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February 24, 2016 at 4:27 PM

There is no other vehicle as versatile as a van. For leisure or business, owning a van opens up a host of possibilities that cars just don't deliver. If you have the cash to buy one outright, then there are so many styles that choosing one can be a daunting task. Unfortunately, not all of us have that sort of money lying around the house or office. For most of us, the best way to buy a van is to use finance. The good news is that financing your purchase has become so sophisticated that it is easy to do and is very affordable.

Hire purchase

Under a hire purchase finance deal the purchaser will get possession of the van he wants to buy, instantly, without having to pay all of the money up-front. A small deposit may or may not be paid at the beginning, and then the balance is paid in instalments. The final instalment will see the ownership of the van pass over to the purchaser, but until then he is hiring it, and each payment is classed as a hiring charge. This method of purchase has many advantages. Here are some of them.

Convenience

The purchaser benefits with this mode of finance because paying by instalments spreads the cost. For businesses on a tight budget, or low-income families, then this is an ideal way of acquiring a new or second-hand van.

Small businesses

In today's economic climate, the difference between profit and loss is finely balanced. By not committing the full amount of purchase money on a van, the money saved can be utilised for use elsewhere. This is terrific for sole traders and small manufacturers, who can buy machinery or other goods that are also needed to make the business grow.

What to look for when using a finance company

There are many deals around for financing van purchase in the UK. Some are better than others, so here are some tips on what to look for in a finance company:

  • Experience
  • Look for a company that explains how it works and are willing to spend time helping you with any questions
  • The speed of decision on your enquiry is important. You don't want to be waiting days for an answer
  • Competitive rates of Interest
  • Flexible terms to suit you and your particular needs

The great news is that Austin Trading in Swindon has over 40 years experience in this sector and offers an individualised funding package to suit everybody's needs. Maybe it would be worthwhile to pop in for an informal, no-obligation chat if you are thinking of buying a new van or trading in your old one.

 



Tags: Money Solutions Finance Blog
Category: Buying Guide