Van Hire Purchase Explained
Van Hire Purchase Explained
- Van Hire Purchase and Van Lease Purchase are the same
- Generally it is harder to get a balloon with this type of finance
Out of 6 main funder we have only one does this.
If they fail you, then you cant have a balloon! - The VAT must be paid in advance plus any deposit
- The VAT is reclaimed only if you are VAT registered
- The van can be depreciated 100% in the first year,
and nothing significant after this - Van hire purchase is the easiest way to get credit
Many customers who fail leasing and contract hire will still pass on HP
Especially for lower amounts with bigger deposits - Many customers are a little aprehensive about van hire purchase simply as they have been fed, by us cheaper payments on leasing with balloon for so long. Banks prefer HP as it is easier for them to understand.
