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With Group 1 van finance, you can benefit from:
1. Brand-new vans from official retailers.
2. Franchise retailers with expert teams.
3. Convenient test drive locations across the South East.
4. Your van can be delivered to your door, whether at work or at home.
5. A panel of funders offering a wide range of finance solutions.
A van finance agreement with Group 1 allows you to rent a van of your choice throughout your contracted period. At the start of the contract, you will be required to pay an initial fee as a deposit, followed by monthly payments over 2 to 4 years. Once the contract has come to an end, you will be required to hand the vehicle back to your local Group 1 dealership, or you may have the opportunity to make a final balloon payment, which would give you full ownership of the van.
Getting a van through finance with Group 1 offers the following benefits:
1. Low deposit and monthly payments.
2. Low APR * No loss of money due to depreciation.
3. Low maintenance and repair costs.
4. Nothing more to pay when the payments are complete.
Van finance at Group 1 is open to everyone; however, whether you will be accepted or not is usually down to your credit score. Before you apply, it is worth checking your credit score as some of the cheaper finance offers are only available to people with excellent credit ratings. Having a good credit score is the easiest way to get accepted for van finance, but it's not the only way. At Group 1, we have access to specialist funders who work with those who have a poor to average credit. Your monthly fee will be higher because you are considered a higher risk. If you keep paying your monthly instalments on time, then your credit score will improve.
If you are applying for van finance on behalf of your business, you are more likely to be accepted because the finance agreement will go through your business' accounts. This means that your personal credit score shouldn't be considered in your application.
You do pay VAT on a new van when you take out a finance agreement. The finance provider generally settles the cost of the VAT upfront, and your deposit and monthly payments are calculated to include the tax. Providing that your business is VAT registered, all of the VAT payable on the monthly payments are recoverable if the van is used solely for business purposes.