*NOW BOOKED FOR 2024* Transitmania 15 @ Santa Pod 19th to 21st July 2024 *ALL DETAILS HERE*


Mk 7, or lease a Transit Custom??

An area for members to hang out and chat, discuss anything transit related!

Moderator: Luke

Mk 7, or lease a Transit Custom??

Postby Karst » Sun Mar 11, 2018 8:05 pm

Hi Folks,

Being now in the middle of a legal shenanigans with a dealer over selling me a van not fit for purpose, which also had a bogus MOT, I am hiring a van at the moment for work.

So in the meantime I'm looking at all my options for a van. Initially I was after a Mk 7. But I'm wondering now about leasing a Custom. I've had a quick look through the forums, and couldn't find anything really obvious - Please direct me to relevant posts/threads about this option if you know them?

I mean, £220 per month is pretty much what it costs to buy your own van, look after it, and lose money on it when you sell it.

I'm just really interested in people's experiences with these options, Mk 7, or Custom.

Any input would be greatly appreciated, it's a really big decision for me, one that impacts my ability to work and it obviously has a long term impact. (sorry, I know I'm stating the obvious!)

Please help???

Karst.
Ford Transit Mk 7 Panel van, ex-posty's, 57 reg, 2007. Duratorq TDCI 2.2 (85PS)
Karst
Transit Aficionado
Transit Aficionado
 
Posts: 358
Joined: Thu Feb 18, 2016 6:52 pm
Location: Watford

Re: Mk 7, or lease a Transit Custom??

Postby ake » Mon Mar 12, 2018 7:28 am

The newest MK7 was built in 2013.

A new Custom could have been built 2 weeks ago

A 2013 MK 7 could have had 3 owners, done 100k miles and never had a service

A new custom will have had zero owners and done delivery miles

If you buy the van you can sell it any time you want

If you lease a van you are tied to a contract with a minimum term ie 2 3 or 4 years

If you lease a van you will have an agreed maximum annual mileage

We run a fleet of 15 Transits.

The ones that will do low miles through their life are contract hired
The high milers get bought out right

Only you can make this decision, but if you have long term stable work, need less than 20k miles per year, then I personally would be looking at lease/contract hire
Ford Transit Custom 280S Trend 105ps
Does this train stop on Merseyside?
ake
Site Moderator
 
Posts: 41833
Joined: Wed Aug 06, 2008 8:19 pm
Location: The fair city o' Perth

Re: Mk 7, or lease a Transit Custom??

Postby Karst » Mon Mar 12, 2018 9:44 am

Thank you very much ake,

I doubt I'll even do 10K miles per year. I'm a gardener and most of my work is very local.

To be continued.......
Ford Transit Mk 7 Panel van, ex-posty's, 57 reg, 2007. Duratorq TDCI 2.2 (85PS)
Karst
Transit Aficionado
Transit Aficionado
 
Posts: 358
Joined: Thu Feb 18, 2016 6:52 pm
Location: Watford

Re: Mk 7, or lease a Transit Custom??

Postby man le-mans » Mon Mar 12, 2018 3:55 pm

Personally think it depends on how much you looking to spend on a MK7,you can get good vans you just need to look about and go through it or get a inspection carried out on it.
I don't like contract hire but that's just me and more people do it than buying
MK8 L2H2 T350 TREND 68 plate silver 130bhp
Mk7 MWB M/R T350 TREND 2010 SILVER 115BHP
MK7 MWB M/R T350 2009 BLUE 115BHP (crap)
MK6 MWB M/R T280 full electric pack silver 2003 85BHP
Smiley face T reg L/R SWB ex BT
man le-mans
Transit Devotee
Transit Devotee
 
Posts: 1624
Joined: Wed Aug 22, 2012 10:31 pm

Re: Mk 7, or lease a Transit Custom??

Postby Karst » Mon Mar 12, 2018 10:59 pm

I've gone through the motions today of a contract lease finance agreement, in effect... I've agreed to it with the option to cancel. Sometimes it works better on me if I make it feel real to get the full impact of it.

I think I'd do it if I earned double what I do, but I'm just not comfortable with it. It's like £270 a month for 5 years, then pay off the balance of about £7,000. Nope, there's no flipping way I'm gonna I'm gonna cope with that on £19 per hour.

I'm going to have to take my chances with on older second hand, but just not buy it in a flapping rush, and get it thoroughly checked over first.
Ford Transit Mk 7 Panel van, ex-posty's, 57 reg, 2007. Duratorq TDCI 2.2 (85PS)
Karst
Transit Aficionado
Transit Aficionado
 
Posts: 358
Joined: Thu Feb 18, 2016 6:52 pm
Location: Watford

Re: Mk 7, or lease a Transit Custom??

Postby Altransit » Mon Mar 12, 2018 11:07 pm

Karst wrote: It's like £270 a month for 5 years, then pay off the balance of about £7,000.

I take it that that figure is VAT inclusive :?: If you're not VAT registered, I don't think a lease makes much sense, when there are lots of pre-owned older models out there to buy, which don't have added VAT :)
1994 Mk4 SWB 115 Minibus 70ps Di (R.I.P.)
1997 Mk5 SWB 115 Minibus 70ps Di (Gone, but not forgotten!)
2004 Mk6 SWB T280 Medium Roof 85PS 2.0 TDDi - Vantunered (Also gone)
2008 Mk7 SWB T280 Medium Roof 85PS 2.2 TDCi - Also Vantunered
User avatar
Altransit
Site Moderator
 
Posts: 40199
Joined: Tue Oct 17, 2006 12:23 am
Location: Bicester, Oxfordshire, UK

Re: Mk 7, or lease a Transit Custom??

Postby Karst » Tue Mar 13, 2018 12:02 am

Yeps Altransit, including VAT. I am most decidedly not VAT registered!
Ford Transit Mk 7 Panel van, ex-posty's, 57 reg, 2007. Duratorq TDCI 2.2 (85PS)
Karst
Transit Aficionado
Transit Aficionado
 
Posts: 358
Joined: Thu Feb 18, 2016 6:52 pm
Location: Watford


Return to Transit Talk



Who is online

Users browsing this forum: Majestic-12 [Bot]

This site contains affiliate links for which we may be compensated.