Demand for short-term van leasing rocketed by 2,617% in 2024 compared to the previous year, according to Leasing.com’s latest Insights Report.
The leasing comparison website said enquiries for 18-month leases leapt from just 0.6% of the total in 2023 to 16% last year as customers sought greater flexibility in their leasing deals.
The firm said monthly business van leasing payments dropped by 15% to £317.67 last year and claimed this made short term options more attractive. It also recorded a growing demand for immediate vehicle availability with 59% of customers choosing in-stock vans over factory orders, up from 37% the previous year.
Leasing.com said enquiries for electric vans grew to 36% of the total in 2024, up from 8% during the previous year, and predicted BEVs would account for 35% of the leasing market by the end of 2025.
Leasing.com CEO Mike Fazal said: “Extending the Plug-in Van Grant [into the 2025-26 financial year] is a positive step for businesses looking to electrify their fleets. By lowering upfront costs, it makes electric vans more accessible, particularly for SMEs in logistics, delivery, and trade sectors where margins are tight and cost is crucial.”
However, Leasing.com’s claim of surging demand for electric vans contrasted starkly with the findings of rental and leasing industry body the BVRLA in its Leasing Outlook report.
The BVRLA reported “minimal demand” for electric vans, which it said meant the LCV sector would fall ever further behind the electrification levels set out by the government’s ZEV mandate.
The BVRLA also said demand for overall LCV leasing from its members declined by almost 11% between 2023 and 2024.
