Whether you’re a fleet manager or owner-operator MV Commercial provide a number of ways to finance your commercial vehicle from us. We provide several types of finance each one tailored to your individual needs. Truck financing can be a daunting prospect, especially if you are an owner-operator. However with firm relationships with several of the UK's largest asset finance companies we have a number of solutions that are simple, affordable and flexible. Please see the truck finance options below or if you would prefer to discuss truck finance with a member of our finance team call free on 0800 862 0122.

Hire Purchase

If you would like to own your truck 100% at the end of a set period, Hire purchase or as we refer to it “truck lease purchase” is the most straightforward way to finance your truck. Your payments will be fixed and structured over a set term in a flexible way allowing for lower payments. For example a final payment or balloon payment can be added to reduce your monthly repayment. If affordable payments can be worked out over a fixed term without the need for a balloon payment only the VAT element of the purchase price is required as a deposit. Once all payments have been made over the fixed term then the truck shall belong to you.

Contract Hire

MV Commercial contract hire offers a fixed term, fixed cost contract with or without maintenance. It’s the smart way for business owners to manage their fleet without having the risk of depreciation, maintenance or disposal. It will free up cashflow and credit lines and if ownership is not the priority then this is the way to finance your vehicle(s). Our contract hire agreements are designed to be flexible and affordable and at the end of the fixed term all you do is hand back the vehicle. Our contract hire agreements are subject to “fair wear and tear” and mileage agreements. All are subject to status and our standard terms and conditions.

Contract Purchase

Contract purchase and hire purchase are very similar. The main difference between contract purchase and contract hire is that you have an option to buy your truck at the end of the agreed fixed term. There are several reasons why you may want to enter into such an agreement. Perhaps you wish to own the vehicle outright but are not in a position to pay a lump sum at the start. There are also tax advantages to using contract purchase and of course it will help your cashflow for the fixed period. Our finance company will guarantee a future resale value of the vehicle and once your fixed term ends you have the option to buy or return subject to the terms and conditions of the agreement.

Finance Leasing

Finance leasing is essentially a hire agreement. If owning a truck is not your main goal, finance leasing works well by providing a fixed monthly payment. Our finance company subject to conditions will agree to purchase the truck that you select and then hire the truck to you over a set period at a fixed cost. This provides a cost effective way to fund your vehicle as our finance company claims the writing down allowances and passes them on to you in way of reduced payments. You then make the agreed payments over the term of the lease, normally with several payments due in advance. At the end of the fixed term the truck is sold with the majority of sales proceeds treated as a rebate of rentals to you. This is a tax efficient way to manage your fleet as repayments can usually be offset against taxable profits.

Operating Lease

This is a rental agreement which can be used to finance your chosen vehicle. Our finance company build in a residual value to reduce your monthly payments and deposits are low making this the perfect solution for fleet managers and business owners. It provides a very tax efficient way to fund your fleet as in most cases the monthly payments can be written off as an expense and the equipment does not need to be depreciated over a term of years. It provides a flexible solution for business owners and fleet managers alike as at the end of the agreed period you can either return the vehicle or extend the rental period.

If you have any questions in relation to truck finance or would like a finance quote on a specific vehicle please complete the contact us form stating the vehicle registration number and one of our Sales team shall call you to discuss. Alternatively please call us free on 0800 520 0965 for assistance.

It is strongly suggested that you speak with an accountant in regards to the types of finance on offer from MV Commercial. Our finance partners are regulated by the financial services

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