Commercial vehicle finance is a funding solution that helps businesses acquire vehicles for commercial use. This finance could be in the form of a loan, lease, or hire purchase agreement, depending on the specific needs and circumstances of the business.

Any business that requires a commercial vehicle can apply for this type of finance. This includes sole traders, partnerships, limited companies, and even start-ups.

You can finance any type of commercial vehicle, including vans, trucks, lorries, tractors, coaches, and even specialist vehicles.

The most common types are hire purchase, finance lease, and operating lease. The right option for you will depend on your specific requirements and circumstances.

The term typically ranges from 12 months to 7 years, depending on the finance product and the specific agreement with the lender.

Some finance agreements may require a deposit, typically around 10-20% of the vehicle's value. However, some lenders may offer 100% finance, subject to eligibility.

Yes, you can finance used vehicles as well as new ones. The specific criteria and terms may vary depending on the age and condition of the vehicle.

This depends on the type of finance. With hire purchase, you will own the vehicle at the end of the agreement. With finance lease and operating lease, ownership may not transfer to you.

As the user of the vehicle, you will be responsible for its maintenance and repair. If the vehicle is involved in an accident, you would need to claim through your insurance.

The process can take anywhere from a few days to a few weeks, depending on the lender and the specifics of the application.

The interest rate will depend on various factors, including your creditworthiness, the type and value of the vehicle, and the specific finance product.

Fees can include application fees, origination fees, service fees, early repayment fees, and late payment fees. The specific fees will depend on the lender and the finance agreement.

If you miss a payment, you may be charged a late payment fee and it could affect your credit rating. If you continue to miss payments, the lender may repossess the vehicle.

Yes, most finance agreements allow for early repayment. However, there may be an early repayment fee.

This depends on the type of finance. With hire purchase, you will own the vehicle. With a lease, you may have the option to return the vehicle, continue leasing it, or purchase it.

If you exceed the agreed mileage on a lease, you may be charged an excess mileage fee.

Depreciation can affect the residual value of the vehicle, especially in a lease agreement. It's important to consider depreciation when choosing your finance product and vehicle.

Changing the vehicle during the agreement may be possible but could incur fees and could require a new finance agreement.

A balloon payment is a large final payment at the end of a finance agreement, reducing the monthly payments during the term but leaving a large amount to be paid at the end.

Red Fox Finance helps by understanding your business needs, identifying suitable finance products, negotiating with lenders, and managing the application process on your behalf, saving you time and effort.