As a fully licenced credit broker CoolVan is able to put together a finance package to suit you. CoolVan has nurtured relationships with some of the largest financial businesses in the UK and currently has a portfolio of over 20 finance companies actively looking for new business whether that is:
- Hire Purchase
- Finance Lease
- Contract Hire
We have our own in-house Business Manager who is able to recommend the right financial product to suit your particular requirements and situation.
We will guide you through the process of applying for the finance in the first place, completing all the paperwork and, finally, getting the paperwork to the finance company.
Hire Purchase Features
| Period | 12-60 months |
| Deposit | 10% all VAT (minimum) |
| Rate Type | Fixed |
| Tax Benefits | Written Down Allowances & all Interest Charges. |
| Balance Sheet | On Balance Sheet. |
| VAT | All VAT is paid up front on Comercial Vehicles |
| Residual Value | Customers Risk |
Hire Purchase Benefits
| Cash Flow | Allows use of the asset with minimal capital outlay |
| Another Credit Line | Leaves other credit lines free for other business use |
| Low cost start | Enhances cash flow |
| Fixed Interest Rate | Easy budgeting, no surprises |
| Ownership of Asset | Option to keep asset at the end |
| No VAT on payment | All VAT is paid up-front on Commercial Vehicles |
| Buy now pay later | Use today’s low rates to purchase asset |
| Balloons Available | A built-in balloon lowers monthly payments (subject to underwriting) |
| Tax | Capital & Revenue allowances offset against profits |
| Balance Sheet | On balance sheet can strengthen asset base |
Finance Lease Features
| Period | 12-60 months |
| Deposit | 3 in advance |
| Rate Type | Fixed |
| Tax Benefits | Rentals are generally wholly allowable as a business expense against taxable profits. |
| Balance Sheet | On Balance Sheet. |
| VAT | VAT is claimed back on monthly rentals |
| Residual Value | Customers Risk |
Finance Lease Benefits
| Cash Flow | Allows use of the asset with minimal capital outlay |
| Another Credit Line | Leaves other credit lines free for other business use |
| Low cost start | Enhances cash flow |
| Fixed Interest Rate |
Easy budgeting, no surprises |
| Ownership of Asset | Non ownership product |
| No VAT on payment | Recoverable by VAT registered customers |
| Buy now pay later | Use today’s low rates to purchase asset |
| Balloons Available | A built-in balloon lowers monthly payments (subject to underwriting) |
| Tax | Rentals offset against taxable profits |
| Balance Sheet | On balance sheet can strengthen asset base |