Finding the right finance solution for your vehicle

Here at David Spear Commercial Vehicles, we understand the importance of finding the right finance product for your vehicle. Our experts work with you one-on-one to not only discover the most fitting financial solution, but make the process as quick, clear and simple as possible.

We are here to help you. With a selection of finance options available, including Hire Purchase, Lease Purchase and Contract Hire, you can make your new van purchase affordable and take your business to the next level.

HP - Hire Purchase

Spreading the cost of your van purchase is easy with Hire Purchase. Thanks to fixed, regular monthly repayments, you can work towards owning your LCV outright.

How does it work?

After agreeing an initial deposit, agreement term and monthly repayment amount, we then submit your Hire Purchase finance application on your behalf. With Hire Purchase, you can borrow any amount from £1,000 and set repayments that suit your budget over a term of 1 to 5 years. Our Hire Purchase finance is available on new vans and used commercials aged up to 14 years at the end of the agreement term. Flexible deposit options, including 0% deposits, may also be available subject to status.

What happens at the end of your agreement?

Once all repayments and final option to purchase fee have been made, you own the vehicle, a fact that makes Hire Purchase a great choice for many business owners. Hire Purchase finance also ensures you can budget with confidence courtesy of fixed and regular repayments.

LP - Lease Purchase

With low monthly repayments and no annual mileage limits, Lease Purchase finance is a popular choice for businesses serving a multitude of sectors.

How does it work?

Again, borrowing any amount from £1,000, you work with our team to set repayments that suit your budget for a period of 2 to 4 years. Monthly repayments tend to be much lower than other finance products, as a significant amount of the credit is deferred to a final repayment at the end of the agreed term. This final repayment amount is calculated after an initial deposit, term and monthly repayment amount are agreed. This finance product is available on new vans or used commercial vehicles up to 7 years old at the end of the agreement term. Flexible deposit options, including 0% deposits, may also be available subject to status.

What happens at the end of your agreement?

You have two options once you come to the end of the agreement term. You can choose to pay the Final Lump Sum Repayment to own the vehicle outright or part exchange the vehicle subject to the settlement of your existing finance agreement. With Lease Purchase, you can drive the latest models, keep monthly repayments equal and low with fixed interest, and avoid the mileage restrictions associated with many finance products.

Contract Hire

With Contract Hire, your finance company owns the vehicle throughout and after your agreement term, an arrangement that comes with many advantages.

How does it work?

Unlike Hire Purchase and Lease Purchase, where you have the opportunity at the end of the term to own your vehicle, with Contract Hire, you are essentially hiring your vehicle for a fixed period. After agreeing a term (usually between 2 and 5 years) and annual mileage, we are then able to offer you a fixed monthly repayment amount. A range of optional extras are also available with Contract Hire to ensure the added expense of servicing, MOTs and replacement tyres can be covered comfortably throughout your agreed term.

What happens at the end of your agreement?

Whilst you will not own your vehicle at the end of the term, Contract Hire offers protection against the depreciation risks and disposal worries that many have when choosing other finance products. Contract Hire also unlocks various VAT and tax benefits. At the end of your term, your vehicle will be collected and its condition appraised. Excess mileage charges will apply if you have exceeded your agreed limit. Any damage due to the vehicle's age or mileage will be considered as part of the final vehicle appraisal.

We are an independent introducer, and work with carefully selected vehicle finance providers to supply personalised, versatile finance products directly to you. David Spear Commercials Limited is an Appointed Representative of Automotive Compliance Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA No 688883).

Benefits of Finance for Business

We are here to help

There are a number of different finance options available at David Spear Commercials making your new van purchase affordable. Visit our showroom and speak to a member of our finance team. They’re able to advise you on all our finance options. if you have a bad credit history we may still be able to help you, simply ask one of our friendly finance staff for more information.

Business specialists

Our dedicated team of Business Specialists are customer focused and are on hand to give advice and assist you in anyway they possibly can.

Spread the cost

Repayment terms from 12 to 60 months.

Fixed Payments

Low APR’s, Fixed monthly repayments, no hidden charges.

Existing finance settled

Speak to a business specialist they can arrange to settle your existing vehicle finance.

Business tax relief

Business users may claim tax relief on any interest charged. The vehicle is also classed as an asset which allows write down against taxable profits.

Fast decision

Depending on your circumstances you could be agreed within 15 minutes.

Existing finance settled

Speak to a business specialist they can arrange to settle your existing vehicle finance.

Business tax relief

Business users may claim tax relief on any interest charged. The vehicle is also classed as an asset which allows write down against taxable profits.

Fast decision

Depending on your circumstances you could be agreed within 15 minutes.

Finance is available subject to status, to UK residents aged 18 years or over. Indemnities may be required. Conditions may apply depending on credit score status. We can introduce you to a limited numbers of finance providers that we have carefully selected, who may pay us for introducing you to them.