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best way to borrow £10000
hi im self employed and need to buy myself a new/nearly new work van for around £10000. I can afford around £200 per month but would like the option to make over payments to reduce the term and interest can any one suggest the best/cheapest/most tax efficient way of doing this
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Comments
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It may be best for you to Hire Purchase. You own the van at the end and a some of the payments are deductible against tax.0
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If you have a mortgage it may be best to re-mortgage to borrow the extra, we have just done this for a large purchase £15000 approx with the same lender took about 3 weeks to go through.0
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Also if the HP is a CCA reg agreement then once you have paid half you can hand the van back and start again and get a newer van.0
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