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%!
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:
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 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
Rates from as low as 6%
Finance lease provides you with the flexibility to increase your fleet size today without being obligated to purchase the vans at the end.
Rates from as low as 6%
We know how important it is to be able to secure finance fast. Therefore, our process is as streamlined as possible.
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:
"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. "
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.
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.
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.
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.