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Newsletter

Small businesses urged to lease commercial vans

By Tom Farley, Mon 16 Jan 2012 - Published in Car Insurance

Small business owners are being urged to lease commercial vans as a more "cost effective" option during economic uncertainty.

With the precarious financial situation the country is in business owners are being extra vigilant in how they spend their budgets and van insurance is one of the key concerns.

Officials at the British Vehicle Rental and Leasing Association (BVRLA) believe that company bosses are "confident enough" to rent vehicles if they anticipate new work.

Toby Poston, head of communications at the organisation, said that many firms were apprehensive to invest thousands of pounds on a van but would be open to leasing the vehicle.

He said: "One of the key advantages of renting or leasing a van is the ability to fix costs. For a low monthly, weekly or daily payment, you get the use of a van for an agreed duration or mileage that suits your business."

In November, Renault announced it would invest €28 million (£23.9 million) into its electric test centre in order to fund a new fleet of low-cost energy-efficient light vehicles.