Van finance

[Andy]

Its time for me a new van,my escort van has served me well during my 1st year of self employment but i want something newer now,as i cant justify spending money on sign writing when i want something else.Not to mention more stuff is going wrong all the time,so becoming expensive with all the repairs!
No sign writing means no signed t shirts/jackets so its holding me back i feel.....
I want to appear more proffesional as theres alot of chancers about at the minute.

Anyway,i applied for a loan last week-got refused (so much for our wonderful government pledging to do more for businesses-fukkin w4nkers)

So im looking at finance on a van from Van Monster that is ex Northgate hire,99thousand mile 57plate combo with FSH.Its at £2995 plus the extortion.
The total paid back is £4900 so £1300 on top of the actual value.

Is this any good??,it hurts as id be paying nearly 5 bags for a van worth £3000 in private sale terms but i cant afford the cash buy.

To top this all off the insurance renewal came through for the 'scort-Last year i paid £493 with NO business no claims,renewal price-£611!!!

This prompted a call to said insurers to remind them that i was infact well stocked up on bog roll as its currently on offer in morrisons.

Should i go for it if i get accepted?? Is finance easier to obtain than a loan??? (i can afford the payments btw!!)

[mowgli]

If you keep it for 4 years, you can offset it against your tax

at the moment, banks aren't lending money out to any new business....so shop around for a deal at the van sales places.

I believe you also offset the insurance too..

[Andy]

Any business expense offsets it doesnt it?
Theres barely any van sales places round here and i simply havent got time to drive to them all,this one is 18miles away,ive trawled the internet every night and it seems ok,whats swaying me towards it is that the hire company is the parent company of the van sales,so they have everything done and are well looked after (by the company,maybe not the roughneck hirer).

[Mike]

If you keep it for 4 years, you can offset it against your tax

I believe you also offset the insurance too..

Certainly can.

Van Monster are a decent reputable firm Andy, alot of mates of mine that are in't trade have had vehicles through them.

[Andy]

Aye,they are Mike,a company i used to double glaze for bought their whole fleet of transits from them and they were good vans.

[Stuart]

perhaps the attitude towards everything isnt helping lol

[Andy]

perhaps the attitude towards everything isnt helping lol
Helping what??
Banks and the government are cunnts,insurance isnt worth the paper its written on,along with banks and the government,its a scam.
Other than that lifes good lol

[mowgli]

well, a business overdraft now has a higher interest rate than a car loan........

the banks have scrapped so many overdrafts that they have ruined the cashflow of small business

[Andy]

I use a current account.

[mowgli]

and a cadbury's roses jar under the bed

[Novasport]

£1300 interest, sh!t the bed! What APR is that at? Probably get one cheaper at Brighthouse! lol

[Andy]

Seriously everything i do goes in bank.
In my line of work its very very easy to tax fiddle due to no receipts and cash.
No point though,i want a mortgage and to run the business properly.

[Andy]

£1300 interest, sh!t the bed! What APR is that at? Probably get one cheaper at Brighthouse! lol

link me up then lol

[Mike]

No point though,i want a mortgage and to run the business properly.

Best way to be. It only takes one small thing to get caught out on an then its investigation central.

[L14MNP]

Andy, not thought about getting a slightly newer van as a stop gap just for now then maybe upgrading in a year or so mate?
Even though it may be (for eg) a mk4 Astra, Berlingo etc they are still decent enough modern looking vans that are worth signwriting imo. I know what you're saying about the Escort vans, even if they're still a good motor, they're just getting a bit too long in the tooth to be taken seriously. Sad times, I love the slow, rusty ba$tards! lol

I also agree, it's **** how they don't make things easy for those in a position to afford things! :/