Example: fleet renewal
A logistics company replacing five delivery vans may use contract hire to manage monthly costs and include maintenance.
This is an illustrative example only. Suitability depends on individual circumstances.
Finance
Keep your fleet moving.
Vehicle finance may help businesses fund commercial vehicles, vans and fleet replacements.
Tera is a credit broker, not a lender. Any finance is subject to status and the terms of the finance provider.
Overview
Vehicle finance covers hire purchase, leasing and contract hire structures for commercial vehicles, spreading cost over the vehicle's useful life.
How it works
Regular payments are made over the agreement term. Ownership, maintenance and end-of-term options depend on the structure chosen.
Common uses
- Commercial vans and trucks
- Fleet replacement programmes
- Specialist vehicles
- Company cars
Benefits
- Preserves working capital
- Predictable monthly costs
- May include maintenance packages
Considerations
- Mileage and condition terms apply to some structures
- Early termination charges may apply
- Ownership transfers vary by product
Information required
- Vehicle specifications and cost
- Annual mileage estimates
- Business trading information
Who may consider
- Businesses operating commercial fleets
- Companies replacing ageing vehicles
- Businesses needing specialist vehicles
The process
- 1.Share vehicle requirements through Tera's assessment
- 2.Review suitable finance structures
- 3.Complete the provider's application
- 4.Take delivery and begin repayments
Vehicle finance FAQs
Ready to understand your funding options?
Start with a short assessment and tell us what your business is planning next.
- No obligation to accept an option
- Clear next steps
- Human support available