A Better Road Ahead

If your credit score isn't looking great, it is still highly possible that you can get a van on finance. Credit scores vary across the board and there are many different factors and situations that can impact it negatively. Some of the things that can cause your score to be low include:

  • Minimal credit history (you haven't taken out loans and have always paid in cash for things)
  • Shared credit with another person who had credit issues and now your file is associated with their poor credit history
  • Missed payments on other credit agreements
  • Historical CCJs
  • Historical Defaults
  • Credit Arrears

Your credit score can drop significantly if you make a financial mistake, but we don't think that should impact the opportunities you have to purchase a van. Whether you are self-employed and looking for a van loan, or require van finance despite having bad credit, our team specialise in getting people back on the road.

We strongly believe that those with low credit scores should not be penalised for their previous financial circumstances, which is why we take a unique approach when it comes to deciding whether someone can be approved for van finance with bad credit. At Advantage Finance, it's as much about your current financial situation as it is your previous, as we largely try to focus on where your finances are now, and where they will be in the future. Put simply, most of our decision is based around current income and outgoings;as long as we are confident that you can afford van finance, despite your poor credit history, it's likely you will get approved.

Van Finance For Self-Employed

Being self-employed can have many ups and downs itself, and can sometimes have an impact on your credit file. To add to this, being self-employed can sometimes make it harder to provide proof of a regular income, which is why you may have been rejected from other van finance companies. However, just like with our bad credit van finance approach, when it comes to van finance applications from people who are self-employed, we look at the bigger picture, every time. We treat every application individually, looking at our customer's entire circumstances and not just their credit score.

Van Finance For Bad Credit

We know there could be many reasons for having a less than ideal credit rating, but that doesn't mean that you are unable to afford a van on finance now. So, our approach to van finance for bad credit involves truly getting to know our customers and their financial situations, understanding the full story so that we can review, and make a fair decision, based on the factors that matter. We believe that as long as you want to improve your credit score now, and for the future, there's no reason why you shouldn't be able to get behind the wheel of a van and better yourself and/or your business.

We still have a criteria that needs to be met for all van finance applications, which is why we cannot claim to offer guaranteed van finance for those with poor credit. However, we pride ourselves on the amount of people we help to get on the road each year, and we are confident that, as long as you are striving for a better financial future, you could be our next customer.

How Does It Work?

Whether it's for personal use, or it is going to strengthen your business, investing in a safe, sturdy, and reliable van is imperative. However, vans can come at a significant cost, which is why many people opt for van finance . As one of the leading van finance companies in the UK, our van finance deals have supported thousands of people up and down the country - many of which have lower than average credit scores.

The type of van finance we provide is HP Van Finance. Hire Purchase (HP) is a type of van loan that is paid back by the customer over a set amount of time (usually a couple of years). The cost of the van will be split into affordable monthly payments with a fixed rate of interest. Once the final payment has been made, the van is yours. HP is one of the best types of van finance options to choose from, especially if you have bad credit history. This is because it is highly flexible, and allows us to tailor a deal completely based on your finances and budget. As a result, we can ensure that you won't be signing a van finance agreement that you can't afford.

Bad Credit? Apply For Van Finance Today!

If you have a low credit score and are looking for van finance deals tailored around your current finances, then get in touch with Advantage Finance today. With a fast application process, you'll find out quickly if you have been approved so that you can get looking for your dream van. Contact us today by calling: 01472 233 200 or emailing: enquiries@advantage-finance.co.uk.

© Advantage Finance Ltd 2001 - 2022. All Rights Reserved

Representative Example: Hire Purchase Agreement repayable over 48 months. Rate of Interest: 14.0% p.a. flat rate(fixed).
Vehicle Purchase Price: £7,500. Deposit: £0.00. Amount of Credit: £7,500. Acceptance Fee: £325.00. Interest Payable: £4,200.44.
Option to Purchase Fee: £200.00. Total Charge For Credit: £4,725.44. 47 Monthly Repayments Of: £250.53 Followed By 1 Final Repayment Of: £450.53
(Final payment includes Option to Purchase Fee). Total Amount Payable: £12,225.44. Representative APR:29.35%.
Hire Purchase. Terms and conditions apply. You will not own the vehicle until all payments are made.
Finance subject to status. Applicants must be aged 22 or over. Finance provided by Advantage Finance Limited.

Advantage Finance Ltd is registered in England and Wales with company number 03773673.Registered office: 2 Stratford Court, Cranmore Boulevard, Solihull, B90 4QT.
Advantage Finance Ltd is authorised and regulated by the Financial Conduct Authority (Firm reference No. 307864). www.fca.org.uk
Advantage Finance Ltd is a member of the Finance and Leasing Association www.fla.org.uk
Finance is available to UK residents only and is subject to creditworthiness and affordability assessment. Written quotations available on request.
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