 Seater?

Most vans have a maximum of 15 passenger seats. There are some brands like Dofeng that make vans with 20 seats. But if you need a 20 seater vehicle, you will find more of a bus or a minibus.

There is no doubt that a 20 passenger vehicle will cost more than a 15 passenger vehicle. The van leasing prices, however, depend on the brand and model and whether the vehicle is used or new.

Is used sprinter van financing really worth it?

Yes, used sprinter van financing is worth investing in so far as the vehicle is still in good condition.

How does van leasing no deposit work?What is most important is to lease or buy from a trusted source.

When choosing a brand to buy or lease, look for good brands like the Mercedes Benz Sprinter.

Conclusion

Commercial cargo van leasing is ideal for a growing business.

Ideally, you should opt to work with a flexible company that offers you multiple leasing options with good offers.

Consequently, you will be able to develop a long-term, cost-efficient solution that suits your fleet needs.

And if you need financing, opt for companies that provide financing to their clients.

If your budget is low and you want to lease, it is more cost-effective to lease a used vehicle instead of a new one. Also, if you intend to lease a cargo van without making a deposit payment, remember that you need a good credit score.