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- No deposit needed
- PCP and HP from 9.9% APR
- Free car history and dealer check
My monthly budget
Van finance lets businesses acquire commercial vehicles affordably. Terms range from 24 to 60 months with rates starting at 9.9% APR. Options suit various needs, from sole traders to fleet operators, with flexible deposit requirements starting at £99.
Calculate your car finance
Must be between £100 to £10,000 and difference between borrow and deposit must be £5,000
These estimates are subject to credit checks and may change when you apply for finance. this is for example purposes only
Hire Purchase (HP)
APR 14.9%60 monthly payments of
£0
- Interest rate
- 14.9% APR
- Amount of interest
- £0
- Total payment
- £0
Personal Contract Purchase (PCP)
APR 14.9%60 monthly payments of
£0
- Optional final payment
- £0
- Interest rate
- 14.9% APR
- Amount of interest
- £0
- Total payment
- £0
Rates from 9.9% APR. Representative 19.9% APR. Hire Purchase (HP) Example: Borrow £10,000 over 5 years with a £0 deposit. Representative APR 19.9% fixed rate. Monthly payment: £255. Total cost of car finance: £5,329. Total amount repayable: £15,329. Car Finance+ is a credit broker not a lender.
Understanding van finance options
Each finance method serves different business goals. Your choice affects cash flow, tax benefits, and eventual ownership status. Monthly payments depend on factors like deposit size, term length, and finance type.
- Hire Purchase - Take ownership after completing fixed monthly payments over 24-60 months
- Finance Lease - Lower payments plus final balloon payment, ideal for VAT-registered businesses
- Contract Hire - Fixed monthly rental including maintenance
- Personal Contract Purchase - Flexible end options with lower monthly costs
Tax implications vary by finance type. Hire Purchase allows capital allowance claims while lease payments count as business expenses. Contract hire simplifies budgeting by including maintenance costs.
How to buy a van on finance
The process moves quickly - most lenders decide within 24 hours and release funds within 3-5 working days after approval. Your credit score and business history shape the available options and rates.
- Check your credit score and gather financial documents
- Compare finance products and total costs
- Submit application with required proof of income
- Review and accept offer terms
Available funding ranges from £1,000 to £250,000 based on circumstances. Factor in additional costs like insurance, maintenance and potential mileage charges when budgeting monthly payments.
Applying for van finance
Most lenders perform soft and hard credit checks during assessment. Initial eligibility checks won't affect your credit score, while final approval requires comprehensive assessment. Decisions typically arrive within 48 hours.
- Provide government-issued ID and proof of address
- Submit recent bank statements and tax returns
- Verify business registration for commercial use
- Show valid insurance documentation
Application success rates vary based on credit history, business performance, and affordability checks. Clean credit histories and stable business income improve approval chances.
Van finance for self-employed
Self-employed applicants need to demonstrate stable income through business accounts or tax returns. Most lenders require 1-3 years of trading history, though some offer options for newer businesses.
- Two years' business accounts or tax returns
- Three months' business bank statements
- Valid trading licenses and insurance
- Proof of sustainable income
Rates start from 6.9% APR for strong credit profiles. Low deposit options from £99 help manage upfront costs while maintaining working capital.
Documents required for van finance
Prepare documentation covering the past 3-24 months of business activity. Requirements vary based on your business structure and chosen finance product.
- Current UK driving license and proof of address
- Business bank statements for last quarter
- Company documents or self-employed registration
- Insurance certificates and trading permits
Contract hire agreements often need additional financial evidence. Keep documents updated to speed up application processing.
Comparing buying vs leasing
Purchase finance builds equity but requires higher monthly payments. Leasing offers lower payments and regular vehicle upgrades but includes mileage limits and wear conditions.
- Purchase deposits: £99-10% vs lease deposits: 3-6 months' rental
- Purchase provides ownership and modification freedom
- Leasing includes maintenance and regular upgrades
- Different tax treatments affect overall costs
Choose based on long-term business strategy and cash flow requirements. Consider total ownership costs including maintenance, insurance, and depreciation.
Calculating your van finance
Calculate total costs including interest (9.9-15.9% APR), insurance, and optional maintenance packages. Term lengths affect monthly payments and total interest paid.
- Vehicle price and deposit impact monthly costs
- Terms range 24-60 months affecting total interest
- Optional balloon payments reduce monthly outlay
- Factor in running costs and insurance
Online calculators help compare different finance structures. Remember to include all costs when budgeting, not just the monthly payment.
Alisa Dan
Frequently Asked Questions
( 01 ) What credit score do I need for van finance?
Most lenders require a minimum credit score of 600, though some specialists work with scores from 500. Interest rates range from 9.9% APR for excellent credit to 15.9% APR for lower scores. Alternative options like guaranteed acceptance schemes exist for those with poor credit.
( 02 ) How much deposit do I need for van finance?
Deposits start from £99 for qualified applicants, though typical requirements range from 5-10% of vehicle value. Larger deposits (15-20%) secure better interest rates. Some lenders offer no-deposit options for businesses with strong trading history.
( 03 ) Can self-employed people get van finance?
Yes, self-employed individuals can secure van finance with 1-3 years of trading history. Requirements include recent bank statements, tax returns and proof of stable income. Rates from 6.9% APR available for established businesses with good credit profiles.
( 04 ) What happens if I miss a payment on van finance?
Missing payments affects your credit score and may incur late fees from £25-£35. Contact your lender immediately if you anticipate payment difficulties - most offer payment holidays or restructuring for businesses facing temporary challenges. Persistent defaults risk vehicle repossession.