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Choosing your next commercial vehicle requires careful consideration. But once you’ve picked your perfect van, you’ll need to decide on the best way to fund it. Van finance is loaded with jargon, so it can be difficult to know what the best option is for you. At Vanwise Group, however, we’re here to help. Here’s our guide to PCP finance, so you can choose your vehicle and finance it with confidence.
If you are purchasing a van for use as a sole trader or in place of a car, PCP – which stands for Personal Contract Purchase – is a great option. It gives you plenty of flexibility and ensures your monthly payments can remain low.
The monthly payments on PCP van finance only cover the depreciation value of the vehicle i.e. how much it is expected to decrease in value over the period of the contract.
You’ll first pay a deposit and choose the length of the agreement you prefer – usually between two and five years – as well as give an anticipated annual mileage. The monthly payments will be based on this, and you will pay them until the end of the contract. When the final payment is made, you have three options:
Knowing all this now you are ready to go on a hunt for your next van. Check our available stock for many different types of pre-owned commercial vehicles.
Panel vans, minibuses, pick-ups, and tipper vans from the biggest makes are all available at great prices.
If you'd like to test drive one of the used vans for sale, have a look at our website to see what we have for you, and call us at our Essex dealership on 01279 216163. Ask us about our vans on finance and van contract hire offers too.
Vanwise Group Ltd is an Appointed Representative of Automotive Compliance Ltd who is authorised and regulated by the Financial Conduct Authority (FCA No. 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows Vanwise Group Ltd to act as a credit broker, not a lender, for the introduction to a limited number of lenders, and to act as an agent on behalf of the insurer for insurance distribution activities only.
We are a credit broker and not a lender. We can introduce you to a carefully selected panel of lenders. We act on behalf of the lender for this introduction and not as your agent. We are not impartial, and we are not an independent financial advisor.
Our aim is to secure a suitable finance agreement for you that enables you to achieve your financial objectives. You are not obliged to accept our offer, and we do not charge a fee for our services.
If you purchase a vehicle, in the majority of cases, we will receive a commission from your lender for introducing you to them which is either a fixed fee, or a fixed percentage of the amount that you borrow.
Different lenders pay different commissions for such introductions and any such amounts paid to us will not affect the amounts you pay under your finance agreement; however, you will be contributing towards the commission paid to us with the interest collected on your repayments. Before we propose you to a potential lender, we will inform you of the likely amount of commission we will receive and seek your consent to receive this commission. The exact amount of commission that we will receive will be confirmed prior to you signing your finance agreement.
All finance applications are subject to status, terms and conditions apply, UK residents only, 18s or over. Guarantees may be required.