Help & Advice

I'm 19 and need van finance without a guarantor

Hi, i was wondering if you could tell me whether i'd be able to get finance on a van. I'm looking at spending around £6000, i have a full time job returning me around £1100 a month, a full UK drivers license, I'm 19 and have had a bank account for around 18 months.

I have plenty of people who have offered to be my guarantor but they all have bad credit history. Is it possible to get finance with or without a guarantor in my circumstances? Thanks

Rob W


Answer

Hi Rob, yes - we have a few lenders who may be able to help get you van finance without a guarantor. Do you have a deposit and can you prove your income with payslips or bank statements etc?

Lastly, are you on the electoral roll and do you have any other form of credit other than just a bank account? If so, please make an application and once approved we provide a no obligation quote and you can choose a van from any UK dealer. Kind Regards, Rachel

Answer correct as of September 2016

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Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender

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Ok, yes i should have around a £1000 deposit. I have all my payslips since i got my job in July of last year. I am on the electoral role and i do own a credit card. Thanks

Answer

Hi Rob, that all sounds great. Hopefully we'll be able to get you approved then. Please apply on our site when you get 10 minutes.

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Hi, i was just wondering if my partner can get finance on a van for me to start my own business? I have a drivers licence and she doesn't however, she is employed and i am currently not!

Answer

Hi Ian, thank you for your question and apologies for the delayed response.

If you have a good credit history we could possibly get you approved on your own for a van loan as we wouldn't have to prove your income. If this isn't the case we'd need your girlfriend to have a good credit history too as she has no driving licence. We only have one lender that could help her in this particular situation.

Please make an application when you're ready and once approved you can get a van from any dealer. Kind Regards, Rachel

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Hello, I have bad credit due to my divorce settlement! I am also behind with my financial commitments although I have arranged with my creditors a minimum payment each month.

I would like to buy a van to start a business but have no regular income. Is there any chance of getting credit? I am looking for about £3000. Thanks, Zain

Answer

Hi Zain, thank you for your question.

As you have a poor credit history and no proof of income we'd really struggle to get you accepted for a van loan.

We do have lenders that help people with past issues but they need to see 3 months income (payslips or bank stats). My advice would be to rent a van for 3 months giving you the opportunity to work and prove your income.

Please make an application when you're ready and once approved we provide a no obligation quote and you can buy a van from any dealer in the UK. Kind Regards, Rachel

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Rachel Wilson, Underwriting manager

Asset 1 Just get in touch,

we'll try to help Asset 2

Rachel Wilson, Underwriting Manager

Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

We compare products from 18 of the UK's top lenders to get you the best deal.

Hitatchi

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender