Van and Vehicle Financing – What To Expect

Whether you’re a new business, or an established start up, financing a vehicle or van for you or your business can always be a minefield.

Where do you start?

Here’s a quick overview on how to apply for a finance product, and the process that’s involved.

Firstly, if you’re considering any type of finance agreement, it’s vital that you get the right advice from experts you can trust.

At Capital Fleet Solutions we also believe that by giving you an overview of what to expect, you can ask the right questions and make sure you’re completely happy with any product you choose.

So, why would you choose vehicle finance in the first place?

Buying a van outright is a large capital outlay, and if you don’t have the available cash then it’s just not an option.

Normally your vehicle is a key part of your business, you need it to be on the road and not and costing you money in repairs.

Financing can be an affordable option, and with different products available you can really tailor what you need to your budget and requirements.

Financing is a really popular way of running a vehicle for many businesses.

However, before you start applying straight away there are a couple of things to think about.

Budget

A fundamental. Don’t enter into any agreement without properly budgeting the total cost. Each agreement is a different length and has different terms including some with milage restrictions, so if you’re looking at an agreement with a balloon payment at the end, for example, make sure your business planning allows you to do that.

Deposit

Just as important as budget, it’s definitely worth thinking about what kind of deposit you want to put down. In most cases, the more deposit you put down, the lower the monthly payments, but depending on the product, sometimes it may be better for your cash flow to put down less. If you have an idea of what you want your deposit to be, this will make the process of applying easier.

Finance Partner

There are numerous finance brokers out there, but it’s so important to choose a partner that has a good reputation and the right experience. If you use Capital Fleet Solutions to do this, we have finance companies we’ve developed relationships with, so we can give you the best guidance.

Fair wear and tear

This mostly applies to the finance product you select, but should you wish to hand the vehicle back at the end of the agreement, we always advise businesses to look through what the requirements are for returning the vehicle.

CHECK OUT OUR VIDEO ABOUT WHAT'S INVOLVED IN APPLYING FOR VEHICLE FINANCE...

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