Van finance business launched by CarMoney
CarMoney has launched a new dedicated van finance business to offer funding for new and used light commercial vehicles.
VanMoney has been launched to meet strong growth in the LCV market, with figures from the SMMT showing registrations rose by nearly 22% to 28,578 units in September.
Meanwhile, registrations for the first seven months of the year are up 4.3% to 187,224, units.
VanMoney is aimed at sole traders, limited companies and private buyers, offering Hire Purchase (HP) and Personal Contract Purchase (PCP) funding. It provides finance options for applicants with previous credit issues, subject to lender criteria and affordability checks.
Alastair Grier, CEO of CarMoney, said: “The van market is showing clear signs of growth, and that gives us confidence that this is the right time to launch a dedicated proposition. Van buyers tend to have a very straightforward requirement. They need the right vehicle to do a job, and they need a finance package that works for their business.
“VanMoney brings those two things together. Customers can access a wide range of commercial lenders through a single application, and we can also connect them with exclusive deals on new vans from dealer partners across the UK.
“We already have considerable experience arranging vehicle finance through CarMoney, but the van market has its own requirements. Creating a dedicated proposition means we can give van buyers a service built around those needs, whether they are buying new or used, operating as a sole trader or limited company, or have a less straightforward credit history.”
