BUYER’S GUIDE

How you finance your van can be crucial to your bottom line. So explore the different finance options on the market based on how you want to account for your van within your business.

On book – this is where your van is registered against the business as an asset by an outright purchase or HP agreement.

Off book – here the van isn’t registered against the business. It could be a contract hire or a leasing agreement.

Outright purchase

This could be with or without a HP agreement. Buying means there are no mileage restrictions or contracts. And no third-parties involved. You can also sell your vehicle at any time.

Contract hire

A great worry-free option that lets you just get on with business. There’s no capital outlay, admin, road tax payments or depreciation. You don’t even have to sell your van. It’s all sorted for you. That’s all on top of the following:

• No large upfront payments 
• Affordable monthly payments – easy to budget 
• Maintained contracts available 
• No disposal risk on costs or admin 
• VED (road tax) is included across the contract 
• No admin – handled by the lease company

This is where you pay monthly and make a final outstanding payment. You can choose how much this is. The higher it is, the lower your monthly payments. And when the agreement ends, you can do one of three things:

• Sell to a third party and pay off the outstanding amount
• Ask your finance provider to sell it for you
• Continue on a peppercorn rental