A vehicle is often a working tool rather than a luxury. If your company needs a van to make deliveries, a truck to move goods, or a vehicle to reach customers, a Credicorp loan can fund the purchase so you can put it on the road and let it earn. The vehicle must be for genuine business use.
New, used, or upgrade?
A newer vehicle may cost more to buy but less to run and maintain; a used one frees up cash but can bring higher servicing bills. Estimate the total cost of ownership over the time you expect to keep it, then compare that against the cost of the funding at the rate shown in your offer.
Don't forget the running costs
- Insurance, road tax, and any operator licensing your trade requires.
- Fuel or charging, servicing, tyres, and MOT.
- Fit-out costs such as racking, signage, or refrigeration.
How we lend
Credicorp lends only to UK limited companies and LLPs for business purposes. The loan is to the company, and we do not take personal guarantees from directors. Credicorp Slice suits a single vehicle bought outright; Credicorp Flex can help if you are building a fleet over time. Repay over your agreed term.
As an exempt business lender, Credicorp is outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS protection do not apply.
See also: Can I use a Credicorp loan to buy stock ahead of a busy season?, Funding raw materials to fulfil a large order, Funding a new hire before they become profitable.