All information is provided only as a guide.
We cannot be held responsible for any changes in legislation.


HIRE PURCHASE

This is the traditional method of funding a vehicle that has the advantage of simplicity and ownership.

The vehicle is treated as an asset and therefore is written down at 25% per annum to a maximum of £3000. Commercial vehicles are written down at 40% for the first year and 25% thereafter, with no limits.

Typical Example – New vehicle

Vehicle Cost £ 11,000

Deposit £ 1,000

Advance £ 10,000 @ 5% flat, APR approximately 9.9%

Either 36 repayments @ £319.45 OR 48 repayments @ £250.00

Please note, typical administration fees apply at £125 and £50 on the final payment.

This is an example, not a quotation.


Please note, Eurovans has compiled this information simply to assist you in choosing the most suitable funding option. We cannot make the decision for you.
If you are unsure, you should take the advice of your financial adviser, or, in the
case of business customers, it is essential that you consult with your accountant.