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Are you thinking about taking the next step and getting a commercial vehicle to help grow your small business? Read on to find out more about what is classed as a commercial vehicle, examples, and why getting one could benefit your business.
"A commercial vehicle primarily transports goods."
What is a Commercial Vehicle?
A commercial vehicle is any type of vehicle primarily used to transport goods. Examples of these vehicles are vans, trucks, HGVs, tractors, pickup trucks. Alterations can be made to a non-commercial vehicle that can turn it into a commercial vehicle. For example, it must have tinted/opaque or no windows and no backseats; to discourage passenger use. It must also not be used by any employee for personal use.
Each of these types of commercial vehicle could be used within your business for a variety of purposes, such as:
- Delivery & distribution
- Private hire
- Construction & distribution
- Work vehicles
- Public services
"You can use a wide range of commercial vehicles."
- Financing a Commercial Vehicle
- Why might you choose to finance your commercial vehicle? There are many reasons why you might choose to do so. Finance allows you to get the assets or vehicles you need while keeping cash within your business. There are several routes to go down with finance and leasing; you can read about these in our other blog posts here:
You could choose to buy your commercial vehicle, but we believe it is a more sensible option to lease here at Love Finance. Some positives are that it saves money and ensures you're getting the best vehicles for your business. If you did want to buy outright, you could go down the route of lease purchase - as this allows you to get a feel for the vehicle and buy it at the end of the contract if you wanted to.
"Financing a commercial vehicle can be an excellent option to grow your business."
In conclusion, receiving commercial vehicle funding through a company like Love Finance can allow you to keep funds in your business and give you the freedom and flexibility that you require. Our instant, automated system gives you quick advice and our panel of lenders provide interest rates as low as 2.9%.