What deposit do I need for van Hire Purchase?
The minimum deposit on a Hire Purchase agreement is the cost of VAT and road fund licence (vehicle excise duty) on the van. You're free to put down a larger deposit if you'd prefer lower monthly payments. Bear in mind that the more you put in upfront, the less you borrow and the less interest you pay overall. If your business is VAT registered, you can reclaim the VAT element of the deposit.
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