Business Van Finance

Same Day Finance

Rates from 6% APR

£0 Deposit Required

Company vehicles are a vital asset and the lifeblood of many businesses. From small businesses to rapidly expanding fleets there is often one common problem; how to finance the purchase of a new van. Well, thankfully, we can help.

At Union Business Finance, we understand that time is money and you can't afford to wait weeks for financing. That's why we offer same day business van finance with rates from as low as 6%!

Why use business finance to buy a van?

One of the biggest advantages of using business finance to fund the acquisition of a new company vehicle is that it doesn’t tie up the other lifeblood of business; cashflow.

Commercial vehicle finance offers a variety of benefits and advantages that can help save time and money, including:

Flexibility:

Commercial vehicle finance is very flexible, which means that you can tailor it to suit your specific needs.

Competitive rates:

Business van finance provides competitive interest rates, which can help save you money.

Tax benefits:

Depending on the type of loan, companies may be able to claim tax deductions.

Fast and easy to obtain:

Unlike some other types of financing, company van finance is relatively easy to obtain and we can often help secure funding the same day.

What finance options are available for purchasing a company vehicle?

At Union Business Finance, we provide two main options hire purchase or fianance lease. Whichever option suits you depends on whether you want to ultimately buy or lease your business van:

Hire Purchase

Hire purchase is a great asset financing option if you know you want to retain ownership of the vehicle once the loan has been repaid in full.

You will own the vehicle at the end the of the agreement
Easy to budget for with regular monthly payments
Finance of up to 5 years
Rates from as low as 6%
Funding available from £10,000 to over £500k

Finance Lease

Finance lease provides you with the flexibility to increase your fleet size today without being obligated to purchase the vans at the end.

You have until the end of the agreement to determine if you want to keep the vehicle
You can purchase the vehicle with a final payment; typically around 1% of the capital cost or on month payment
Easy to budget for with regular monthly payments
Can provide tax advantages
Funding up to 5 years
Rates from as low as 6%
Loans from £10,000 to over £500k

How our business van finance works

We know how important it is to be able to secure finance fast. Therefore, our process is as streamlined as possible.

Locate a vehicle you wish to purchase and provide us with the required information
We will work with our network of over 100+ lenders to find you the best deal for your specific needs
If approved, we’ll aim to get the funds to your chosen supplier the same day

View eligibility criteria

Eligibility criteria varies depending on the lender. We will be happy to explain options in more detail based on which funding solution best fits your situation, but as a guide:

For start-up businesses:

Lenders typically require:

Evidence of experience in your field
Proof of new contracts as early stage income
Evidence of affordability
A good personal credit score

For established businesses:

Lenders typically require:

2 years trading history
Evidence of affordability
Good business & personal credit scores

Note: For vehicles over 3.5 tonnes, or if you plan to transport passengers, you may also require an operator's licence.

Testimonials

"Mr Erol from Kismet Wholesale in Lewisham, approached us seeking finance for a vehicle, as his vehicle was not ULEZ compliant. The business was in need of a van within the next 48 hours due to outstanding deliveries for vegetable and wholesale products. We had managed to secure the funding within the same day due to the customers outstanding accounts. We managed to source them with funding via a very good lender Investec Asset Finance PLC. Who were happy to lend on a Hire purchase agreement with deposits as little as 10%. By funding this vehicle, we managed to secure the business with charges for not being ULEZ compliant and also reduce their fuel costs. "

FAQs

Do I need to pay a deposit?

Not generally. Many of our customers opt to pay a 10% deposit, but there is no obligation by most lenders.

Do I need to choose the vehicle first?

Ideally, yes, as this makes the application process quicker and easier. However, if you know roughly the type of vehicle (make and model) but haven’t yet found an available vehicle to purchase, then we can work with that and update your agreement once your ideal vehicle has been found.

Is the funding secured against the vehicle?

Yes.

Can I get van finance if I am a start-up?

Yes, you can! It can really strengthen your application if you already have a good personal credit score, evidence in your industry, and can show you already have contracts or orders lined up to provide you with a predictable income. Being able to show you can afford the monthly repayments for the duration of the loan is also important.

Can I get van finance if I’m self employed?

This really depends on your company’s legal status. Generally our lenders are tightening their belts with Sole Traders, but we will be happy to take a look to see which lenders will be happy to lend to the business.

Can I use van finance for a pickup truck?

Yes.

What are the interest rates?

The interest rates are currently fluctuating more than normal due to instability in the economy and to reflect Bank of England base rate rises. Currently, we are able to secure funding from around 6% and up depending on the individual requirement and circumstances, but please contact us before making any commitments so that we can provide you with an accurate and personalised quotation.

How quickly will my application be processed?

We know how important it can be to secure funding fast; especially when purchasing a vehicle for business use. Therefore, in many cases we are able to offer same day business finance. We would recommend you contact us before midday to maximise our ability to complete your application within that time frame.

Can I use my company van for personal use?

Generally speaking, from a finance perspective, yes, you can. However, there may be other factors to consider such as whether your van insurance permits this.

Why wait?

Apply for transport finance today

Apply today for a van funding via Union Business Finance and we will aim to secure funding for you the same day.

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Disclaimer

Aintu Ltd T/A Union Business Finance is an independent Asset finance broker not a lender, as such we can introduce you to a wide range of finance providers depending on your requirements and circumstances. We are not independent financial advisors and so are unable to provide you with independent financial advice. Aintu Ltd T/A Union Business Finance will receive payment(s) or other benefit from the finance provider if you decide to enter into an agreement with them. Aintu Ltd T/A Union Business Finance is an appointed representative of AFS Compliance Ltd which is authorised and regulated by the Financial Conduct Authority under number 625035. Aintu Ltd T/A Union Business Finance aims to provide our customers with the highest standards of service. If our service fails to meet your requirements and you would like to report a complaint; please click on the link below;

https://www.afsuk.com/asset-finance-solutions/contact/complaints-procedure/