Buying a new van is a significant decision for any business or individual. Whether you’re a self-employed courier, a fleet manager seeking to expand, or a tradesperson wanting to upgrade your work vehicle, finding the right finance solution is crucial. At Steadplan, we understand that every customer’s situation is unique, and we’re here to guide you every step of the way. Below, we discuss key van financing options, factors to consider, and how to choose the best route for your needs.
Hire Purchase is a straightforward option. You pay a deposit at the outset – often 10% (though this can vary) – followed by regular monthly payments. Once all payments are complete, you own the van outright. This approach gives you a clear path to full ownership without balloon payments at the end, making it ideal if you prefer to keep the van long term.
Under a finance lease, you’ll typically pay a fixed monthly sum over an agreed period. At the end of that term, you can decide how best to proceed. You can sell the vehicle on to a third party (with a portion of the proceeds going to the finance company) or continue to rent it under a secondary arrangement. This option is popular for businesses seeking lower monthly costs and greater flexibility in upgrading their fleet regularly.
Contract Hire is another flexible option, allowing you to “rent” the van over a fixed term for an agreed annual mileage. Service, maintenance, and repairs can often be bundled into your monthly fees, taking the stress out of routine upkeep. At the end of the contract, you simply return the van – there’s no concern about residual values or resale.
Similar to Hire Purchase, Lease Purchase generally includes a final “balloon payment” to settle the balance. The monthly payments tend to be lower than HP, but you’ll need to manage that larger payment at the end of the term. It can be a smart choice if you’re managing cash flow and know you’ll have funds available at the end of the agreement.
Before committing to any finance plan, it’s important to assess your business’s financial health. Consider:
• Upfront Costs: How much can you comfortably pay as a deposit?
• Monthly Budget: What can your business afford to pay each month without straining cash flow?
• Long-Term Plans: Are you planning to keep the van for many years, or do you prefer to upgrade regularly?
Having a clear financial picture helps you select the right solution. Our finance professionals here at Steadplan will walk you through projected costs and help craft a deal that fits.
Proper maintenance and servicing keep your van running safely and efficiently. Many finance packages offer service plans that bundle routine check-ups and repairs into the monthly payments. As Steadplan is an authorised MAN main dealer, you can be assured that we only use approved parts, fitted by MAN authorised technicians, to help maintain performance and ultimately resale value.
At Steadplan, we often run promotions and special offers on van finance packages. These can include deposit contributions, lower interest rates, or service-plan discounts. Keep an eye out for these deals – they can significantly reduce your overall costs.
Navigating the world of vehicle finance can feel overwhelming, but you don’t have to do it alone. Our dedicated team of finance specialists is on hand to discuss available options and advise on the best arrangement for you. By considering your deposit, monthly budget, mileage needs, and business goals, we can help ensure your new MAN van is an investment that drives your success.
Get in touch with our friendly finance team today, and let us show you how easy, flexible, and affordable it can be to finance the MAN van that suits your business needs. With transparent guidance and tailored solutions, you’ll be on the road in a reliable, high-performing vehicle designed to carry your business forward for years to come.