Van Finance Explained

When you buy your next van, one decision you will need to make is how to pay for it. Paying the entire cost upfront is one option, while many prefer to pay in easy, small instalments.

At Eden Commercials, we have helped hundreds of our customers to secure the best van finance deals in Cumbria, and if you would like any advice or guidance, our dedicated team of experts will be happy to help.

Why Purchase a Van on Finance?

The major appeal of van finance is that you can drive away a vehicle without paying the full cost straight away. Your finance provider will buy the van on your behalf and you will pay them back over time.

How Does Van Finance Work?

Typically, you will pay the VAT as a deposit, although we do work with one finance provider who will fund this for you. You will borrow the rest of the money from a lender and the amount borrowed will be divided by the number of months in the contract term to give you each monthly instalment. At Eden Commercials we tailor van finance around you, selecting a deposit and agreement length that suits your circumstances.

When you come to the end of your agreement, and have made all of the repayments, you will be offered an ‘option to purchase’ fee, a final payment which transfers ownership of the vehicle from the finance provider to you.

Is Finance the Right Option for Me?

Van finance is an excellent option because it allows you to drive away a better vehicle, which you might not have been able to afford otherwise. You will not have to save up for a long time and can start driving your van straight away!

However, you must be sure that you will be able to keep up with the regular instalments before you enter the agreement and be aware that you will not be able to sell the vehicle until the finance has been settled.

If you are looking for unbeatable van finance deals in Cumbria, get in touch with Eden Commercials today or apply online!