Van Lease - advise needed urgent

[momon121]

I have leased van that’s coming to the end of its tenure. I’ve had for 5 years paying 300 pre-covid prices.

During lockdown I enrolled on an IT course, the course provider promised a job of 90% guaranteed providing some certs were completed.

Course provider failed to deliver on their promises so I stopped payment to the finance company which caused my credit file to be affected.

Now my term is nearly up on the lease and most lenders will not seen provide credit. However one lender has approved £21K £500 a month repayment over 60 months.

Another has offered me HP on a 22K vehicle with no deposit, paying monthly of £577 over 60 months. Both look steep and I don’t want to outlay any working capital.

Any advice or suggestion will be greatly benefitted please

 

[JEREMY HAWKE]

Under the circumstances you have the best offer you are going to get .
Due to our annual milage and despite a good credit rating I pay long term rental at £1100 a month per van

 

[momon121]

Under the circumstances you have the best offer you are going to get .
Due to our annual milage and despite a good credit rating I pay long term rental at £1100 a month per van

£1100 that’s so much, why so high

 

[MBE2017]

£1100 that’s so much, why so high

Probably unlimited mileage and courier work, the vans will be really used, not parked up outside some office half the day. Most vans get 3-5 yrs with 100k, as a courier you might exceed std mileage in under a year.

 

[momon121]

Is that per van you paying

 

[JEREMY HAWKE]

Our busy vans do 80k plus a year on UK and European roads and the 100 per cent support along with the supply of new or late vans fits our business model perfectly.
I have a couple of older vans that I own myself on 16plates and now they are getting on a bit they are reliable but costly on parts . One this month requiring a 3.5K gearbox replacement
While the rental on these vans looks a lot of money it is not a lot of money when you take into account that these vans are our main business and not a business tool to carry tools to site ect

 

[momon121]

80K a year is staggering, where do you get the time ?

 

[JEREMY HAWKE]

80K a year is staggering, where do you get the time ?

3 runs between Falmouth and London a week is 1800 mile
1 run a week to South of France or Northern Italy can be 2000 mile in a week
Now as I type the small is van going to Birmingham a nice easy job (part time) 380 mile round trip
We travel everywhere yet visit nowhere!

 

[WaveJumper]

Wish I was in Falmouth this morning instead of stuck here behind my desk

 

[momon121]

3 runs between Falmouth and London a week is 1800 mile
1 run a week to South of France or Northern Italy can be 2000 mile in a week
Now as I type the small is van going to Birmingham a nice easy job (part time) 380 mile round trip
We travel everywhere yet visit nowhere!

That is some serious travelling. Isn’t that strange i person can travel everywhere and visit nowhere. You sound like me ?