Guide to Commercial Vehicle Finance
Introduce Yourself
Tell us about the vehicle(s) and a little bit about your company.
We Introduce Ourselves
We will contact you and introduce ourselves, collect any final details to conduct a soft search and provide you with a quote.
Receive an Appoval
If you’re happy with the quote, we will complete a hard search with our lenders and provide you with a finance approval within 48 hours.
What are the finance options available?
There is three main finance facilities available with business vehicle finance; they fall under the asset finance category.
Hire Purchase
The most popular option, a Hire Purchase Agreement is when you pay affordable monthly instalments for your vehicle over an agreed period of time. Once the agreement has ended and all the payments have been made, you will have full ownership of the business vehicle.
This type of finance is also popular when purchasing heavy machinery, plant, construction and commercial equipment.
Leasing Finance
At the end of a Lease Finance agreement, you will have to return, replace or continue using the vehicle. If you wish to continue using the asset, this will be classed as a secondary rental period and you will pay the lender to rent the asset.
With a Lease finance agreement, you will pay the VAT for the vehicle over the duration as part of the payment structure. Whilst for a Hire Purchase, you’re more commonly paying the full VAT applicable upfront along with a deposit.
Asset Refinance
Asset refinancing is when a finance company takes ownership of an asset that you own in full and in exchange, they will provide you will a lump sum of working capital. Your business will make agreed monthly payments over an agreed term and once all the payments are completed, you will own that asset again.
You will still have access to the asset that you’ve refinanced but on paper, the finance company will own it.
Cashflow Loans (e.g. Business Loan)
Another finance facility that may be available is a Cashflow finance solution such as a business loan. This is when you receive a lump sum of working capital which can be used however you see fit.
Business Vehicle Finance Calculator
Use our Business Vehicle Finance calculator to see how you could potentially be paying for a commercial vehicle.
For a more accurate and personalised quote, get in touch with our team and we will be able to provide you quote tailored to your needs.
Commercial Vehicle Calculator
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Calculator Disclaimer
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by Amplo Commercial Finance. It does not take into account your personal or financial circumstances.
What's the difference between Leasing and Hire Purchase?
The main differences is to do with future ownership, VAT treatment, depreciation and servicing. Read our Hire Purchase vs Leasing – Which is better? Guide to learn more about the similarities and differences between the two.
What types of vehicles can be used with finance?
Any vehicle that will be used for business purposes you’re very likely to be able to purchase with finance. From Ford Rangers and Land Rover for Directors to attend meetings to courier vans, large HGVs, chemical tankers and agricultural vehicles such as tractors, trucks and trailers
Second hand trucks finance is also available as well for the purchase of second hand vans and cars.
If you’re purchasing a vehicle straight from a dealership and they’re offering finance, we’re more than happy to complete a no-obligation comparison quote.
Will my finance facility have a balloon at the end of the agreement?
No not every agreement has a balloon – they’re optional depending on the customers preference. It can apply to both Hire Purchase and Leasing Finance.
Is there a VAT only Deposit Option?
With some lenders, your deposit for the commercial vehicle can be the VAT amount.
Who have we arranged Business Finance for?
2x Iveco Trucks
- £29,000 Hire Purchase
- 36 Months
- Another point
Whitby Morrison Ice-Cream Van
- 45,000 Hire Purchase
Matthew was an absolute pleasure to deal with in the purchase of my new van, no stuffy banks to deal with.
Chemical Tanker
- £125,000 Hire Purchase
- Crossland Tankers Chemical Tanker
- Added to our client’s big existing fleet
Director Vehicle
- £48,000 Hire Purchase
- Land Rover Defender
- 36 Month Term
2020 Ice Cream Van
- Asset value of £75,000 & amount advanced of £61,625
- 30 Month Term
- Injection of capital to enable our client to bulk buy stock for the upcoming season
Director Vehicle
- £41,544 Hire Purchase
- VAT only Deposit with some lenders
- Affordable monthly payments
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23-25 Market Street
Crewe, CW1 2EW