You simply need to approach a reputable dealer, and choose the perfect van for your needs, such as a pick-up, 4x4, crew cab, curtain side van, tipper, Luton van or a drop side pick-up. Popular makes of van include Ford, Land Rover, Mercedes, Renault, Toyota, Vauxhall, and Volkswagen.
You can borrow between £4,000 and £200,000, and will generally need to make a deposit of around 20% of the van’s on-road value. Some lenders won’t require a deposit though, or will work with you to determine an affordable amount - your personal circumstances will be taken into consideration. The finance option you choose may also affect the deposit amount, as will a part-exchange.
Am I Eligible For Van Finance? - When it comes to van finance, you’ll need to be aged 18 or above, be a UK resident, and have a regular income in order to make the repayments. A number of our lenders specialise in bad credit van loans, so even if you have a less than perfect credit score, your application may still be considered.
Can I Get Guaranteed Van Finance? - Unfortunately there is no such thing as guaranteed vehicle finance. No lender is able to guarantee acceptance on every application, as this would not be lending responsibly. However, there are things you can do to improve your chances of approval, such as building up your credit score.
If you’re unsure what your current credit rating is, you can check for free using sites like Experian and Credit Karma. They’ll also offer you lots of helpful tips on boosting your credit score, such as registering on the electoral roll, which may be able to instantly improve your credit rating.
Can I Get Bad Credit Van Finance? - The simple answer is yes! Even if you have a poor credit rating, you may still be eligible for van finance. Some lenders even specialise in bad credit van finance, as they understand that individuals looking to get a van loan probably need access to a van, whether it’s for work or personal use.
If you are applying for bad credit van finance, many lenders will take into account more than just your credit history. They’ll also look at things like your monthly income and expenditure, as well as your employment history. A lot of lenders believe that your affordability is just as important as your credit rating, and you should have access to credit when you need it.
Can I Apply For Van Finance If I’m Self-Employed? - Due to the unpredictable nature of the work, unfortunately self-employed vehicle finance is often more challenging to obtain. And because self-employment doesn’t tend to come with a regular income, making regular payments difficult, such individuals often have low credit ratings too. But this doesn’t mean you can’t take out a van loan - many vehicle finance providers will consider applications from people who are self-employed with bad credit.
Perhaps the best thing about working with a broker like us, is that you’re essentially applying with a large panel of lenders, giving your loan application the best chance of success, all without impacting your credit file. We’ll take into account your needs and requirements, and do our best to match you with a suitable van finance lender.
