Proactive Vehicle & Equipment Finance Ltd

Proactive Vehicle & Equipment Finance, business vehicle finance broker in the UK

Proactive Vehicle & Equipment Finance Ltd is an independent credit broker based in the UK that connects individuals and businesses across England, Wales and Scotland with finance providers for the purchase of vehicles and equipment. The firm presents itself as a specialist in business car and van finance, and operates with a panel of banks and specialist lenders. It does not charge clients a fee for its service: its remuneration comes from the commission paid to it by the lender, calculated as a percentage of the balance financed.

Business finance products

The firm's range covers various types of finance aimed at the business sector:

• Business vehicle finance, for both cars and vans.
• Commercial vehicle and van finance.
• Sports and prestige car finance.
• Equipment finance.
• Balloon refinance.
• Finance to buy the vehicle the business already has in use.

Within car and van finance, the company distinguishes between established limited companies and newly formed limited companies, for which it offers specific products that make it easier to acquire their first vehicles. It also covers pickup truck finance, designed for industries that require robust and versatile vehicles.

Customer profile and sectors served

The firm works with businesses of different sizes, from companies that need a single vehicle to entire fleets. Among the areas covered in its content are garage equipment finance, van finance in a company name, taxi and chauffeur vehicle finance — including Mercedes V-Class and S-Class models, with hire purchase options for limited companies and tax advantages for electric models — and the refinance of taxis currently held in a personal name to move them into a limited company name. It also publishes content on finance for used vehicles from brands such as Porsche Cayenne, Porsche Macan and Volkswagen Crafter in a limited company name, including for newly formed companies.

How the process works

The procedure is set out in three steps. First, the client submits an online application using a form; the team then looks for the most suitable lender for the applicant or their business. Once the application is approved, the client chooses the vehicle at a dealership in their area; if the dealership is not known to the firm, it carries out checks on it as part of the service. Finally, once the finance agreements have been signed and verified, the firm ensures that payment reaches the dealership quickly so that the client can arrange collection or delivery of the vehicle.

Contactless finance and customer guide

The company and its partners have invested in technology to simplify the finance process while maintaining high levels of security, in what it calls contactless business vehicle finance. It also offers a customer guide to finance describing the most common types of finance, their benefits and other aspects to consider.

Terms, rates and regulatory framework

The site indicated rates from 8.9% APR, with a representative APR of 11.9%. The representative example published: a loan of £11,000 over four years with a representative APR of 11.9%, a fixed annual interest rate of 11.9% and a deposit of £0.00 would result in a monthly payment of £285.89, with a total cost of credit of £2,722.72 and a total amount payable of £13,722.72. The firm warns that rates may vary depending on individual circumstances, the lender that approves the application and the vehicle or equipment purchased, and that finance is subject to approval. It also notes that default may affect the credit history and that the lender may recover the financed vehicle or equipment before the end of the agreement.

Proactive Vehicle & Equipment Finance Ltd is registered in England and Wales with company number 12688016, with its registered office at Whitfield Business Hub, 184-200 Pensby Road, Heswall, Wirral, CH60 7RJ. It is authorised and regulated by the Financial Conduct Authority with FRN 930768, and registered with the Information Commissioner's Office under ICO number ZA787680. Its VAT number is GB362252907. The firm describes itself as a credit broker, not a lender, and may introduce the client to a limited group of carefully selected finance providers. The commission it receives from the lender does not affect the amount paid by retail customers, but may influence the amount paid by corporate customers. The company confirms the amount of the commission before the agreement is signed and requires the client's informed consent. Finance requires being a UK resident and at least 18 years old.

Location and contact

Whitfield Business Hub, 184-200 Pensby Road, Heswall, Wirral, CH60 7RJ