Renewing and updating company cars, vans and trucks can be critical to keeping a business running. Now businesses can use Capitalise to help finance vehicles with our new car and vans feature.
Using our new car look-up feature
Here’s how to use our new feature on a Capitalise for Business account:
- Log in to your Capitalise.com account and to go 'Vehicle Finance'.
- Enter the car registration (if you don’t know it you can enter the make and model).
- Check out the estimated value of the vehicle and example monthly repayments.
- Continue with an application to get quotes from multiple lenders on Capitalise.
Our car look-up feature works for any UK registered vehicle and gives an industry guideline price to understand what lenders may provide to purchase or refinance your vehicle.
When getting car finance, lenders will typically offer finance of up to 80 to 90% the value of the asset. So if you’re purchasing a car you’ll need to have 10 - 20% of the value as a deposit.
What’s the difference between vehicle finance vs leasing?
Essentially, with vehicle finance a company takes out a loan to purchase the vehicle and so owns it after making the repayments. This is often called Hire Purchase (HP).
Whereas with leasing this is like renting the vehicle from the dealership or car manufacturer and the vehicle will need to be returned at the end of the lease or purchased. Check out our guide to company car leases vs finance.
In this product update businesses can compare vehicle finance and hired purchase lenders but not leases (for now!)
Reasons to consider renewing your company fleet
When thinking about car finance and van finance, it’s worth considering the return on the investment you’ll be making.
Our customers typically are looking to improve their business sales and profit by considering the following:
- Reducing costs with improved efficiency and lower emissions of new vehicles.
- Improved reliability meaning fewer missed days of work.
- Supporting a premium brand image and service offering leading to hire contract values.
- Refinance into lower finance costs from previous financing agreements.
Getting started
Over 750,000 company cars and vans roam the roads in the UK and we’re here to help businesses get control over their business finances.
Make sure you compare your options with Capitalise to find the right finance for your company.
If you have an account, you can login and head to "Vehicle Finance'. Or you can sign up for free to get started.
If you're an accountant, you can invite your clients to monitor to give them access.
