Reliable and Affordable Van Finance Options for Businesses
Global Vans offer cost-effective van finance options for businesses across the country. With a range of brand-new vans on offer, we can source you the van you need and deliver it to you with full manufacturer’s warranty. So you know your business has a van it can rely on.
When you choose us for your van lease, it’s easier than ever to boost your business.
What types of van finance are available?
The three main types of van finance are Contract Hire, Finance Lease, and Hire Purchase. Each offers different benefits depending on what you need from your vehicle. Whether you’re looking for ownership at the end of your contract, or to hand the van back and upgrade to a new model, we have a van finance option for you
What is Contract Hire
Contract Hire is essentially a long-term rental of 2-5 years. You can spread the VAT cost over the length of the agreement, and the vehicle in handed back at the end of the term, subject to excess mileage and damage charges.
Contract Hire is a good option for businesses looking to cut costs without compromising on financial control and flexibility. With a set monthly rental payment, based on pre-agreed mileage terms, you’ll get full use of a brand-new van over 2-5 year period. At the end of your lease, you’ll be able to hand it back and upgrade to a new van.
What are the benefits of Contract Hire?
- Up to 100% tax deductible depending on cost of vehicle
- Low initial cost
- Flexible contracts
- No risk of depreciation
- No vehicle disposal issues
- Fixed monthly cost and optional maintenance
- VAT beneficial
- Road fund license included for the full contract length
Are there any disadvantages to Contract Hire?
- Fixed term and mileage contract
- Excess mileage charges if you do more miles than pre-agreed in your contract
- You may need to pay excess damage charges if your vehicle has sustained more damage over the course of your agreement than is deemed ‘Fair Wear & Tear’
- Early termination of your contract can be expensive
What is Finance Lease?
Finance Lease is a flexible van finance option that is increasingly popular with UK businesses. Like Contract Hire, VAT can be spread over the 2-5 years of the contract term. However, with Finance Lease you have different options at the end of your contract. You can: trade back and upgrade to a new van, sell to a 3rd party, or re-finance. There are also no excess mileage charges.
What are the benefits of Finance Lease?
- VAT Beneficial
- Tax Efficient
- Fixed payments for the whole agreement.
- Low initial cost
- Flexibility – you can settle early like a standard loan.
- Option to lower payments by offsetting some capital to the end of the van lease (called final rental or residual payment)
- No penalty charges for additional mileage or damage at the end of the agreement.
- Optional maintenance
Are there disadvantages to Finance Lease?
- No option to own the vehicle. You must sell to a 3rd party at the end of the agreement
- You are responsible for disposal of the vehicle at the end of the lease term
- Fully Comprehensive Insurance is required for the length of the agreement
- Varied interest rates on some agreements
- Depreciation of the vehicle is a risk taken on by customer leasing the vehicle
What is Hire Purchase?
Hire Purchase is a van finance agreement where you gain ownership of your vehicle once all payments, including the purchase payment have been made. With this van finance option VAT is paid in full upfront rather than spread over a 2-5 year term. There is no final rental payment, and no mileage charges. You retain full ownership at the end of the term.
This is a much more traditional van leasing option, favoured by businesses looking for eventual ownership of their leased vans.
What are the benefits of Hire Purchase?
- Fixed monthly cost
- Ownership at the end of the lease
- Flexible contract
- Low initial cost
- Monthly payments are lower as they’re without VAT
- Road fund licence included for the first year of the contract
- No excess mileage or damage restrictions
Are there disadvantages to Hire Purchase?
- You must pay the full VAT balance upfront alongside your initial payment
- You are liable for the entire value of the vehicle
- Fully Comprehensive insurance is required throughout your agreement
- You are fully responsible for the disposal of the vehicle
- The vehicle will appear on your company balance sheet
Van Finance FAQs
➤ How much do I need for a van deposit?
- Low deposit options are available. Usually customers put down 3-5x the monthly rental price. The more you can put down upfront, the lower your monthly price will be.
➤ What van finance type is best for high mileage?
- Finance Lease agreements don’t charge extra for excess mileage but the vehicle might be worth less at the end of the agreement if it’s done a lot more miles than expected.
➤ What if I want to own the van at the end?
- Hire Purchase agreements are designed so you’ll have full ownership once you’ve made all the payments on your van.
➤ Do I need to pass a credit check?
- Yes! You’ll need to pass a credit check no matter what van finance type you choose. This is because the finance company needs to make sure you’ll be able to make your monthly payments and that the van will be affordable for you long-term.
➤ Can I get out of my van lease early?
- Yes, you can get out of your contract before the end of the agreement. Early Termination can incur a fee which may vary depending on your finance company. If you’ve taken out a Finance Lease agreement, you can sell your vehicle to cover the cost of settling early and upgrade to a new van!
➤ Can I lease more than one van?
- Yes, we can arrange funding on any number of vans. Whether you need 1, 5 or 50! If you’re approved by our funding partners, we can source any vans you need and get them delivered to you, free of charge.
Still have questions?
Contact us,, or call 01179625314 to speak to one of our leasing experts. We’d be happy to answer any other van leasing queries you may have.
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Last updated March 2026
