Van Finance Basics

Fresh Van Finance has created relationships with key providers of van finance in the United Kingdom and our aim is to gain approval for van finance for our customers, despite their outstanding credit history. We have built our reputation by helping our customers find a finance option for the vehicle they want, which is affordable and tailored to each individual.

If you require a new or used van for your business or simply need a larger vehicle for your recreational pursuits, Fresh Van Finance can find the finance to enable you. Applying is a simple process; when you have provided us with your details and the details of the vehicle you would like, we undergo some simple checks before sending your details to our panel of lenders, so that we can tailor a finance plan for you.

At Fresh Van Finance, we can source some of the most competitive van finance rates around. For an estimate or reference of what you are likely to pay for your vehicle use our online finance calculator. You can choose your van from any reputable commercial dealer or alternatively we can put you in touch with a reputable commercial dealer in your area. Whether you are a sole trader or a limited company, whether you want to buy a new van or upgrade your current van; you can complete our online finance application form.

Simply call us today or fill in our online finance application form and let the team here at Fresh Van Finance help to get you behind the wheel of the van you really want!

Types of Van Finance

Finance Option 1 – Contract Hire

A lease or long-term rental agreement.  It is essentially not too different to renting a vehicle for a day or a week. You do not own the vehicle; it remains the property of the finance company at all times.  At the end of the agreement, the vehicle goes back to the finance company, just like a rental vehicle would.

Finance Option 2 – Hire Purchase (HP)

A higher purchase, or HP, is the most straightforward form of vehicle finance. The borrower puts down a deposit, and the balance is divided into a series of monthly payments. The loan period varies, typically between 12 months and 6 years. Once all payments have been made you have the option to simply hand back the vehicle to us or to take title of the vehicle.

Finance Options 3 – Personal Contract Purchase (PCP)

PCP gives you the chance to lower your monthly payments and make your budget go further. There are also more options at the end of your agreement: the vehicle can be handed back, it can be part exchanged or the final payment can be made and you can keep the vehicle

Finance Options 4 – Finance Lease

With a Finance Lease, the vehicle remains the property of the finance company, with the vehicle effectively hired out to a business. Finance lease differs from contract hire in that you usually ‘balloon payment’ at the end of your lease agreement, which pays off the leasing company’s investment. You agree how much your balloon payment will be, depending on whether you want higher or lower monthly payments during the lease agreement.

van driver

What is My Credit Rating?

Your credit rating or credit score, is something that shows us how you manage your debts and helps us determine your reliability of re-payments. It is calculated from a variety of things including your current financial position as well as seeing if you meet your monthly repayments consistently. A good credit score will help lower the interest rate on your monthly payments for your van. Those with poor credit ratings may have to be charged at a higher interest rate or may not be approved for finance at all. However Fresh Van Finance will help you get finance for your van, no matter what your credit score.

Finding finance with bad credit

If you are worried that your poor credit score will result in an inability to finance your van, you shouldn’t be. No matter what your credit rating, we will always aim to find a finance package that meets your needs regardless of your financial history.

I’ve been refused van finance

Even if other lenders and finance companies have refused you finance, that doesn’t mean you should give up – we may be able to help. Although no-one can guarantee finance approval, Fresh offers a wide range of finance options that could be perfect for you.

Looking for Some Advice?

If you need some advice please fill out the fields and we will get back in touch with you to answer any questions you have.