What is Vehicle Finance?Published on 13th March 2018 2018-03-13T12:38:35+00:00 - Last update on 13th April 2020 2020-04-13T19:01:29+00:00
Looking to acquire a business vehicle? Then you’re not alone. Many UK based businesses use vehicles for all sorts of purposes, making them an invaluable asset to have. However, if you need more than one this could prove challenging for your finances. Whether you need just one vehicle or if you’re seeking to expand your existing fleet, you could apply for Vehicle Finance. Offering you access to a wide range of specialist business finance products, Vehicle Finance could give you the funds you need to achieve your goals. So, no matter which sector you operate in or what type of vehicle you require, here’s what you need to know before applying for Vehicle Finance.
- Why should you apply for Vehicle Finance?
- What finance solutions are available with Vehicle Finance?
- How are Vehicle Finance agreement repaid?
Why should I apply for Vehicle Finance?
Many UK based businesses use vehicles for all manner of purposes, ranging from deliveries, customer services, transport, construction to site management. However, the obstacle standing in your way could be the vehicle’s retail price, which usually needs to be paid upfront. Regardless of whether you already possess the necessary funds or not, using your own capital can be risky as it may cause issues for your working capital or future growth projects. However, with Vehicle Finance, you could purchase or borrow any vehicle that your business requires whilst spreading the total cost over an agreed period of time. So, no matter what you’re hoping to achieve, allow Vehicle Finance to drive your business forward.
What finance solutions are available?
What makes Vehicle Finance so useful for your business is the range of solutions it offers to match the requirements of your business. By choosing to support your venture with Vehicle Finance, you could gain access to Hire Purchase, Leasing and Contract Hire options. So whether you’re looking to purchase, borrow or even release equity from an asset that you already own in order to support a purchase, Vehicle Finance could be what your business needs to extend its reach.
How do I repay a Vehicle Finance agreement?
The finance solutions that are available through Vehicle Finance are gradually paid over an agreed period of time using Monthly Rental Payments, plus interest. What this means is that you’ll need to pay an agreed amount of money back to the vehicle provider at the end of each month until the agreement expires. Although Leasing agreements usually last up to 5 years, they can be extended to 7 years for particularly expensive vehicles. As such, Vehicle Finance can be considered as a cost-effective way of purchasing or borrowing vehicles for your business.
Looking to finance your business vehicles with Vehicle Finance?
Although vehicles can bring plenty of benefits to your business, the amount that the seller may be asking for could punch a hole in your business’ finances. Yet, rather than stretching your working capital to the limit, you could take another route towards acquiring the vehicles you require. Whether you’re seeking to purchase vehicles or borrow them over a period of time, applying for Vehicle Finance could be the way forward. But with so many products and providers to choose from, how can you be certain you’re getting an agreement that’s appropriate for your business, and at a competitive rate? Simple - we’ve already done the legwork for you. So if you’re looking for a luxury car, tractor or even a dozer, apply for Vehicle Finance today or find out more with Rangewell.
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