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.