Dictionary

A form of business financing where you pay off the passenger van in installments. You are the economic owner of the vehicle, and after payment of all installments and any final payment, the van is fully yours. Financial lease can be attractive for entrepreneurs who want to invest in their own vehicle.

With an operational lease, you pay a fixed monthly amount for the use of the passenger van. Depending on the agreement, costs such as maintenance, repairs, and insurance may be included in the monthly amount. At the end of the lease term, you typically return the passenger van.

A down payment is the amount you pay yourself at the start. This means you need to finance less, which can result in a lower monthly payment. The amount of the down payment may also be taken into account when assessing your lease application.

A balloon payment is an amount that remains at the end of the lease period. By agreeing to a balloon payment, your monthly lease payments can be lower. However, please keep in mind that this amount must still be paid at the end of the term.

The term is the period during which your lease agreement runs. Common terms are, for example, 24, 36, 48, or 60 months. Which term suits you best depends, among other things, on your desired monthly payment and how long you intend to use the passenger van.

For a VAT vehicle, the VAT is stated separately on the invoice. For entrepreneurs entitled to VAT deduction, this VAT can be offset under certain conditions. This can be relevant when financing or purchasing a passenger van.

With a margin vehicle, VAT is not listed separately on the invoice, so you cannot reclaim it separately. This is common with used passenger vans and other pre-owned vehicles.

If you use a business passenger van for private purposes as well, you may be subject to a taxable benefit. The amount depends on, among other things, the vehicle, the list price, and the applicable tax regulations. Which rules apply to you depends on your personal and business situation.

The number of seats indicates how many people you are permitted to drive in the passenger van according to the vehicle registration, including the driver. Passenger vans are available, for example, as 6-, 7-, 8-, or 9-seater versions.

A wheelchair accessible van is a passenger van specially equipped for transporting one or more wheelchair users. Depending on the model, the van may be equipped with, for example, a wheelchair lift, ramp, and securing systems. When making your choice, pay close attention to the interior layout, the number of seats and wheelchair spaces, and the required certifications.

With a used vehicle lease, you finance or lease a used passenger van. This can be an interesting alternative to a new van, for example due to the lower purchase price. When making your choice, pay attention to factors such as the year of manufacture, mileage, model, condition of the vehicle, and the monthly payment.

An electric car runs entirely on electricity and has no traditional combustion engine. When choosing an electric passenger van, important considerations include range, charging speed, charging options, and daily use.

A hybrid car combines a combustion engine with electric propulsion. Depending on the type of hybrid, the car can drive short or long distances electrically. This can be interesting if you want to drive partly electrically but also want flexibility for longer distances.

Acceptance is the assessment of your lease or financing application. This may involve evaluating, among other things, your company, financial situation, the chosen vehicle, the term, and any down payment. Each application is assessed individually; therefore, acceptance is not guaranteed in advance.

A quotation provides you with an overview of the chosen vehicle and the proposed lease or financing structure. This may include, among other things, the monthly payment, term, down payment, any final payment, and conditions.

TCO stands for Total Cost of Ownership and refers to the total costs of a vehicle over its period of use. This involves looking not only at the monthly payment or purchase price, but also at factors such as fuel or electricity, maintenance, insurance, taxes, depreciation, and financing costs. This allows you to better compare different passenger vans.