Vans on finance

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Whatever your trade, be it plumber or gardener, we understand the importance of finding the best van for your small business needs. Buying your next van using a van loan will mean you can split the cost of the van into manageable monthly payments.

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If you choose to finance with us, you're free to find your van wherever suits you best. Whether you're after an electric or automatic van, we can help with the finance.

How does it work?

There are several different kinds of car or van finance products available in the UK. It’s important you make the right choice for your circumstances, so be sure to do your research before deciding on a finance package.

Oodle offers an unsecured personal loan (UPL) product, but we’ve outlined two of the most popular finance products below for comparison: personal contract purchase (PCP) and personal contract hire (PCH).

Personal contract purchase

With PCP agreements, you put down an initial deposit, and then spread the remaining cost over a prearranged period, just as you would with a loan agreement. You have full use of the van during the agreement, but it still belongs to the lender. At the end of the PCP term, you have three options: you can either pay a usually significant lump sum – known as a balloon payment – to own the van, or hand it back (there may be charges for excess mileage and excessive wear and tear).

Alternatively, you can use the value remaining in the current van to put towards your next vehicle – this is known as part exchange. Here are some key points to be aware of:

The PCP agreement covers only the projected depreciation of the vehicle, so the monthly payments are usually smaller than other types of finance.
At the end of the PCP agreement you can choose to hand the van back, buy it, or part-exchange it to help finance your next one.
It’s important to be aware that if you are planning to buy the vehicle at the end of the PCP agreement the final cost it likely to be greater than a car loan overall, potentially wiping out the benefits of smaller monthly payments.
With PCP there may be charges for unreasonable wear and tear and excess mileage.

Personal contract hire

PCH is a popular way to ‘lease’ a van. With personal contract hire agreements, you normally pay an initial rental upfront – you then lease the van for a set period. Unlike PCP you don’t have the option to purchase the vehicle at the end of the agreement; at the end of the agreement you simply return the van. There may be additional charges for excess mileage and/or unreasonable wear and tear.

Vans on finance if you’re self-employed

We understand that every penny counts. It’s important to find the right van loan to support your small business needs.

If you’re a sole trader in need of a single vehicle, Oodle could be the answer.

By completing our online car finance application you’ll know in minutes whether we can help support your business in financing and even helping you find your next van. (Representative APR XXX)

Unfortunately, we can’t offer finance to small-to-medium enterprises (SMEs) or larger companies as we don’t provide finance for fleets.