Should I Use a Van Finance Agreement to Buy My Van?

At Cheshire Vehicle Supplies, we don’t just supply great used vans, but we also offer competitive van finance deals.

Commercial vehicles can be vital to the work that you do, but they can also be a hefty business expense. Van finance agreements allow you to spread the cost, rather than you having to fork out the full amount in one go.

Pros of Van Finance

If you choose to finance your van, you will be able to divide the cost between a series of monthly instalments. Many businesses prefer this option because it will allow them to purchase a better, more expensive van, without having to save up for a long time. This is especially useful if you want to create a good impression with customers with a recently manufactured, high-specification model.

With this method, you won’t have to put all of your money into a vehicle at once, which might not leave you in the best position financially. 

Cons of Van Finance

The drawback of van finance is that you will be entering a long-term agreement and you will need to make payments on a monthly basis. Whereas, if you pay with cash you’ll pay once and not have to worry about repayments.

During a van finance agreement, the vehicle will also legally belong to the lender until all of the repayments have been made.

Van Finance or Cash?

As long as you are comfortable with making the commitment and you are someone who is good at paying back borrowed sums, van finance is an excellent option, which can make a large cost far more manageable.

Although, if you currently have the cash to buy the exact van you want without putting yourself in a difficult financial situation, you may prefer to simply make the one-time payment, and not have to worry about future instalments.

Get in touch to find out more about the van finance deals available at Cheshire Vehicle Supplies or apply for van finance online!