A Leeds based bus and coach company needed to quickly upgrade their fleet to meet the requirements of some new and upgraded contracts they had taken on.
The Highlights
✅ £143,500 funded for a VDL Coach
✅ Structured as a hire purchase, spread over five years
✅ Finance secured in just 8 days, well ahead of the 2-week deadline allowing the business to fulfil their new contracts without disruption
The Challenge
The company had secured several new contracts that required a higher standard of coach than their current fleet could provide. Without an upgrade they risked losing these valuable opportunities. This meant that the timing was critical as they had just two weeks to find the right vehicle in time for the contract start date. A 2017 VDL Coach was found at a local supplier, but finance had to be arranged quickly in order to meet the deadline.
The Solution
Moorgate Finance were able to arrange a hire purchase agreement for £143,500 spread over five years, giving them the ability to spread the cost without straining cash flow. To streamline the process, we visited the client in Leeds directly to go through the finance documents in person. At the same time, we carried out a full asset inspection at the supplier to make sure everything was in order and there were no delays. From initial enquiry to completion, the deal was wrapped up in just eight days allowing the company to take delivery of the coach in time for their new contracts.