How do I finance or refinance a vehicle at the end of it's contract?

End of Contract Refinance - How to refinance a contract hire car or van in your own name

Are you reluctant to just hand your car or van back and start again?
Would you rather buy your existing company vehicle at the end of its lease?
Have you maintained your vehicle well with a perfect service history throughout its life?
Would a family member like to buy your company vehicle at the end of its contract when you get your new one?

It's a common conundrum many company vehicle drivers face with a looming deadline to hand it back. Nobody knows your car or van as well as you do, but where do you go for your finance options? Proactive Vehicle & Equipment Finance can help to arrange finance for your company vehicle should you wish to purchase it.

Technically, a contract hire agreement is a scheme whereby you do not own the vehicle at the end of the contract. This is due to the financial way the contract is set up by the leasing company who are the legal owner of the vehicle (as a contract hire agreement has HMRC and VAT implications). However, some leasing companies will allow the driver (or their family or friends) to purchase the vehicle at the end of the contract through their third party disposal agents. This option doesn't apply to company directors or their direct family unfortunately, only the employee and their family or friends.

Many leasing companies use an auction house or vehicle remarketing company to dispose of their fleet of vehicles and it's this third party that will usually invoice the vehicle to you if you decide to purchase your company car or van. You will get an upfront price before you hand your vehicle back so you can decide if you wish to make the purchase or not. This price can often be less than if you looked for the same vehicle in the general market place, saving you both time and money searching for something similar.

Each leasing company works in a slightly different way and you will need to contact your own leasing company to ask for a purchase price and their purchase procedure. This can usually be done within the last 3 months of the contract.

We will then help you to arrange finance for the agreed purchase price leaving you free to carry on using the vehicle with a new agreement in place (finance is subject to status). At the end of the new loan you will own the vehicle outright (subject to all payments being made and any option to purchase fee if applicable). It's very much a straightforward transaction and we'll talk you through the whole process step by step. Call us on 0151 459 6492 or get a quote using our vehicle finance calculator.

There is no fee for our service and we provide:

Access to our online vehicle finance calculators.
Access to our credit application and eligibility check.
Access to a range of high street banks and other specialist lenders.
A dedicated relationship manager service to guide you through the quotation, application, vehicle search and collection/delivery process.
Future client support.

What's the catch? There isn't one, this is how it should be. Our aim is to build long and lasting relationships with our business and private customers, it's as simple as that.

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Click here to apply now or simply call us on 0151 459 6492

Rates from just 9.9% APR.
(The exact rate you will be offered will be based on your individual circumstances)

Representative APR 17.2%.

Representative example:

Borrowing £11,000 over 4 years with a representative APR of 17.2%, an annual interest rate of 17.2% (Fixed) and a deposit of £0.00, the amount payable would be £311.61 per month, with a total cost of credit of £3957.28 and a total amount payable of £14957.28.

Rates may differ as they are dependent on individual circumstances, the lender you are approved with and the vehicle/equipment purchased.

(Click here to find out what a Representative APR & example is)

Finance is subject to status.

Warning: Late payment may impact your credit file and the lender may reclaim the vehicle or equipment financed prior to the end of the term of the agreement.

Company Information
Proactive Vehicle Finance is a trading name of Proactive Vehicle & Equipment Finance Ltd, registered in England & Wales under company number 12688016. Registered office address: Whitfield Business Hub, 184-200 Pensby Road, Heswall, Wirral, CH60 7RJ. Proactive Vehicle & Equipment Finance Ltd is authorised and regulated by the Financial Conduct Authority under FRN 930768. You can check our registration via their website: https://register.fca.org.uk/ We are registered with the Information Commissioner's Office under ICO registration ZA787680 and our VAT registration number is GB362252907

We are a credit broker not a lender and can introduce you to a select number of finance providers who may be able to offer you a credit facility for your purchase. We will only introduce you to these lenders and we will receive a commission from the lender, calculated either as a percentage of the balance financed or a fixed amount, if you decide to enter into an agreement with them. The commission we receive from the lender will not impact the amount that our retail customers/consumers pay under an agreement but may impact the amount that our corporate customers pay under an agreement we arrange.
Finance is subject to status, terms & conditions and you must be a UK resident aged 18 or over in order to apply. Guarantees and indemnities may be required.
All calls are recorded for training and quality purposes.