Finance

Buy-A-Van offer finance at rates that other companies just cannot offer.  Below are the finance options we have available to our customers.

Hire Purchase

If ownership is a priority then this is the most cost-effective route to purchasing your vehicle.

• Low deposit – from only £500.
• Flexible repayment period – up to 60 months in most instances.
• You can choose to settle off loan at any time.
• No mileage restrictions.
• Fixed monthly repayment aids budgetary control and cash flow.
• Repayments are not subject to VAT.
• Ownership of vehicle will pass when the agreement is completed.
• 100% of interest charges can be offset against taxable profits.
• Vehicle is shown as an asset on your balance sheet.
• Writing down allowances are claimable; Year 1 – 50%  Year 2 – 25%  Year 3 – 25%  etc…  etc…
• If VAT is put down as deposit it is reclaimable (VAT registered customers).
• Leaves you with additional lines of credit.

Our Hire Purchase Package Is Unique.

We have negotiated a £500 only deposit on commercial vehicles with no VAT to pay up front. We can also offer £nil deposits on finance for cars. (Subject To Status).

95% of our customers take out Hire Purchase agreements secured against their vehicles. The advantages of doing this as opposed to taking out a personal loan include;

• If you are unable to make the repayments the finance company will take your vehicle back to recover your debt, not your house.
• If you want to pay off your loan early you will not be charged all of the interest.
• There is a clause on your credit agreement that allows you to hand your vehicle back to the finance company and wipe off your debt providing you have paid a certain percentage of the loan off already.
• You leave your personal credit line clear for further borrowing.

Finance Lease

This facility provides some of the benefits of ownership with the flexibility of rental.

• Deposits are usually the equivalent of three rentals, but can be any amount.
• Repayment period of up to 60 months.
• Monthly rental payments are subject to VAT – VAT is reclaimable quarterly (VAT registered customers).
• Rentals are 100% allowable against taxable profits.
• On balance sheet.
• At the end of the agreement the vehicle must be sold to an independent third party, the third party is then invoiced on your instruction and you will receive 95% of sales proceeds (ex. VAT).
• Alternatively you may be able to return the vehicle to the finance company who will then sell it and return 95% of the net sale proceeds to you (ex. VAT), after collection of fees and deductions.
• Fixed monthly rentals aid cash flow and budgetary control.