FINANCE OPTIONS

Understanding Vehicle Finance: Your Essential Guide

Vehicle finance offers various financial products allowing businesses to acquire vehicles such as cars, vans, and trucks without outright purchase. This enables companies to efficiently manage cash flow while utilizing essential transport assets. SMEs can benefit from improved operational flexibility and access necessary transportation without a substantial initial investment. For more on asset finance, visit our asset finance page.

Secure up to £500,000 in Vehicle Finance with Funding Agent.

  • Quick and easy application process
  • Loan disbursed within 24 hours
  • No additional charges for early repayment
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What are the benefits of Vehicle Finance?

Vehicle finance provides SMEs with cash flow management improvements, potential tax advantages, and operational flexibility. Businesses can secure funding between £5,000 and £500,000 with decision times from one to seven business days. For solutions that fit your needs, explore our business loans options.

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Flexible repayment options
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Access to new vehicles
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Improved budgeting

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What are the different types of Vehicle Finance?

Hire Purchase

Hire Purchase allows UK-registered SMEs to finance vehicles from £5,000 to £500,000 over 12 to 60 months. Eligibility requires a good credit score and a valid business plan. To learn more, visit our page on asset finance.

Hire Purchase

With interest rates from 3% to 9% APR and decision times of one to three business days, Hire Purchase is ideal for acquiring company cars and delivery vans. It's particularly useful for the retail and logistics sectors. For comprehensive asset finance solutions, see our asset financing options.

Finance Lease

Finance Lease provides funding amounts between £10,000 and £250,000 for 24 to 72 months. Companies must demonstrate vehicle necessity and maintain solid credit. Discover more about this option on our equipment finance page.

Finance Lease

With interest rates from 4% to 12% APR and decisions typically in two to five business days, Finance Lease suits sectors like construction and hospitality for essential heavy machinery and shuttle services. Learn how to benefit from this and similar products on our equipment finance page.

Contract Hire

Contract Hire is designed for SMEs needing flexible vehicle use over 12 to 48 months. It involves fixed monthly fees rather than traditional interest rates. Discover opportunities for your business on our invoice financing page.

Contract Hire

This option provides short to medium-term access to vehicles without ownership, suitable for fleet management in tech and retail sectors. Decision times range from one to three weeks, offering manageable financial commitments. Visit our page on invoice financing for more details on similar offerings.

What is Vehicle Finance?

How to Apply for Vehicle Finance

Applying for vehicle finance involves submitting business financial documents and proof of trade to demonstrate creditworthiness. Approval times range from one to seven business days, but this is dependent on documentation quality. Find application assistance on our business loans page.

Compliance and Regulations

Vehicle finance products are regulated by the Financial Conduct Authority. Providers must comply with the Consumer Credit Act, ensuring transparency and fair practices. Our expertise ensures you navigate these regulations efficiently. More details can be found on our home page.

Determining Borrowing Capacity

Your borrowing capacity ranges from £5,000 to £500,000, influenced by creditworthiness, trading history, and vehicle type. Rate advantages can vary based on these factors. For a detailed assessment of your options, explore our unsecured business loans.

FAQ’S

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