Van finance calculator

Good credit
Bad credit
Amount to borrow:
£
To repay over:
5 Years
Car finance rate XX% APR
Cost of credit £ XXX
Total repayment £ XX,XX.XX
48 monthly payments of
£ 245 /mo

Representative example - Borrowing £5,500 over 4 years with a representative APR of 19.8%, and a deposit of £0, the amount payable would be £162 per month, with a total cost of credit of £2,282 and a total amount payable of £7,782.

Compare car finance from 20+ trusted providers without affecting your credit score

What is a van finance loan?

A van finance loan is a great way to find the van you need to support your business. It’s cheaper than buying a new van outright and you can change to a new model in 2-3 years. All you have to do is repay the monthly instalments with the agreed interest and enjoy using your new van.

What types of van finance loans are available?

The three main types of van finance you can choose from are:

  • Personal loan: Take out an unsecured personal loan from a bank or lender and repay the monthly instalments for the duration of the contract. You are the owner of the van from the start, allowing you to customise as you wish, or even sell the van if needed.
  • Hire purchase: You will be expected to put a deposit down of at least 10% of the van’s full value. The more deposit you can provide, the lower the monthly repayments.
  • Personal contract purchase (PCP): Many customers find this to be the most cost effective option. Rather than paying for the full value of the van, you are paying for how much it will be worth at the end of the contract. Once the contract is finished, you can keep the van, return it, or trade it in for a brand new model.

Need a little help finding the right option for you?

If this is your first time looking for van finance, you may need a little help to decide on the right option. Use the table below to get an idea of some of the features available with each option.

Am I eligible for a van finance loan?

You are eligible for a van finance loan as long as you:

  • Are aged 18 years or over
  • Have been a UK resident for the past 12 months
  • Receive an income of at least £1,000 each month

If you have not yet qualified for a full drivers licence and currently have a provisional licence, we may be able to help you get a van finance loan.

Will I qualify for van finance?

The only way to find out if you will qualify for van finance is to apply and wait for the lender to perform the necessary credit checks. If you have a good credit history you stand a better chance of securing a deal, but unfortunately, only a ‘hard’ credit check can reveal your full suitability.

There are a number of different factors that go into deciding if you are eligible for van finance. However, if you do not have good credit, Carplus may still be able to help. We allow people with poor or bad credit to apply for van finance, with each application taken on a case-by-case basis.

Van finance for self-employed

If you are self-employed and need a van to support your business, Carplus are here to help. We understand how difficult it can be to get credit for a loan if you are self-employed, which is why we do everything possible to find a deal that works for you. Our trusted panel of lenders are able to put together bespoke loans tailored towards anyone who is self-employed, offering affordable and accessible deals that make a real difference to your business.

Why choose Carplus?

At Carplus every application is treated on a case-by-case basis, giving customers the fairest chance to get the best possible deal.

We have an unbeatable range of van loan options to choose, with loans ranging between £2,000 to £25,000, with mileage up to 120,000 miles and under 15-years-old. With terms ranging from 18 to 60 months, it’s easy to find the right deal to suit your budget. When you finance a van with Carplus, we also perform HPI checks to ensure you have full ownership of the vehicle once everything has been paid off.

Carplus give you access to the most popular models around including:

  • Ford Transit
  • Renault Trafic
  • Citroen Berlingo
  • Mercedes Sprinter
  • Vauxhall Vivaro
  • VW Transporter
  • And much more

And if raising the money for the deposit is a problem, we may be able to help there too. If you meet the criteria you could have the chance to use our no-deposit finance service which you can find out about in more detail when you get in touch.

How to apply for a van finance loan

Applying for a loan with Carplus is easy, taking away the stress and hassle, ensuring you get the quick answers you need.

You can apply for a loan by using the online application form and it only takes a few minutes to complete – with an answer given to you just as quickly.

When applying we’ll ask for standard details such as your name and address. To ensure you get the best deal offers we will also want to know a little more about your current financial situation. If you qualify for a loan, this will let our panel of lenders put forward the best offers matched to what you can afford.

The first part of the application involves going through a ‘soft’ credit check to assess your suitability. If successful, and you wish to take up one of the offers put forward by a lender, you will be able be asked to complete the application on their website, while also undergoing a ‘hard’ credit check.

Will applying for a van loan affect my credit score?

When you apply for a van loan with Carplus we will first perform a ‘soft’ credit check to ensure you are a suitable match for a loan. This information is not passed onto our panel of lenders and will not be recorded on your credit file.

The next step of the loan process involves a ‘hard’ credit check, which will be carried out by the lender whose offer you find most attractive. Unlike a ‘soft’ check, the lender will be able to see your credit history, and whether or not your application is successful, it will be recorded on your credit file.

Before applying for a loan it is important to be aware of your credit rating. You can find out your current score for free by requesting a copy of your file from either Experian, Equifax or TransUnion.

If your application is unsuccessful it could have a negative effect on your credit score. Anyone with a poor credit history may find it is better to improve their credit score before applying for van finance.

How much does van finance cost?

To get a clear idea of how much van finance will cost, be sure to take the following into account:

  • Loan type: The type of van finance loan you choose will influence the amount you have to pay every month. As will the make and model of the van you want to drive.
  • Credit history: You will enjoy lower rates of credit if you have a good credit history. A poor credit history could also mean the interest rates will be higher.
  • Deposit amount: The larger the deposit you can put down, the less you will have to pay across the term of the agreement each month.
  • APR: Carplus APR rates start at 5.9%. Based on your individual circumstances, our lenders will calculate the appropriate APR rate for you to choose from. This will vary from case-to-case and impact how much you pay each month.
  • Additional fees: Mileage, damage and repair fees may be payable at the end of the contract. Also check if the deal includes any additional charges that may not be obvious at first.

Bad credit van finance

Do you have poor or bad credit history and looking to purchase a van on finance? Then you’ve come to the right place. See our dedicated bad credit van finance page and see how we can help.

Need more help? Use our expert guides to find more info

Use our expert guides below to find out how to get the best possible van finance deal. Thanks to our experience in the industry we offer helpful insight that you won’t find elsewhere, allowing you to make a decision that is right for you.

Questions? Speak to a real person

Comparing car finance and car warranties is what we do, so you will get through to someone who can help. Call us from Monday to Friday (8am - 8pm) and Saturday to Sunday (9am - 6pm).