Is Commercial Vehicle Finance right for me?
When you choose to invest in your Commercial Vehicles you have a few choices – either rent, finance or buy your commercial vehicle with cash.
However, with the cost of both new and used Commercial Vehicles on the rise again, buying outright with cash is not an option for most businesses. Even if they have spare cash, it is a lot of cash to tie up in a purchase that could be spread over terms of up to 7 years (depending on vehicle type).
If you choose to finance your Commercial Vehicle there may be several reasons that led you to this decision.
- Ownership – you may decide that owning the vehicle at the end of the finance is the right thing to do, alternatively you may want to hand it back. Commercial Vehicle Leasing or Business Van Leasing may be appropriate in some circumstances.
- Tax savings – depending on the finance package chosen, there may be tax advantages in financing your next commercial vehicle purchase.
- Choice of suppliers – when you choose to finance your vehicle, you are free to choose your supplier and not limited to just one option that the dealer has.
- Fixed repayments – you are certain of your monthly commitments at the start of the facility, giving you certainty.
- Choice of either a New or Used vehicle – with the rise in cost of used vehicles, the financing of used vehicles is very popular.
Commercial Vehicle Loan or Asset Finance
Although some businesses will use a Commercial Vehicle Loan (business loan) to finance their vehicle, it often makes more sense to use Asset Finance such as Hire Purchase to spread the cost of the asset over the useful life of the vehicle
Can you help a Vehicle, Car, Van or Truck Hire Company ?
Yes, whether you use vehicles as part of your business or hire them out to other businesses, we can help with your finance requirements. Over the years we have helped both Car and Van Hire companies with their finance requirements. We recently helped a family owned mini bus hire company to purchase new mini buses to fuel the demand following Covid.
Examples of Commercial Vehicle Finance we’ve helped with
We have vast experience of helping businesses to fund both their new and used vehicle purchases. Here are some examples of commercial vehicle finance we’ve assisted with:
- truck financing
- business van finance
- lorry finance
- business van finance bad credit
- business loan for vehicle
- commercial vehicle loan
- commercial van finance
- loans for trucks
- commercial car finance
- commercial vehicle finance poor credit
- business van finance deals
- semi truck financing
- commercial truck financing
- commercial auto loan
- commercial truck loans
- second hand commercial vehicle finance
- box truck financing
- commercial car loan
- semi truck loans
- bad credit semi truck financing
- used commercial vehicle loan
- tractor trailer financing
- commercial truck loan for new start business
- business auto financing
- commercial truck financing bad credit
- 18 wheeler financing
- commercial auto financing
- second hand commercial vehicle loan
- lease box truck bad credit
- commercial vehicle refinance
- cargo van financing bad credit
- director car finance
- delivery van finance
- courier van finance
- road sweeper finance
- mini bus finance
Commercial Vehicle Finance Calculator – Van Finance Deals
It’s very difficult to provide an accurate indication on the costs of financing Commercial Vehicles. Several variables including client financial strength, value and age of the vehicle together with amounts of deposit available all contribute to how our lenders price their facilities. Please get in touch for more information on pricing.
Some of our lenders will also consider clients that require commercial vehicle finance with bad credit or new start business.
Don’t forget as we have over 40 lenders on our panel we will often be more competitive with finance than a Commercial Vehicle Dealer.
Commercial Vehicle Dealer Finance
If you are a Commercial Vehicle Dealer, we would love to talk with you as we may be able to offer your clients a finance option when purchasing equipment from you.
Do you only help finance Commercial Vehicles ?
No, at Business Finance Direct we are a broker dealing with over 40 specialist lenders. Our lending panel lets us help businesses from a wide variety of sectors to get the finance they need for their purchases. We can help clients arrange finance for Vehicles, Machinery, Commercial Property and to assist with cash flow fluctuations.
Case Study for a South Wales based Van / Car Hire Company
For several years we helped a South Wales based Van and Car Hire company source the finance they needed to ensure a constantly updated vehicle fleet.
As the cars and vans were generally used for short term hire, the mileage would rapidly increase on them, and it was important for the client to be able to switch the cars before they were generally 3 year old. This was the age when the running costs would start to increase therefore they sought to replace before this time.
We arranged several credit lines with lenders which mean’t that the client was able to keep a constant flow of new vans and cars added to their fleet without the need to get each individual vehicle separately underwritten.
We specialise in Bus, Coach & Minibus finance for small operators, schools or local / national bus and coach operators. You’ll find out about Bus, Coach and Minibus finance here.
We offer a Free, no obligation service so please do get in touch and let us help you with your commercial vehicle requirements.