Company Van Finance

Operating Lease

Operating Lease is similar to Contract Hire but typically comes with a shorter contract term. Businesses can rent the van for a predetermined period, usually up to 3 years, and return it to the finance company at the end of the contract. This option is ideal for businesses that require vans for a limited time.

Pros:

• Shorter contract terms.
• Lower monthly payments.
• No concerns about depreciation.

Cons:

• No option to own the van.
• Potential charges for exceeding agreed mileage or wear and tear.

Tips for Securing the Best Company Van Finance Deals

Finding the best company van finance deal can be a daunting task, but with the right strategy, it doesn’t have to be. Here are some tips to help you secure the best deal:

• Know your business needs: Assess your company’s requirements in terms of vehicle type, contract length, and usage.
• Shop around: Compare different finance options from various finance providers to find the best

Factors to Consider When Choosing Company Van Finance

Before settling on a finance option, there are several factors you should consider:

• Budget: Determine how much your business can afford to spend on monthly payments and any upfront costs.
• Ownership: Decide whether you want to own the van at the end of the contract or prefer the flexibility of leasing.
• Mileage: Estimate the annual mileage to avoid potential charges for exceeding limits in certain finance options.
• Maintenance: Consider whether you want a comprehensive maintenance package included in your agreement or if you prefer to handle it separately.
• Tax implications: Research the tax implications for different finance options, as some may offer greater benefits than others.

Benefits of Working with a Finance Broker

Partnering with a finance broker like First Oak Capital can simplify the process of securing the best company van finance deal. Some benefits of working with a broker include:

• Expert advice: Finance brokers are well-versed in the industry and can provide valuable guidance on the most suitable finance option for your business.
• Time-saving: Instead of spending hours comparing deals and negotiating terms, a broker can do the legwork for you.
• Access to exclusive deals: Finance brokers often have access to exclusive deals and preferential rates not available to the public.
• Personalized service: A broker can assess your specific business needs and tailor a finance solution accordingly.

Preparing for the Company Van Finance Application

To ensure a smooth application process, prepare the necessary documents and information in advance:

• Business financial statements: Lenders may require up-to-date financial records to assess your company’s financial health.
• Business plan: A detailed business plan can demonstrate your company’s stability and future growth potential.
• Credit history: Maintain a good credit history to improve your chances of securing a favorable finance deal.
• Personal identification: Ensure you have the appropriate identification documents for yourself and any co-signers.

Conclusion

Finding the best company van finance deal is crucial for your business’s success, but navigating the various options can be challenging. By understanding the different finance options, assessing your business needs, and working with a finance broker like First Oak Capital, you can secure the most competitive deal for your company van. With the right financing in place, you can focus on growing your business and achieving your goals.