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  1. #1
    Member mattle40's Avatar
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    Default Business startup

    Hi everyone

    I'm Taking the plunge this year (sooner the better) and going self employed, however iv relied on my company van for too long and haven't got one of my own
    So this has to be my starting point.
    The first big problem is my insurance, my quotes are between 2.5-3k
    My options seem to be either buying a van for around 1000 cash and insuring upfront leaving me around 4k out of pocket, with risk of extra costs with breakdowns etc but no overheads as such
    Or buy a new vivaro on hp 2700 deposit and 320pcm for 5 years and this includes 2500 clashback which I could pay my insurance with
    This leaves me 2700 out of pocket but an added overhead of 320pcm
    But I have a valuable asset with warranties and a year to pull money together for next years premium.....

    Please help guys this has been tearing me apart for months now and I just need to forget about doing it or jump in head first....
    I appreciate any input.

  2. #2
    Tilers Forums Arms Member Mike's Avatar
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    Default

    Why are your quotes so high?

    tapatalk on my HTC

  3. #3
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    Default Re: Business startup

    thats 21900. if my maths is right. you might be better off buy a smaller van (berligo etc for 4-5000) and wait for the new one. if you can afford the 320 a month then in a year and a half that one will be paid for and you can get the new van. you can get good vans cheap now that nobody is using them for work

  4. #4
    Member mattle40's Avatar
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    Default

    My insurance is terrible, I got banned 5 years ago and only got licence back last june so am classed as a new driver again.

    As for a smaller van I just think I'd regret not getting a bigger one, I'm so used to lugging timber and plasterboard and I have nowhere else to store materials other than in the van

  5. #5
    Tilers Forums Arms Member Mike's Avatar
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    Quote Originally Posted by mattle40 View Post
    My insurance is terrible, I got banned 5 years ago and only got licence back last june so am classed as a new driver again.

    As for a smaller van I just think I'd regret not getting a bigger one, I'm so used to lugging timber and plasterboard and I have nowhere else to store materials other than in the van
    Have you tried specialist insurance companies for banned drivers? Might be worth a go. Also some companies give you a ncb if you've been driving/ insured on a company van.

    tapatalk on my HTC

  6. #6
    Member mattle40's Avatar
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    Default

    Well it's not actually hight because of the ban as it was over five years ago, it purely down to being a new driver again because iv been driving less than a year. I will look into those tho thanks, especially the no claims.

  7. #7
    Tilers Forums Arms andy allen's Avatar
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    Default Re: Business startup

    personaly, i wouldn't buy a new van, you loose telephone numbers of it, as soon as you drive it out of the showroom.

    how much work do you have lined up, how much do you think you can earn per month, how much disposeable income do you think you will have per month, this will then determin what you can afford.

    have you thought of buying a second hand van from a dealer, with cheaper repayments, or paying your insurence in installments and spreading the cost over the year.
  8. andy-allen-tiling
    Wall and Floor Tiler based in
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  9. #8
    Member mattle40's Avatar
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    Default

    Well I think basically I have the choice of forking out upfront to have no overheads but that's limited to the 4k iv got saved or go finance so iv still got a cushion to pay my bills but added overheads. The real killer is my insurance premium. I will look at second hand from a dealer, do they give warranties? I could get a cheaper finance and pay insurance upfront for a compromise...

  10. #9
    Tilers Forums Arms Member Mike's Avatar
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    Default Re: Business startup

    Quote Originally Posted by mattle40 View Post
    Well I think basically I have the choice of forking out upfront to have no overheads but that's limited to the 4k iv got saved or go finance so iv still got a cushion to pay my bills but added overheads. The real killer is my insurance premium. I will look at second hand from a dealer, do they give warranties? I could get a cheaper finance and pay insurance upfront for a compromise...
    i bought my van from van monster Used Vans and Commerical Vehicles from Van Monster their vans include 6 months tax and 6 months warranty. check what's covered with the warranty as they do vary, some aren't worth the paper they're written on.

  11. #10
    Tilers Forums Arms Member steve187's Avatar
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    Default Re: Business startup

    it seems you have been driving a company vehicle since last June, Your premium will be high because of the ban, was the ban for the five years of did you take a while before applying for your licence again? try different insurance companies and see if a letter from your company as to your driving record since June will help with a reduced quote.

  12. #11
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    Default Re: Business startup

    Hi

    yes that seems very high insurance

    But i would never buy brand new van

    I PAID FOR MY BERLINGO 4000 Great van thats all you need

  13. #12
    Member mattle40's Avatar
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    Default

    Ye that is right although the ban hasn't affected the quotes as it was over 5 years ago and the licence is clean, the ban was a one year ban but just never reapplied until the chance of a company vehicle came up, I will try the letter thing tho. Iv done 20,000 miles in 6 months with no incidents so maybe that would help

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