Finance

Finance

CVM Vans specialise in vehicle finance for individuals and businesses. As a SAF Approved dealer we have been accredited with expertise in vehicle finance and being able to advise on the right finance product for you and your budget.

With a panel of lenders offering flexible finance at competitive rates we can tailor a solution that gets you into your perfect vehicle.

Hire Purchase

Hire Purchase is a finance option offered by CVM Vans. This is a simple finance option and comes with many benefits:

  • Fixed monthly payments suited to your budget
  • Available over payment periods between 24 and 60 months
  • Able to borrow between £3,000 to £50,000
  • The interest rate is fixed and competitive
  • Available on vans up to 10 years old at the start of the agreement
  • There are no mileage restrictions
  • Protection under Consumer Credit Act

Hire Purchase with VAT Assist

CVM Vans are able to offer VAT registered customers VAT Assist, a revolutionary finance product where you can get your new van now and pay the VAT equivalent amount later.

This means you can free-up your cash-flow by deferring the VAT equivalent amount payment to later in the agreement, after you have reclaimed the VAT amount from HMRC.

VAT Assist works like a traditional Hire Purchase (HP) loan, with the only difference that you will not generally need to pay a deposit (although you can if you wish). The equivalent of the VAT due is then taken on the third instalment as part of the payment plan.

Some key information about VAT Assist:

  • Only available on van purchases up to £20,000 + VAT
  • Maximum term of 60 months
  • Maximum vehicle age at purchase is 10 years
  • Maximum vehicle mileage at purchase is 150,000
  • Balloon for VAT equivalent amount is due on the third payment instalment

For more information about VAT Assist and how it could benefit your business, please do not hesitate to contact the CVM Vans team.

Finance Lease

Finance lease provides the option for VAT-registered users to pay for vans off balance sheet, spreading the cost of the VAT to the monthly payment rather than requiring payment up front as is the case with a purchase product.

You can choose to lease your van with or without a balloon payment due at the completion of the primary lease period. Monthly payments will be reduced during the lease if you choose the balloon option.

Once the primary lease period has ended, you will have the option to sell the van on behalf of the finance company and pay them a percentage of the profits or extend the lease, paying only a peppercorn rental.

Note that if you choose the balloon payment option to reduce your rental, this will need to be settled as part of either of these options.

Contact our team today to discuss your new or used car and van requirements and to discuss the ideal finance option for your situation.