Van Finance, Somerset
Buying a used van can be a complicated matter. Not only do you have to find the van you want, but there is then the question of how you want to finance it, HP, PCP, Leasing ?
Paying for a van by finance can be an excellent way of making a vehicle more affordable, but it is an area where you may benefit from having a discussion with an expert who can explain all the different options and products to you. Here at Ricky Fenby we offer a wide range of finance products.
Through a consultation with one of our fully trained sales staff we can ensure we recommend the best product to suit your needs.
This is a straight forward way for a business to finance a vehicle. Paying an initial deposit (can be a low as the VAT) followed by fixed monthly repayments, Hire Purchase allows you to budget monthly expenditure precisely in advance. It has worthwhile tax advantages and if ownership is a priority this is an extremely cost effective method of borrowing.
Personal Contract Purchase (PCP) is effectively Hire Purchase with a guaranteed future value (GFV). This GFV payment reduces the monthly repayment, enabling you to buy a more expensive vehicle than you might otherwise be unable to afford.The benefits of a PCP include: Enhanced cash flow, Vehicle ownership and the same tax advantages as HP but repayments can be structured to suit your business.
Finance Leasing can be one of the most cost effective options, if you need full use of a van for minimum outlay but do not require final ownership. An initial deposit is normally expressed as monthly rentals in advance and a final lump sum/balloon payment is usually included. A finance lease can be extremely flexible.