4Eva Young Camper Hire were looking to purchase a nearly new, delivery mile VW Transporter, options were to look at a long-term Hire purchase agreement over 6 years, the with the addition of a balloon added this then really helped reduce the monthly payment. Not all finance companies are happy with their customers renting out the equipment that the finance company owns, a simple solution to this so the lender is happy and aware of the use of the asset and customer happy with the terms and conditions.
Later in 2022, 4Eva Young Camper Hire approached us to see about the possibilities of funding a new venture and one that hasn’t been done in the rental market at that point. So, they went off to find their ideal truck and CUB caravan for off grid adventures. They found the Ford Ranger would be the ideal truck for the job. The pod caravan came from Red Lion Caravans in Southport who have been fantastic in supporting them with the CUB and with the new purchase. They also added the roof top tent so if being used as a family holiday this allows additional space, adding the tent this setup would sleep up to 5 people.
We saved them money by having both assets on 1 document, this has helped the client by not having to pay documentation fees twice and used a Hire Purchase agreement.
January 2023, we were approached again to see how we could help 4Eva Young slightly pivot and again offer something different for their clients. They have done market research and found that clients would prefer not to tow a caravan but did like the Ford Ranger. They showed examples of a “Demountable Camper” for the back of the Ford Ranger. With this in mind we set about making this happen for them. The CUB Caravan going back to the dealer and purchasing the demountable, this has a double bed inside and through a hatch leads into a pop top tent on the roof and sleeps 4 in total. This is set to be hired in March this year, settlement obtained and new agreement set up for the new camper.
July 2023, we were approached again with the directors having found the ideal larger motorhome to dip their toe with as they knew the seller personally. This one is a 6 berth large motorhome but can still be driven on a normal car driving licence. Lots of room for the larger family weekend break or ideal for the summer holiday. It includes a huge garage which can be used to store bikes and more!
This was a different scenario as the previous owner was selling it privately. This was something we can deal with for a business purchase as the lenders are comfortable with this. Additional paperwork completed and a road trip for myself to do an asset inspection for the lender.
November 2023, having had great success with the 6 berth they had found 2 more 4 berth motorhomes that were too good not to purchase to grow the company ready for 2024 with other plans on the horizon for 4eva young.
We looked at different options again with the funding and put it to the directors and came up with a plan.
For this we utilised a Hire Purchase agreement spread over max term to help with payments and maximising the profits from the monthly to rentals to their clients. (See December!) Funding sorted on the 2 new ones to then complete the fleet of motorhomes for hire for the coming seasons.
December 2023, having looked at different lenders we had already obtained a line of credit which are then open for 3 months, the only thing missing to complete the fleet for the client was a Volkswagen Transporter. In a very short time I had the call with the information of the new vehicle that would work for them. We was able to quickly turn this one around as the work had already been done regards to the line of credit being obtained.
Funding, we looked and Hire Purchase and Hire Purchase with a Balloon, the latter being used.