Hire Purchase (HP)
We have relationships with high street lenders and specialist motoring finance houses, which is how we have helped hundreds of van customers secure the best finance deal for their budget.
Our expertise with van finance means that even if you have a poor credit rating, we can help arrange finance for you.
- 2 minute application
- No need to estimate mileage
- At the end of the agreement, you own the van
Van finance to suit your budget
Hermiston Motor Company is an approved finance partner of the following finance provider
To find out how they can help you purchase your next van, speak to Hermiston Motor Company today. We offer quick, easy and convenient vehicle finance.
Reasons to use finance
Why finance your next van? Here are our reasons why it could be beneficial for your business:
- Secure Way To Fund Your Next Vehicle
- Tailored Finance Packages
- Low Payment Plans
- Simple 2 Minute Online Application
- Refused Credit? We Can Help
- HP, PCP & Lease Purchase Options
- Competitive Fixed Interest Rates
- Free Credit Score Check
FAQ
Financing a van can be a great way to purchase the vehicle you need without having to pay the full cost upfront. However, the process can be confusing and overwhelming. To help make it easier, it’s a good idea to have a list of questions ready when talking to a finance provider.
Whether or not to buy a van on finance depends on your personal financial situation. Some factors to consider include the size of your down payment, the terms of the loan, and the overall cost of the vehicle. Additionally, you should also consider your ability to make the monthly payments, and whether or not you can afford any additional costs associated with owning a van, such as insurance, maintenance, and repairs. If you can afford the costs and are comfortable with the terms of the loan, then buying a van on finance may be a good option for you.
It depends on the specific terms and conditions of the loan agreement. Some loan agreements may allow for the transfer of the remaining balance to a new vehicle, while others may not. Additionally, some lenders may require that the new vehicle be of similar value or be used for the same purpose as the original vehicle. It is best to check with the lender or the financing company to find out if the loan can be transferred to another vehicle and if there are any specific requirements that must be met.
Another option, if you want to transfer a van finance to another vehicle, would be to sell the van and use the proceeds to purchase another vehicle and then refinance the new vehicle with a new loan.
The difference between PCP (Personal Contract Purchase), HP (Hire Purchase) and a personal loan when it comes to financing a van is the same as the difference for financing a car.
PCP is a type of van financing where the customer pays a deposit, followed by a series of monthly payments, with the option to purchase the van at the end of the agreement for a pre-agreed “balloon” payment.
HP is similar to a van loan. The customer pays a deposit and then makes fixed monthly payments over an agreed period of time. At the end of the agreement, the customer owns the van.
A personal loan is a general purpose loan, and it can be used for a variety of expenses, including buying a van. With a personal loan, the customer borrows a lump sum and then makes fixed monthly payments until the loan is fully repaid.
It's important to remember that the terms and conditions of each type of financing, such as the interest rate, fees, and the length of the loan, may also differ for vans and it's important to compare the options and understand the terms before making a decision.
Yes, you can apply for van finance in joint names with another person. Joint finance means that two or more people are responsible for repaying the loan together. Both parties are jointly and individually liable for the debt, meaning that if one person fails to make a payment, the other person(s) is/are still responsible for repaying the loan.
When applying for joint finance, both parties need to provide their personal and financial information, including their income, employment details, and credit history. The lender will then assess the application based on the combined information of both parties.
It's important to keep in mind that having a joint finance agreement can affect both parties credit scores, so it's important to make sure that both parties are aware of the responsibility they are taking on and that they trust each other to make the payments on time.
It's always a good idea to discuss the terms and conditions of the agreement, and make sure that both parties understand and agree to the terms before signing any documents.