Finance
Ideal Commercials is a used van dealership near Petersfield offering van finance in Hampshire to suit a range of budgets. Our committed and accomplished team are on hand to make purchasing a new commercial vehicle easier than ever, with a range of different finance packages available to our customers, and repayments possible over a period of anywhere between 12 and 60 months.
What is Van Finance?Â
Van finance involves borrowing the cost of a van from a lender (minus a deposit), which enables you to drive it whilst paying the amount back over a series of instalments, usually monthly, and with interest added. This brings new and used vehicles that would otherwise be unaffordable within reach for many.Â
Van Finance Options
Hire Purchase (HP)
Hire Purchase lets you spread the cost of a van over monthly payments. You usually pay a deposit first, then make fixed monthly payments. Once the final payment is made, the van is yours. This option is best if you want to own the van at the end and prefer simple and predictable payments.
Lease Purchase (LP)
Lease Purchase is similar to Hire Purchase but with lower monthly payments. This is because a larger payment is left until the end of the agreement. You take ownership of the van once that final payment is made. It’s a good option if you want to keep monthly costs down and are happy to pay a larger amount at the end.
Contract Hire (CH)
Contract Hire is more like renting a van long-term. You pay a fixed monthly amount for an agreed time and mileage, then return the van at the end; you don’t own the van. This option suits businesses that want lower monthly payments, no worries about selling the van later. It provides the flexibility to change vehicles regularly.
The Benefits of Commercial Vehicle Finance: Â
Spread the Cost
The main and most obvious benefit of purchasing a commercial vehicle through new or used van finance is the way in which it can save you from spending out in one big lump sum. By breaking the price down into monthly instalments, the cost becomes more manageable, and the vehicle therefore more affordable.Â
Access Newer Vehicles
By spreading the cost, you’re able to drive away in a newer vehicle that you may have otherwise been unable to afford.Â
Tax Relief on Business PurchasesÂ
Those purchasing a vehicle for business can claim tax relief on any interest charged; these vehicles are classed as an asset, which allows you to write it down against taxable profits.
How to Apply for Vehicle Finance
Applying for used or new van finance involves choosing the vehicle you want to purchase, determining what you can afford to pay each month, and undergoing a credit check before being offered deals by lenders based on those variables. Don’t worry, our team can talk you through it!
Why Choose Ideal Commercials for Van Finance in Hampshire?Â
Whether you’re a tradesperson looking for a new van on business van finance, or a big business owner after a brand new fleet, we can offer you a decision on the day. The finance packages we provide to our customers are always centred around fixed payments, ensuring you are never surprised by hidden charges.Â
Our years of experience in the industry, as well as our connection with lenders, ensure that you get the best deal custom-fitted to your circumstances. Plus, we’ve got a huge variety of commercial vehicles to choose from!
Get a van finance quote today
Find a finance option that suits your budget with help from our Hampshire-based team.
Frequently Asked Questions
We hope our van finance page and the accompanying ‘financing through a dealership’ video have proved helpful. Below we answer some of your most frequently asked questions but of course, if we haven’t answered a question you may have, then feel free to get in touch. Â
Q: What finance options do you offer for business vehicles?
A: We understand every business is different. That's why we work with multiple trusted lenders to find the perfect van finance package for your needs. Whether you're looking for Hire Purchase (HP), Lease Purchase (LP), or Contract Hire (CH) solutions, our expert team can talk you through all the options.
Q: Can I get van finance with a less-than-perfect credit score?
A: Yes! We believe everyone deserves the chance to grow their business. Through our partnerships with numerous lenders, we're often able to secure competitive finance deals even if your credit history isn't spotless. Let's have a conversation about your situation and explore the options available.
Q: What if I want to upgrade my van before the finance term ends?
A: We know business needs change. That's why our finance agreements include flexible early settlement options, making it easy to upgrade your vehicle when the time is right. This flexibility helps you plan ahead and ensure your fleet always meets your business requirements.
Q: Can I use my own finance company?
A: While we're happy to work with third-party finance companies sourced by you, we charge a small admin fee of £199 + VAT for this service. However, our extensive network of lenders often means we can match or beat external rates – so it's worth comparing!
Q: How much deposit do I need for van finance?
A: Deposit requirements vary based on your circumstances and chosen finance product. Some of our deals start from as little as 10% upfront payment, and we may even be able to offer nil deposit options for established businesses with strong credit profiles.
Q: What documentation do I need to apply for van finance?
A: Typically, you'll need:
- Proof of ID and address
- Last 3 months' business bank statements
- Basic company information
- For limited companies: Latest filed accounts
- For sole traders: Last 2 years' tax returns
Q: How long does the finance application process take?
A: We pride ourselves on quick decisions. Many applications receive an initial response within hours, and we can often complete the entire process within 24-48 hours, getting you on the road in your new van faster.
Q: Do you offer finance for multiple vehicles?
A: Absolutely! Whether you need one van or an entire fleet, we can create a tailored finance package to suit your needs. Fleet solutions often come with additional benefits and competitive rates, so let's discuss your requirements in person or over the phone.