A new start property development company in Lincolnshire wanted to diversify their business offerings and expand into the campervan rental sector.
The Challenge
The business made the decision to expand and create a campervan rental branch of the company, and therefore needed our assistance to purchase two campervans. Unfortunately, one was involved in an accident shortly after purchase, and they were required to buy a new one in order to fulfil pre-existing bookings and prevent delays. This meant there was a time constraint, and a replacement vehicle was required within a few days.
The Solution
The first two vehicles were funded with competitive new start rates and all three campers were on a sale and HP agreement, allowing the business to make use of the vans as soon as possible. A competitive balloon was also provided on all three campers at c50% of the current value over a five-year term.
For the third vehicle we had finance in place within 48 hours, enabling the campervan to be collected in time to fulfil customer bookings. In addition to the timely acceptance Moorgate assisted the customer with insurance enquiries regarding the incident. This deal allowed the customer to diversify their trading and generate more revenue.
The Highlights
✅£150,000 funded for a new campervan branch of a property development company
✅ An accident with one of the vehicles meant a quick turnaround was required to prevent booking delays
✅Funding meant the business could diversify their offerings and generate more revenue