Should I Lease or Purchase a Wheelchair Accessible Van?
Deciding whether to lease or purchase a wheelchair-accessible van is an important decision. Not only will it affect your out-of-pocket costs, but it may also impact other factors, such as maintenance and insurance.
Both options have pros and cons that you must consider before committing to either. Let’s look at whether you should lease or purchase a wheelchair-accessible van for your family or organization.
Leasing a Wheelchair Accessible Van
Leasing a wheelchair-accessible van is a great option for those who plan on using it for only a short period, as leases typically last from 24 to 60 months. This short-term commitment makes it an ideal choice for people who need a van temporarily or cannot commit to purchasing one outright.
It also offers lower monthly payments than if you were to purchase a vehicle, as well as other benefits such as lower down payments, fewer maintenance costs (as they are usually in the lease agreement), and no need to worry about selling the vehicle at the end of the lease period. However, there are drawbacks to leasing as well; since it is not permanent, you may have difficulty obtaining financing, or you may not have full ownership rights over the vehicle.
Purchasing a Wheelchair Accessible Van
Purchasing a wheelchair-accessible van is a great option for those planning to use it long-term. Owning your vehicle gives you full rights over it, so you can customize it however you like without worrying about the leasing company’s restrictions. Additionally, when you purchase your vehicle, you will not be tied down by any long-term contracts or obligations.
The downside of this option is that it typically requires higher upfront costs than leasing (such as down payments) and may require additional maintenance costs throughout its life span. You will also need to consider how long you plan on having the vehicle to determine what type of warranty works best for your needs. Some warranties are limited to how many miles they cover, while others may be more extensive but cost more money upfront.
Deciding Between Leasing or Purchasing
Ultimately, deciding whether to lease or purchase a wheelchair-accessible van depends on your needs and budget. If you need the vehicle for a short period and want to avoid long-term commitments, then leasing may be the right option. On the other hand, purchasing may be the better option if you plan on having the vehicle for a longer period and want full ownership rights. Consider your needs and budget carefully before deciding between leasing and purchasing.
Mike Erdman Mobility has new handicap vans for sale if you’re looking to purchase. We also have a range of affordable, accessible van rentals if you prefer a short-term solution. Contact us today to help you find the perfect van to fit your needs.
