VAN HIRE PURCHASE
Spreading the cost of your new van is simple with our finance options. Our Van Hire Purchase is a popular choice for business owners and sole traders serving all industry sectors. The process of obtaining a Van Hire Purchase product is just as straightforward as the management of the financial solution across the length of your contract term.
After agreeing an initial deposit and agreement term, your monthly repayment amount will be set leaving you to drive your vehicle away and put it to great use within your company following approval. With contract terms of between 1 and 5 years you have the freedom, flexibility and financial security needed to invest in a van that’s best suited to your needs and balance your business’ books accurately and efficiently. Better yet, after your term is over, you own your van outright, and with the freedom to part exchange, resell privately or continue using the vehicle, the rewards just keep on coming.
The flexibility of Van Hire Purchase makes this finance solution particularly attractive. With the ability to borrow any amount above £1,000 and set monthly fixed repayments that work with your budget, it’s an option that’s enjoyed by business owners at all stages, whether they have an established fleet or this is the first commercial vehicle addition. Van Hire Purchase is available on new and used commercial vehicles aged up to 14 years old, meaning you have a greater range of vehicles to choose from.
The initial outlay relating to this finance solution is also low, with many 0% deposit options available, subject to status. As a Van Hire Purchase customer you also pay back your repayments at a fixed interest rate, with no hidden charges or fluctuating costs to contend with. After your 1- to 5-year contract term, you own the vehicle, providing all repayments have been made.
Is it right for me?
Our Van Hire Purchase product offers an excellent way to budget with confidence, with the exact monthly repayment amount laid out at the very start of your term and in accordance to your individual budget. All those payments don’t go to waste either. You are paying towards a vehicle that you will own outright at the end of your agreed contract term.
It is important to remember however that you are not protected against depreciation as a Van Hire Purchase customer. The price of your vehicle could fall unexpectedly due to market changes. You also don’t own the vehicle until your final payment has been made with your van able to be repossessed if you don’t keep up with the repayments agreed as per your contract. As part of your Van Hire Purchase agreement, you must take out fully comprehensive insurance on your chosen vehicle.
For further information about this van finance product or any other of our flexible finance options, please contact our team direct.