Used Vans Easier to Buy on Credit as Van Finance Criteria Relax, Reflecting the Easing of Credit in the Banking System

Reading, United Kingdom, May 02, 2009 --(PR.com)-- Anchor Vans, one of the leading vendors of used vans in the UK, announces that the effects of quantitative easing can now be seen in the increased lending by banks involved in vehicle financing. For the first time since credit tightened significantly following the credit crunch, applications for vehicle financing are more likely to be accepted, making it easier for customers to buy used vans on credit. For more information call 0118 9710 230 or go to www.anchorvans.co.uk.

Simon Joyce, Sales Director of Anchor Vans, spoke enthusiastically about the change. "It's a relief to see the measures that we've heard so much about on the news starting to be seen at the sharp end of business. It took some time to see any kind of change in the banks lending criteria, but now we've noticed a definite shift." The availability of credit for vehicle financing has a significant impact on businesses that rely upon the use of commercial vehicles. "It's certainly a relief for our customers," Simon added. "It will have a very positive impact on the small to medium businesses that have really suffered over the last year from the unavailability of credit."

When asked how the increased availability of vehicle financing credit has become apparent, Simon answered; "We've noticed a general easing on the underwriting criteria. At one point, only a very small percentage of applicants were eligible, but now the credit rating doesn't have to be absolutely perfect for a van finance application to be successful. The figures also bear this out; if we look back at November and December 2008, and January 2009 the percentage of van finance customers whose applications were accepted was significantly lower than over the past couple of months. The required deposit has lessened too." With the effects of quantitative easing now being seen outside of the banking system, the future is looking brighter for any companies depending upon credit to finance commercial vehicles that underpin their business.

About Anchor Vans

Anchor Vans specialises in quality new and used vans in the South East of England. Anchor Vans is already the largest centre for new and used vans in Basingstoke, Newbury and Reading run from its main road Padworth site. Anchor Vans is well known for its competitive "lease to buy" schemes and for the quality of its website which allows customers to view pictures of all 350 new and used vans in stock. Anchor Vans has an extensive service centre with facilities for all classes of MOT for cars, vans and minibuses. Recently granted Ford approved service agent status, Anchor Vans has built a reputation for dependability and supplying high quality new and used vans.

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