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I need a van loan so that i can get a vehicle for business use. Can you help?

I need a van loan as i need a new van for my company. I have a discharged bankruptcy and have very low credit, yet without a van i cannot earn money.

Asked by Karen

Hi Karen, thank you for your question.

The only way we'd be able to help you is if you had a substantial deposit of circa 10% to 20%. So if you wanted a van for £5000 you'd need to put in £500 - £1000. We'd also need to see proof of 3 months income (bank statements) as you're classed as self-employed. Is this possible?

Even then as you have a very poor credit rating i can't guarantee we'd be able to get you approved. If this is not an option do you know of anyone who could act as a guarantor that you could add onto the application? Either way please make an application when you're ready and if approved we provide a no obligation quote and you can buy a car from any dealer. Kind Regards, Rachel

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

Liked by 28 People

£
4 Years
Best available rate XX% APR
Total cost of credit £ XXX.XX
Total repayment £ XX,XX.XX
48 monthly
payments of
£ 245 98

Representative example: borrowing £7,500 over 4 years with a representative APR of 25.4%, an annual interest rate of 25.4% (Fixed) and a deposit of £0.00, the amount payable would be £239.77 per month, with a total cost of credit of £4,008.96 and a total amount payable of £11,508.96


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