Vehicle finance recommendations

[Rough Hewn]

I've just worked out I've spent £6770 on 8 vehicles since 1st march last year.
[emoji51]

[Rough Hewn]

I know a lot of the lenders I deal with have a minimum advance of £5k, but I also have plenty that have no minimum. 
What you might find though is that rather than coming up against minimum advances, your budget will mean you are looking at older vehicles, and then you will struggle to get anyone to lend due to the age of the asset. For cars etc for example a lot will say no older than 10 at end of term. 
 
Contract hire was mentioned above, but I would strongly recommend you avoid that, as it’s not as easy to exit as with an HP deal.
 
Also Close Asset Finance mentioned above they have recently tightened up their underwriting so less likely to look at bad credit. Although not sure how bad you’re meaning...
Asset finance tends to assess credit a bit differently, so you might be ok. 
 
I’m a broker - would be happy to have a chat and look at your options if you like? 

That would be appreciated.
07376803384
Saul
[emoji106]

[Big J]

1 minute ago, Rough Hewn said:

I've just worked out I've spent £6770 on 8 vehicles since 1st march last year.

Older vehicles can be a false economy. Just make sure you straight finance it with no balloon payment. And get one where it's not going to come out of warranty whilst you own it. 

[Rough Hewn]

Older vehicles can be a false economy. Just make sure you straight finance it with no balloon payment. And get one where it's not going to come out of warranty whilst you own it. 

Er yeah I've found out about the false economy. Had no other option though.
Started driving 1st of march last year with an escort van, worked my way up to a transit tipper and an old golf.
What's straight finance and ballooning?
[emoji106]

[ForestryFinance]

18 minutes ago, Rough Hewn said:

That would be appreciated.
07376803384
Saul

Will call you tomorrow Saul. I can explain the balloon vs no balloon etc and we can figure out what’s best 

[Rough Hewn]

Cheers bud [emoji106]

[Big J]

11 minutes ago, Rough Hewn said:

Er yeah I've found out about the false economy. Had no other option though.
Started driving 1st of march last year with an escort van, worked my way up to a transit tipper and an old golf.
What's straight finance and ballooning?

I can never remember the different terms, but these days I just go for simple financing in the form of VAT as the deposit (which I get back, as VAT registered), and the balance plus interest divided up over the 36-60 month term so that it's all paid off at the end. The vehicle is then mine to do with as I please.

[Rough Hewn]

I can never remember the different terms, but these days I just go for simple financing in the form of VAT as the deposit (which I get back, as VAT registered), and the balance plus interest divided up over the 36-60 month term so that it's all paid off at the end. The vehicle is then mine to do with as I please.

That's what I'd like ideally.
[emoji106]

[Ian C]

4 hours ago, Rough Hewn said:

Swinny,khriss and Ian,
You are correct.
But a decent second hand is 8/10k
I'm subbing up north
The wages are crap.

But the wages will be even worse when you have to pour coin into a shed!

[spuddog0507]

On 03/11/2019 at 16:34, Rough Hewn said:

I've just worked out I've spent £6770 on 8 vehicles since 1st march last year.

i think i have had 11 in 38 years but the last 12 years i have been running 2 vehicles, i think for your £6770 you could of bought a decent vehicle 18 month ago and probably still had it and it still worth a bit,