Used Van Finance In Swindon

Spread the cost of your new business van over several months with a finance package to make the payments more affordable. With over 40 years of finance product knowledge, our staff are fully trained finance professionals able to give you impartial advice on the best way to purchase your next LCV.

We can arrange funding whether you’re a business or private customer with quick decisions on your application – usually within minutes. Our customers prefer our tailor-made finance solutions with competitive fixed interest rates, so they know how much needs to be paid every month.

As a preferred business partner for MotoNovo Finance – an established and reputable leading finance company – we can offer you a range of finance options for your new van including Hire Purchase (HP) and VAT Assist.

*When available from finance partners. Terms and conditions apply.

What is VAT Assist?

Reserved for VAT registered business customers only, VAT Assist works in a similar way to Hire Purchase, but you can defer the equivalent VAT amount to your third payment. By this point, you should have received your quarterly VAT rebate.

The biggest advantage with this finance product is that you don’t need to pay a deposit, although you can if you want to reduce the monthly repayments.

As with HP, there are flexible repayment terms (from one to five years), fixed interest rates and a nominal ‘option to purchase’ fee to become the legal owner of the van once all payments have been made.

Similarly, you can take a one month payment holiday using MotoNovo Finance. Your first instalment will be pushed back with interest calculated from the first payment date. The deferred VAT will then be required in the fourth month from when the agreement started.

What is Hire Purchase (HP)?

After putting down an initial deposit – no minimum or maximum amount required – you will make fixed monthly payments for an agreed term between 12 and 60 months. The longer the term, the smaller the repayment figure.

Once all the payments have been made, there will be a small ‘option to purchase’ fee to officially transfer the ownership of the van into your name. Until this point, you are not the official owner of the vehicle.

HP is a recommended finance option for those with a poor credit score because the loan is secured against the van rather than the person. Van owners can also benefit from unlimited mileage unlike other finance products which enforce mileage restrictions.

With MotoNovo Finance, you can enjoy a one month payment holiday before your first instalment is due and the interest is only calculated from the day you start making payments.

What are the advantages of HP?

  • You’ll be able to drive away a car that you may not have managed to buy outright.
  • Unlike a PCP or PCH contract, you won't need to estimate your mileage at the start of your Hire Purchase agreement, so you'll avoid excess mileage charges.
  • Once you’ve made your final monthly payment, including the option to purchase fee, you'll have full ownership of the car.

What should you consider when opting for HP?

  • Monthly payments may be higher than some other finance options, such as PCP, as you're paying off the full value of the car.
  • You won’t be able to sell the car without settling the finance.
  • You won’t own the car until you have made all of your repayments.
  • You’ll need to keep the car properly insured, maintained and in your possession until the full value is paid off.

Can I settle my HP agreement early?


The short answer is yes, you can end your finance early. There are different provisions within each finance agreement that allows you to do just that. If you have got through two-thirds of the way through your finance agreement, the options to end the finance agreement early open up.

For a Hire Purchase agreement, there is an option of paying it off early through a settlement fee. A settlement fee covers the cost of any remaining unpaid instalments and interest payments remaining on the agreement. Once the settlement fee is paid, you take full ownership of the car early.

Under a Personal Contract Purchase agreement, you can also pay a settlement fee for bringing the agreement to an end early. After that, you can choose to hand the car back or you have a second option. Through a PCP agreement, you can take full ownership of the car by paying off the remaining Guaranteed Minimum Future Value also known as a balloon payment.