The practical answer
Tell the broker or lender before accepting the substitution because the approved asset schedule and documents may need updating.
Changes in specification, price, age, VIN, supplier or VAT treatment can affect valuation and credit terms. Send the revised schedule and explain any effect on delivery or the business’s operating plan.
Do not sign documents describing the original vehicles if different assets are being supplied. Confirm the revised approval and funding conditions before the dealer expects payment.
Commercial finance is subject to status, lender approval and the specific asset and transaction. The right structure depends on the complete circumstances of the business.
What should I do next?
Have the asset details, supplier information and an outline of what the business needs ready. DCF can then discuss the requirement and identify which lenders may be suitable.
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