Hybrid & Electric Van Finance
EVs are becoming a regular feature on UK roads, with the focus on emissions and diesel engines their popularity is only going to increase.
Changing to an electric or hybrid van can save you a lot of money in the long run, providing they suit the type of driving you do. If an electric van doesn't offer the driving range that you require plug-in hybrids offer a low emission alternative.
Why Switch To Electric?
- Savings of us to 80% in terms of the basic running costs
- There are fewer moving parts which reduce maintenance costs, and because of regenerative braking, they also tend to save on the wear to brake pads.
- They are environmentally friendly, diesel and petrol powered vans spit out harmful emissions whereas electric vans don't.
- As they reduce carbon footprints they have effectively been endorsed by the government and as a result are example from congestion charges.
- Plug-in van grant, the grant provides a discount of up to 20% (or a maximum of £8,000) on the cost of your new electric van.
- Electric vehicles also benefit from no road tax.
Hybrid & Electric Van Finance Products
Hire Purchase
Hire Purchase is a hiring agreement between the customer and finance company secured against the vehicle. The customer has the option to own the vehicle at the end of the agreement subject to payment of the option to purchase fee
Lease Purchase
Lease purchase is a form of conditional sale agreement, which means that the regular payments are similar to a lease/rental agreement but you will own the car at the end of the deal. You may be asked to pay a number of monthly payments at the start of your agreement and a sum is usually deferred to the end of the agreement. The deferred sum will be determined by the age and mileage of the car at the end of the agreement.
Personal Contract Purchase (PCP)
PCP is in essence a purchase agreement. however a predicted minimum future value (balloon payment) is offset until the end of the agreement, this is called optional final payment. at the end of the term you have 3 options;
1) Keep the vehicle after paying the OFP
2) Hand the vehicle back to the finance company
3) Part exchange for another vehicle.
PCP is subject to agreed mileage at the end of the term where excess charges may apply. Please ensure the mileage band meets your needs.