Explore more insights

Product update: Company car and vehicle finance

Ollie Maitland Sep 12, 2024

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:

  1. Log in to your Capitalise.com account and to go 'Vehicle Finance'.
  2. Enter the car registration (if you don’t know it you can enter the make and model).
  3. Check out the estimated value of the vehicle and example monthly repayments.
  4. 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.

finance
profitability
help
alternative finance
invoice finance
fintech
news
accountant
case study
trade finance
contract finance
working capital
startup loans
refinancing
fashion finance
merchant cash advance
future accountant
product of the month
women in funding
partner of the month
business tips
accountants
accounting
product
forecasting
live session
accountex
2019
capitalise
funding
monitor
ai
international women's day
covid19 coronavirus
corporate finance
accounting firm
m&a
asset finance
hire purchase
businesses
credit score
rls
business funding
business credit score
south africa
business
adviser
small business
business loan
property finance
commercial mortgage
credit imporvement
spring budget 2023
small businesses
spring budget
ccj
inflation
commercial mortgages
trade debtors
cash flow
truck finance
late payments
lorry finance
manufacturing
building a financial safety net
healthcare
trade debtor days
overdraft
bridging loan
credit checks
interest rates
overtrading
templates
balance sheet
construction
bad debt
company credit checks
debt collection
credit control
check company credit
business loans
instant offer
credit scores
credit review service
economy
company credit check
commercial property
revolving credit facility
line of credit
property
recovery loan scheme
growth guarantee scheme
business finance
business credit scores
Follow Us
Sign Up to Receive Updates

Signup to our newsletter

Have insights about the accounting community sent straight to your inbox. Sign up to our newsletter.