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Finance Options

We have a wide variety of funders available to us, offering everything from Hire Purchase to Contract Hire. We can source the most competitive rates on your behalf and also provide quick underwriting decisions, allowing for the minimum of delay to the transaction.

We take a £500 deposit over the phone / by direct transfer which will be later deducted from your invoice balance.

We can offer the following finance packages which all have their unique and individual benefits – below is a summary of what each package offers you.

Whatever vehicle you need, we will provide a finance solution matching your requirements.

Contract Hire / Operating Lease

Contract hire is sometimes referred to as Operating Lease but this is generally when a package is provided without maintenance. Terms can range from 12 to 60 months with 36 to 60 months generally being the norm. VAT is charged monthly and a deposit is normally based on an amount of monthly payments upfront, plus VAT on the payment (3 months is considered to be normal but this can vary).

  • Minimum capital deposit upfront which improves cash flow
  • Accurate monthly budgeting
  • VAT can be paid monthly
  • Fixed interest rates
  • 100% of Rentals can be offset against business profits
  • No vehicle disposal at contract end which reduces administration and "back end” / residual value risk
  • Maintenance packages optional including Replacement Vehicle Cover & Breakdown Assistance
  • Road Fund License (vehicle tax) can be included for the duration of the contract

  • Lack of flexibility once within the contract and early termination can be expensive
  • Mileage restricted contract
  • Return conditions applicable based on vehicle being returned with "fair wear & tear”
  • No ownership of the vehicle during contract (off balance sheet – subject to legislation change) and no option to purchase at contract end


Finance Lease

Finance Lease is a method of finance which gives the cash flow benefits of Contract Hire / Operating Lease, including being able to manage your VAT payments monthly but also provides the flexibility of being able to dispose of the vehicle yourself. Excess mileage fees and return conditions are not applicable. Deposits can be variable and the inclusion of back end balloon payments to help reduce monthly outlay is also an option.

  • Minimum capital deposit upfront which improvers cash flow
  • Accurate monthly budgeting
  • Fixed interest rates
  • 100% tax deductible
  • VAT can be paid monthly
  • Flexibility to settle early
  • Optional balloon payment at Contract End can help reduce monthly payments further
  • No mileage restrictions or return conditions
  • Capital not tied up in a depreciating asset
  • Opportunity to continue to lease

  • No ownership of vehicle
  • Responsibility for disposal sits with you (once final balance and sales proceeds charge is paid you will benefit from any profit from the vehicle vs. residual value agreed with the finance company)
  • If a balloon payment is agreed within the contract the responsibility for the payment of this amount sits with the lessee regardless of the vehicles Residual Value


Hire Purchase

Generally ideal for non VAT registered companies or anyone who wants the benefit of owning the vehicle at the end of the finance term. Deposits can be flexible and balloon payments can be considered.

  • Fixed monthly cost
  • Ownership at the end of the term
  • Deposit and Term flexible
  • VAT paid upfront
  • Interest reclaimable against tax
  • The company will benefit from writing down allowance (subject to legislation)
  • Flexibility

  • Potentially more capital outlay upfront
  • Full disposal & Residual Value responsibility lies with you

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“Van Monkey found us exactly what we needed to suit our business at competitive prices, without any fuss or time wasted looking through other possible supplier options or trade sellers. We would certainly recommended them if you are in the market to buy new or nearly new vehicles.” A Hingley Transport Ltd – West Midlands

“I had been looking to change my van for some time and after a recommendation from a friend, I found Van Monkey online - within 48 hours, they offered me a number of options and my van was sorted within a week. Great service – no fuss – go to Van Monkey if you want to buy a new or second hand van. By the way great logo!” AJS Auto’s – Stourbridge, West Midlands.

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