Van Finance
7 Ways Of Van Finance
Most of our competitors tend to be leasing franchises that all sell the same “specials” that tend to be basic vans purchased at the same time by the hundred. Often the vans you are offered have sat around a while. They tend to prefer contract hire as it locks you into them for some time.
We work via banks rather than by these franchises so we are not as tied in so can offer more of an array of van finance deals. This is why our vans are fresher and deals better. There is no leasing franchise taking a cut.
All methods are tax deductible. All methods you should really have GAP Insurance Policy in case the vehicle is written off. Many commercial insurance policies will not pay new for old.
- Hire purchase – VAT down or VAT deferred . HP is a great way to actually buy a van. If your VAT registered claim the whole VAT amount back within three months. Sometimes a pre registered van is cheaper. Click Here.
- Contract Hire – This is more popular on cars than vans. Many customers think there is no credit check but there is. Its better for large fleets and doesn’t offer any advantage for less than fleets of 10. If you want to change over 10 vehicles in one go and they are basic then please get in touch. Click here for contract hire.
- Lease purchase. Not always the best deal as some manufacturers offer discounts that cannot be used on lease purchase. Its just like HP but with a final payment and once it’s paid you get automatic ownership. It’s better once again for VAT registered businesses especially if you want a T6.1 for example to keep at the end and convert to a motorhome. Sometimes a pre registered van is cheaper. Click here
- Finance Lease – By far the most popular method as it attracts the lowest payments . It’s gets the largest discounts from manufacturers same as contract hire. However you can fit accessories many of which you cant n contract hire
- Operational Lease – Is just like finance lease however you can hand back the vehicle at the end. Some of our Mercedes vans are like this
- Asset Finance – We can finance many products not just vans
- Credit Limit – Pre approve your van purchases 90 days in advance. Useful for example if you have a contract tender.
GAP Insurance
If you write a vehicle off in say year one the insurance company may well pay you less than the settlement value. Thus through no fault of your own you may need to buy a older cheaper van to reach the same monthly payment. Click Here to buy a GAP Policy
