Paragon launches bespoke finance packages for electric vans

Electric LCV charging

Paragon Motor Finance has launched a battery electric van (BEV) finance offering, to suit commercial vehicles.

Finance is offered on hire purchase and lease purchase agreements, with loans available to both consumers and businesses through intermediaries.

Julian Rance, managing director of Paragon Motor Finance, said: “Our brokers, dealers and customers have highlighted the desire for an expanded electric vehicle offering that meets the needs and growth in this market. After our initial introduction of lending on BEVs in 2021, it was only natural to expand our product range into the LCV market, and also enhance our criteria for cars.

“We want to support the increase in the number of zero emission vehicles on UK roads. We have been pleased with the reaction to our BEV offering and we look forward to working with the trade to satisfy the growing market for LCVs.”

The launch follows the debut of Paragon’s EV finance for cars, at the end of last year.

The UK Government has set the requirement for all new vehicles to have significant zero emissions capability by 2030, before becoming fully emission-free from 2035. Paragon said it will continue expand its product range in the EV market with lending criteria that aims to support and encourage customers to move away from Internal Combustion Engine vehicles.

New LCV registrations have strongly increased this year, resulting in a growing used market. Society of Motor Manufacturers and Traders (SMMT) data showed a 60% increase in new LCV registrations in the six months to the end of June, compared to the same period last year, representing 8,100 vehicles.

The latest Commercial Fleet news, insight and roadtests

In this issue

A night to remember: 63-page guide to winners, highly commended and finalists at our 2023 awards

Fleets forsake vans and take to take to the water in Government-backed trial

Talks with Treasury to develop a better tax deal for vehicle leasing

The end of print Fleet News: 45 years of shaping the fleet industry

Fuel cells: don't write hydrogen off

DfT admits driver training changes risk increasing costs

Bridging gap between diesel and electric


Read now

Comment as guest

Login  /  Register


No comments have been made yet.

Related content

What's the tax liability on my van?

Calculate the BIK tax on any van on sale today with our van tax calculator

How green is your van?

Check out the CO2 emissions for new vans with our CO2 calculator?