When most businesses need vehicle finance they end up with finance secured over a particular vehicle, and the loan has set repayments which are the same each month.
Is that the smartest way to arrange vehicle finance for business?
Probably not!
Flexibility is key to business, and especially in uncertain times.
Get Flexible Vehicle Finance
It’s 2023 and we need to be smarter about arranging finance for businesses, and that includes finance for business vehicles.
So instead of arranging finance secured over a vehicle, we are often now arranging a smarter business loan that is flexible like an overdraft and can be used and paid as it suits the business. You can have a pre-approved facility that you can use over and over to finance a single vehicle or a small fleet. You can even use this to finance special vehicles that many vehicle lenders would not be prepared to do.
But the best part is you can pay off the loan at your own pace – you need to pay the minimum interest payment, but how quickly you pay the loan off is up to you and the cashflow within your business. You can pay the minimum at times when cashflow is not good, and pay lump-sums or even the full amount in those months when cashflow is really good.
This is really a small business loan rather than a vehicle loan, but it works well anyway.
