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Our dedicated finance experts are waiting to help you with your enquiry. We have relationships with high street lenders and specialist motoring finance houses too, that is why we have helped hundreds of customers secure the best finance deal for their budget.
Our expertise with finance means that even if you have a poor credit rating we can help arrange finance for you.
What is Hire Purchase?
Hire Purchase is an instalment loan in which you own the van, borrow its cost and repay principal and interest over time.
The term of the agreement is flexible with you enjoying the right to fully refund the loan at any time. Furthermore, because you own the van, there is no restriction on mileage or vehicle condition (you are obliged to repay the loan). At lease termination, the van is your to do with what you want.
VAT is payable at lease inception on the price of the van.
What is Finance Lease?
Within the terms of a Finance Lease, you do not own the van, but enjoy its use in exchange for a series of monthly "rental" payments.
The terms of a finance lease may include a final "balloon" payment, significantly reducing monthly payments. However, it is important to remember that this is fixed-term agreement and early termination can incur significant penalty. Your use of the van is limited by mileage and condition restrictions, the violation of which can also incur significant penalty.
Your VAT obligation is payable only on the rental payments themselves.