How Can I Finance a Van Conversion?

Starting a business and financing your catering van can often throw up a lot of questions, with it tricky to know which way is best!

At Catering Van Conversions, we’re no strangers to the ins and outs of how our clients choose to pay for their vehicles. There are various ways to pay for your van, depending on budget, cash flow, credit rating and personal preferences. This blog will outline the various options available, feel free to get in touch and we will help guide you through the process in an affordable way that best suits your business.

Watch our guide to vehicle finance to see what could work for you!

What are the different options when it comes to purchasing and converting a van?

When starting, or growing a mobile hospitality business, it’s important to find a way to do so responsibly, sustainably and affordably for your business. Each business is different when it comes to this, so here are a few options on how you can we can work with you to achieve your dream van conversion, whether you already have a vehicle or you’re starting from scratch:

• You buy the van, we do the conversion – If you already have a vehicle, we can complete any conversion on this
• We buy the van and complete the conversion – Show us the van you’re looking to purchase, we then buy the van on your behalf and consolidate all purchase and conversion costs in one place
• Purchase a van already in stock at Catering Van Conversions – If you purchase a van directly through us, you will be able to include the conversion in the cost of purchase

Don’t make the mistake of purchasing a van on finance as your main asset, only to find you can’t get accepted on a finance agreement separately for the conversion because of this. Let us walk you through the process!

What are my options when looking to finance my catering van conversion?

So, you’re ready to take your food business on the road—but how do you fund your dream catering van? Whether it’s your first vehicle or you’re upgrading for something a little newer or larger, there are plenty of ways to finance your conversion. Here’s a quick rundown of your options.
The most common ways of paying for your van conversion are:

• Upfront Payment – Pay in full or in stages as your van takes shape. Simple and hassle-free.
• Supplier Financing – We work closely with our finance partners to find the best value plan to get your conversion rolling as soon as possible.
• Business Loan – Through banks or online lenders, a business loan can pay for the purchase and conversion of your van outright, with you repaying the lender directly.
• Grants & Funding – Check out small business grants or startup funding opportunities. Note that the Government-backed Growth Guarantee Scheme (GGS) is due to end soon.

Alternative methods of financing include crowdfunding and investor fundraising, which can be useful avenues to help grow your business, but will usually involve giving away a share of the company in exchange.

Why finance your van conversion through Catering Van Conversions?

We aim to simplify the process of converting your van, from concept, to financing, to finished product! All financing options arranged through us will allow you flexibility on your payments, so whether you want to pay larger lump sums through busy and more profitable periods, allowing you to optimise your cash flow through the quieter times, or you want to pay at steady rate across the length of your agreement, it will always be consolidated in one place and manageable.

No matter your budget, there’s a way to make your catering van a reality. Need advice? Get in touch — we’re happy to help!