Taking over a van lease: get a van on the road in weeks, not months
Need a van for your business without a long wait or a new four-year contract? Here's how taking over another company's van lease works, and what to check first.
New vans can take months to arrive, and most commercial vehicle contract hire runs for three or four years. If your business needs a van now, or only for the next year or two, taking over another company's van lease can be quicker and shorter.
Why businesses hand van leases on
Trades and service businesses change shape quickly. A contract ends, a crew is cut, the business moves to electric vans, or it simply ordered one van too many. Ending a van lease early usually means an Early Termination Charge, so many owners would rather hand the lease to another business, and some will pay an incentive to do it.
How the takeover works
- You find a van lease that fits your business on Swap-a-Lease and register interest.
- We put you in touch with the business through Swap-a-Lease and you agree the handover.
- The funder runs a business credit check on your company and, if it approves, transfers (novates) the agreement into your name.
- You collect the van and pay the same monthly rental for the rest of the term.
The original business has normally paid the initial rental, so you usually start on monthly rentals only.
Things to check on a van
- Load space, payload and roof height. Check the exact variant, not just the model name.
- Racking, ply lining and signwriting. Agree what stays and who pays to remove livery before the van goes back.
- Mileage. Vans often run high mileage. Check the miles driven against the allowance left, as excess mileage is charged at the end.
- Condition. Commercial vehicles get scuffed. Ask for photos of the load area and bodywork, because end-of-lease damage falls to whoever hands it back.
- Maintenance. Find out if the lease includes a maintenance package and when the next service is due.
VAT on van leases
VAT-registered businesses can usually reclaim the VAT on van lease rentals when the van is used for the business. Cars are different: normally only half the VAT is recoverable if there's any private use. Check with your accountant for your situation.
Ready to look?
Browse current van and car lease transfers, or post a Wanted request saying what van you need, your budget and how long you need it for. For brand-new vans and pick-ups, see our New Lease Deals and choose "Vans & pick-ups".