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
July 10, 2011

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

My monthly budget is

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Rates from 8.9% APR. Representative APR 19.9%

My monthly budget is

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Rates from 8.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £10,000 over 5 years with a representative APR of 19.9%, an annual interest rate of 19.9% (Fixed) and a deposit of £0.00, the amount payable would be £255.50 per month, with a total cost of credit of £5,329.80 and a total amount payable of £15,030.

We look to find the best rate from our panel of lenders and offer you the best deal that you're eligible for. We earn a commission for providing our services, but this does not influence the interest rate you’re offered in any way.

Amount to borrow

To pay over

5 years

Assuming your credit profile is:

Total cost of credit	£ 2000
Total repayment	£ 2000

48 monthly
payments of

£ 245 98

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Rates from 9.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £25,000 over 48 months, £3,750.00 deposit, on PCP, with annual mileage of 8,000pa, and a representative APR of 11.9%, an annual interest rate of 11.9% (Fixed), the amount payable would be £394.51 per month, an optional final payment of £7,194.33, with a total cost of credit of £9,912.36 and a total amount payable of £28,444.33.

We look to find the best product from our panel of lenders and will offer you the best deal that you’re eligible for. We earn a commission for providing our services, but this does not influence the interest rate you’re offered in any way.

Vans related questions

Hi, when purchasing a van on finance is it possible to have the VAT put on the finance or does it have to be paid as a deposit? Thanks

Asked by Dean
July 10, 2011

Hi Dean, thank you for your question. Unfortunately all van finance lenders will not finance the VAT on a van so that needs to be covered by yourself by way of cash deposit or part exchange. Do you have a deposit and is it a new or used van you’re after? Regards, Rachel

I work for a security company who I pay £500 per month to rent a van. I'm self employed, have no deposit and I think I have a poor credit rating. Would I be able to get finance for a van?

Asked by Malcolm Wilson
July 10, 2011

Hi Malcolm, we can help self employed people who have bad credit get a car loan however, you’d have to have 3 months bank statements proving your income. A deposit isn’t essential so i wouldn’t be too concerned about this. Please apply for van finance on our site when you get chance. Kind Regards, Rachel

Hi, I'm just wondering of you could help. I am looking for van finance for my business and have been refused with other lenders. I have a deposit of £500 / £700. But I do not want to keep applying to lenders as this is just affecting my credit which at t

Asked by William Mallam
July 10, 2011

Hi William, thank you for your question. As we act as a broker we asses your credit profile and try and match you with a lender that best meets your personal circumstances. The fact that you have a deposit is great news and i take it that you have bank statements to prove your income if required? Where have you applied recently and been refused? If you could let me know it'll give me a better idea on whether we can help or not. Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Rachel

I wish to purchase a 3.5T horsebox from a Main specialist dealer in these vehicles. It is second hand an 05 plate.

Would I be able to use a car finance loan for this type of purchase?

Asked by Andrea
July 10, 2011

Hi Andrea, thank you for your question.

You are in luck as we have a few specialist lenders on our panel that allow customers to purchase vehicles such as horseboxes, provided that they can offer you an approval. Some form of deposit would help our cause and as long as the horsebox isn't over 3.5T you'll be able to drive it with a normal full UK licence.

Please make an application when you're ready, and if approved, you can choose a vehicle from any reputable dealer and we also provide a no obligation quote. Kind Regards, Rachel

Hi Rachel, I'm a self employed builder that requires a new van, as my old one is getting too unreliable. My credit rating is poor, due to mortgage arrears, which are currently reducing as my work has really taken off and i am booked up for the next 6 - 8

Asked by Brendan
July 10, 2011

Hi Brendan, we potentially may be able to get you approved for finance around the £5000 mark - would that be of any use? Also, can you prove your income with bank statements, do you have a deposit and are you on the electoral roll? Rachel

Can you help get me van finance here in Northern Ireland?

Asked by Paul
July 10, 2011

Hi Paul, it is a possibility if you have good credit. Is this the case? Kind Regards, Rachel

Hi Rachel, I run my own limited building company which is expanding at a very quick rate. I have nearly been booked up for 2014. I was in a partnership which I terminated due to my partner taking money from the business without my knowledge, ultimately en

Asked by Sam Keogh
July 10, 2011

Hi Sam, thank you for your question.

We do have lenders that help people in debt management plans get van finance. As long as you can prove 3 months income with bank statements or payslips, have a UK licence and have some current clean credit we should be able to get you approved.

Once approved we offer a no obligation quote and you can choose your van from any dealer. Rachel

Hi, I am self employed with a poor credit history, but i have been trying to pay it back for the last two years and haven't missed any payments. I have been in continuous work for the last 2 years and can prove my income with bank statements and tax retur

Asked by K
July 10, 2011

Hi K, if you've been paying everything back on time for the last 2 years then there's a strong possibility that we can help even though you have a poor credit history. It's also good to note that you can prove your income with bank statements etc. Would you have a deposit at all and are you on the electoral roll? If so, please make an application on our site and we'll take it from there :-)

Hi, I'm a newly self employed electrician with a poor credit histrory (I was silly when I was young and then being paid off didn't help). I have manageable debt that I'm paying off but in desperate need of a van or I cannot continue being self employed. I

Asked by Daryl Johnston
July 10, 2011

Hi Daryl, we have 1 lender that may be able to help. Please apply and we'll get back to you within the hour. Regards, Rachel (let me know your reference number too).

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CarFinance 247 is a trading name of CarFinance 247 Limited. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. (Registration Number 06035525).

CarFinance 247 is authorised and regulated by the Financial Conduct Authority for insurance distribution and credit broking (Firm Reference Number: 653019). CarFinance 247 is registered with the ICO (Registration Number Z1897658).

Finance is subject to status and is only available to UK residents aged 18 and over. Written quotations are available on request.

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