Business van finance calculator

How does the van finance calculator work?

Our business van finance calculator is designed to help you estimate your monthly repayments so you can understand how much you could afford to borrow. All you need to do is enter the price of the van or vans you’re looking to finance, (less the deposit amount) the estimated interest rate and adjust the length of time you wish to repay the finance. This will give you an idea of what you can expect to pay each month, making it easier to budget for your business needs.

How much can I borrow to finance a company van?

The amount you can borrow will depend on a number of factors, including your business credit score, how long you want the loan for, your business’ cash flow to repay the loan, and of course the size of the van.

Lenders will assess your ability to repay the loan based on your financial situation, such as your monthly cash flow. After using the van finance calculator, you can start a search for funding with Capitalise to see how much you could be eligible to borrow. We’ll then match you with the lenders and financial products best suited to your business needs.

Are there different types of van finance?

There are different ways to finance a business van, each fitting various needs. Here’s a simple overview of your options:

Hire Purchase: Pay fixed monthly amounts, and at the end, you own the van.

Finance Lease: Rent the van for a set period. At the end, you can either return it or buy it.

Operating Lease: Similar to a finance lease but usually for a shorter time. You use the van without owning it.

Contract Hire: Rent the van long-term with a fixed monthly fee, often including maintenance and servicing.

How does financing a van work?

Business van finance allows you to get a van for your company, without paying the full price upfront. 

Here’s how it works:

1. Find out what your business can afford using the van finance calculator.

2. Pick a van that fits your business needs.

3. Apply for van finance. You can do this easily through your Capitalise account. Just complete a funding search and our platform matches you with lenders best suited to your needs.

4. Apply to up to 4 lenders in one application. At this stage you’ll need to provide some information and documents such as business bank statements.

5. If approved, you’ll sign a loan agreement outlining the loan amount, interest rate, repayment schedule, and any fees.

6. Depending on the provider, you’ll either get the van or the money to buy it.

7. Start making regular payments as agreed, covering the loan and interest.

8. At the end of the agreement, depending on the terms and type of finance product, you will either:

• Own the van after the final payment

• Choose to buy the van

• Return the van and possibly upgrade

• Return the van and end the deal.

What business credit score do I need for van finance?

Generally, a higher business credit score increases your chances of approval for financing, and you will likely be offered better interest rates. However, with business van finance, the loan is secured against the asset you're financing. This reduces the risk to the lender in the worst-case scenario that your business defaults, so some van finance lenders place less emphasis on your business credit score.