Financing Your Van

Which Finance Option is Best For You?

 

Financing Your Van

 

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Variable Rate Hire Purchase – a highly flexible product based on Hire Purchase, but it is far more adaptable to your changing needs. You can pay in any amount up to the outstanding balance. Monthly payments are recalculated based on the new balance.

Finance Lease – your asset is hired to you for a fixed period of time. Payments cover both the initial cost of the asset and the finance charges. At the end of the contract, the proceeds from the sale of the asset, less a small fee, are returned to you.

 

Operating Lease/Contract Hire – Your vehicle is hired to you for a fixed period. Monthly payments based on the difference between the price of the asset at the start of the agreement and the projected residual value, plus any finance charges. Thus only a portion of the value is being repaid which avoids any large initial outlay and reduces the average monthly payments.

Hire Purchase with Balloon Payment – you pay a deposit, the actual amount of which is negotiable, but by choosing to make a balloon payment at the end of the agreement, you actually reduce the amount you pay monthly.

Hire Purchase – you pay a deposit, the actual amount of which is negotiable, with the remaining costs plus any charges to be repaid in regular monthly instalments.

*This is only the briefest of summaries of the available cover; please contact us directly for our full terms and conditions including exclusions.

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