Cash or finance to buy your next van?

When looking for your next van, it is worth considering what the best route of purchase will be. Is a cash sale the best plan or could finance be a good option? We have weighed in on the matter and you can read our thoughts below.

Is Cash King?

For many years, buying a van with your hard-earned cash has been the norm and it is still a popular buying route today. There are multiple advantages to buying a van with cash, the biggest one being it is a one-off payment. Once you have bought your vehicle, you don’t have to think about monthly payments and the car is yours to drive.

You also won’t have any interest to pay on the motor, meaning the price on the screen is the price you pay. The benefits of buying a van outright seem favourable but it isn’t always the best option.

Is Finance the Future?

Financing a van means the payments are spread over a number of months instead of one chunky payment. The main advantage here is you can often afford a more expensive or larger vehicle, without having to find a larger amount of cash to fund it.

By doing your research, you can source and negotiate the right finance deal for your circumstances and budget, so you don’t necessarily end up paying a lot more than you would with a cash payment.

Purchasing a van through finance also means that you don’t have a large sum of money tied up in a van, often with options to upgrade and change your van at some point during your finance agreement, depending on the lender and circumstances.

If you want to find out more about finance on a used van in Stanmore, get in touch with the team at Auto Capital who will be happy to assist you in your search.