Business Van Hire Purchase Deals Explained

Hire Purchase is a straightforward way to pay for your Volkswagen Commercial Vehicle. You pay your deposit (which can be as little as one monthly payment), and then the balance is spread equally over one to five years helping you to select instalments that match your budget. At the end of the agreement, once you have made all the payments (including the option to purchase fee) you own your vehicle.

Hire Purchase - cost of your vehicle infographic

How does Hire Purchase work?

Once you have chosen your vehicle you just need to decide your deposit and how long you want to pay back the finance over. The amount left to finance is then divided equally over the length of your agreement to make up your monthly payments.

When you have made all repayments, and paid the option to purchase fee, you own the vehicle.

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The benefits of Hire Purchase

1

You own the vehicle at the end

Hire Purchase is a simple agreement, once you have paid all the monthly payments the vehicle is yours to sell, trade in, or keep.

2

No mileage restrictions

As you own the vehicle at the end of the agreement, there is no limit on how much you can drive the vehicle.

3

Monthly payments to suit you

Hire Purchase is a straight forward way to buy a new or used vehicle without a large financial outlay up front. By breaking down the cost of the vehicle into monthly payments, it enables you to budget reliably over the next 3-5 years.

4

Bespoke to your needs

You determine how long you want to spread the finance over, and how much of a deposit you want to put down. This enables you to tailor the agreement to suit your situation.

A woman sitting on a bed inside a camper van

Would Hire Purchase suit me?

The simplicity of Hire Purchase can help a range of people get into a new or used vehicle. It may be the best option for you if:

You drive a high mileage
You want to own the vehicle
You want to be able to budget for the next 1-5 years
You want to spread the cost of a new vehicle

The end of your agreement

Own your vehicle
Once you’ve paid all your monthly payments and the option-to-purchase fee, the vehicle is yours to keep, or to use as part exchange for another vehicle.
There is no action required from you, we will automatically close the agreement after your final direct debit payment has been collected and send a clearance letter for your records.
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FAQ's

Can I get a Hire Purchase Agreement?

What benefits does Hire Purchase offer me?

Hire Purchase leads to ownership and is suited to customers who potentially intend to keep their vehicle for longer than the period of repayments.
There are no mileage restrictions.
Deposit as little as one monthly payment.*
Choose the most appropriate term to suit your monthly budget.

_{*Subject to underwriting. 25% minimum deposit applies to new and used taxis. An offer of finance depends on certain conditions. Subject to status. Available to 18s and over in the UK only. Terms and conditions apply. Volkswagen Commercial Vehicle Financial Services.}

What happens at the end of my agreement?

Will I own the vehicle?

Important information to consider

Ownership of the vehicle will remain with Volkswagen Commercial Vehicle Financial Services until you have paid both the option to purchase fee and all monthly repayments.
It is really important that you keep up to date with your monthly repayments so please contact us if you are having any difficulties as the vehicle may be at risk if you don’t.
If you wish to end your agreement early you can request a settlement quote. How far into your agreement you are will affect the amount left to pay.