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Benefits of Vehicle Finance

Published on 19th June 2018 - Last update on 5th November 2018

If you’re looking to purchase a new vehicle for your business, supporting the upfront costs that may be involved could be a struggle. But if you’d rather not dip into your cash reserves, you could explore another pathway towards achieving your vehicle-based goals. With Vehicle Finance, you could gain access to a wide range of business finance solutions enabling you to purchase or even borrow any type of vehicle that your business requires. Plus, by applying for Vehicle Finance, you could also benefit from a number of other useful advantages. So if you’re thinking about applying for Vehicles Finance, here are just some of the ways that your business could benefit:

  • Provides access to a range of finance solutions
  • Spreads out the total cost of the vehicle
  • Adds value to your business
  • Suitable for a variety of financial situations

What finance solutions are available with Vehicle Finance?

By applying for Vehicle Finance, your business could gain access to a variety of solutions, presenting you with a number of different ways to acquire additional vehicles. This makes this form of finance invaluable for many UK based businesses, regardless of size and sector. So by deciding to apply for Vehicle Finance, your business could benefit from Hire Purchase, Leasing and Contract Hire. Therefore, no matter what type of vehicles your business needs - van, limo, forklift - Vehicle Finance could offer you the tools necessary to expand your services.

Looking to gain your first business van? Or are you seeking to expand your fleet and further your business’ reach? Apply for Vehicle Finance or learn more with Rangewell.

How cost-effective is Vehicle Finance?

Although Vehicle Finance will cost your business more than purchasing the vehicles upfront from the seller, on account of interest charged on the product itself, it does allow you to spread the total cost over a period of time, which could go a long way to taking the pressure off your business' working capital. So, depending on your chosen product, you’ll either need to make Fixed Monthly Repayments or pay a Monthly Rental at the end of end of each month for an agreed term. As such, Vehicle Finance helps you to acquire the vehicles that your business needs, and work it into your budget. Therefore, Vehicle Finance offers you the confidence to acquire higher quality vehicles that you may not have been able to afford otherwise.

How does Vehicle Finance add value to my business?

Vehicles offer an array of benefits to add value to your business. As well as enabling you to deliver or offer your goods and services outside of your local area, they could also be used for more heavy duty tasks such as clearing land, moving supplies and site maintenance. Plus, they can also be used as a way to market your business and increase brand awareness, helping you earn more sales and clients. So by using Vehicle Finance you’ll be able to enhance the capabilities of your business and extend its reach into unexplored markets.

How flexible are the criteria for Vehicle Finance?

Vehicle Finance is a secured form of business finance, as the security is the vehicle itself, and so is suitable for a wide range of businesses and situations. The security gives lenders the confidence in your commitment to settling the agreement as, if you default on your agreement, the lender can simply seize the asset concerned. Therefore, before entering into any arrangement you need to be certain that your business can afford the agreement or you could potentially lose access to the vehicle.

Thinking about applying for Vehicle Finance?

Access to vehicles can be essential to many businesses on account of the many benefits that they bring. However, purchasing them using your own funds can be an uphill struggle due to the cost. So rather than piling the pressure on your working capital, applying for Vehicle Finance could offer you a suitable alternative. Offering you access to a range of finance solutions, Vehicle Finance helps you to spread out the costs involved, giving you the confidence to acquire all the vehicles that your business needs to succeed. So whether you’re looking for your first business vehicle or expand your fleet, apply for Vehicle Finance today or find out more with Rangewell.

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David Harrison

David Harrison

Content writer
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