How to Choose the Right Van Finance Deal

At Auto Capital, we offer some of the best van finance deals in Stanmore to make your payment more manageable. If you are considering financing your next van, this article could help you find the right option for you.

Budget

Before deciding which type of van finance is right for you, it is important to have an idea of how much you will be able to afford on a monthly basis. The simplest way to do this is to look through recent bank statements and subtract your average expenditure from your average income.

In addition to your general expenditure, you also need to account for the cost of owning a van. Factor in tax, fuel, MOT and maintenance payments for an accurate estimation of the amount you’ll be able to spend on the actual van.

Conditional Sale

A conditional sale (CS) or hire purchase (HP) agreement requires an initial deposit to be put down on the van. The remaining cost will then be paid in regular instalments over a set number of months and once the final payment has been made, you will be the legal owner of the van,

This type of van finance deal is straightforward and can be quickly and easily arranged at the van dealership. It is ideal for people who wish to own the van at the end of the contract.

Finance Leasing

Van finance leasing is effectively a long-term rental agreement. Your lender will own the vehicle and you will make monthly payments to use it.

As your payments are not contributing to the total cost of the van, they will be much lower than they would in a CS agreement. Van finance leasing deals are suited to VAT registered businesses which are likely to want to upgrade the vehicle after a few years.

The best van finance deals in Stanmore are waiting for you at Auto Capital! Get in touch to find out more or make a finance application online!