Van finance calculator for bad credit

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.

Carplus will find the best car loan rate from our panel of lenders and will offer you the best possible deal. We don’t charge fees, but we earn a commission. This does not influence the APR you’re offered in any way.

We compare car finance deals for you

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Having a poor credit history is not an insurmountable obstacle when it comes to van finance. At Carplus, our goal is to assist you in obtaining the vehicle you want, regardless of your credit rating.

Our finance broker team specialises in bad credit van finance. So, whenever you require a new van and worry about finance due to a bad credit score, we are here to help you work through the options and find a solution to fit your needs.

A van purchase is often essential for work, so we focus on making van finance affordable for all individuals regardless of their credit history. Based on your credit profile, income, and deposit amount, you can get the best interest rate and the most suitable monthly payment.

Depending on your financial situation, we compare over 20 lenders and deliver a van loan of up to £25,000. With our finance, you can quickly buy a van within your credit limit.

It is easy to apply for poor credit van finance online at Carplus. Our professional team is always available to support you at every step. Besides, we promise quick decisions on your van finance to make the process as straightforward as possible.

How to get van finance with bad credit?

Bad credit van finance in the UK is designed for individuals with poor credit who require a van for work purposes and are looking] for assistance with finance. Unfortunately, a bad credit rating is a major problem for traditional lenders.

However, at Carplus, we specialise in poor credit van finance and offer various options that do not affect your credit score. In general, these are hire purchase van finance (HP) and personal contract purchase van finance options (PCP).

PCP is a common way to get finance; however, it requires a higher credit score. This type of credit is characterised by lower monthly payments and, therefore, slower debt pay-off. So, it can be challenging to obtain PCP finance with bad credit.

Therefore, hire purchase is one of the most common options for van finance for bad credit. It is affordable even when other options, such as a personal loan, fail. With HP, you can buy the vehicle you need and arrange monthly payments to suit your budget.

We only use a soft search application process, which means it won’t affect your credit score.

  • We accept CCJs
  • We accept IVAs

Before applying for bad credit van finance, remember to carefully consider your choice of van choice as it directly influences your finance decision.

Think about how you'll use your van in the long term and pick one with the right dimensions to meet your needs in the future. Be sure to consider any additional costs, such as insurance, fuel and maintenance, tax, service, and MOT. Those factors become crucial when applying for van finance with poor credit.

What are your lending criteria for bad credit van finance?

At Carplus, we care about every customer and partner and make sure all arrangements are beneficial and made at the lowest risk possible. It is crucial for us that our customers have enough money in their bank account to pay the necessary van payments despite their negative credit.

We set particular credit criteria which must be met to apply for van finance with bad credit.

We'd be happy to secure your van finance according to the following considerations:

  • We provide up to £25,000 finance for a van
  • The mileage of the van is less than 120,000
  • At the end of the agreement, the van has to be no older than 12 years
  • Van finance is given for 24-48 months

Besides, make sure you meet the following finance criteria:

  • You’re over 18
  • You've been living in the UK for over 3 years
  • You have a full driving license
  • Your income is at least £1,000 per month
  • You are not currently in bankruptcy

If you meet our criteria and would like to apply for bad credit van finance, request an instant decision from us. We'll process your request quickly, and you'll be able to start looking for your van right away.

How to apply for poor credit van finance

With Carplus, the process of obtaining bad credit van finance is quick and easy.

  1. Fill in the application form on our website. One of our representatives may contact you to confirm the details.
  2. Receive fast feedback. We'll process your application and get back to you with the final finance decision as quickly as possible.
  3. Proceed with choosing a van. Our partner van dealers will offer several options to choose from based on your credit limit. You might even be able to get your van on the same day.
  4. Finalise the documents. Right after signing the documents online, you'll be able to drive away your new vehicle.

Bad credit van finance FAQ

Can you get car finance with very poor credit?

Yes, you can get car finance with poor credit. And we can assist you in comparing different lenders and getting a loan on the best terms. However, you need to make sure that your request meets our criteria.

If I apply for van finance, will it affect my credit score?

No, it will not. We always work delicately and utilise only the soft search application process. Therefore, there is no impact on your credit rating.

What kind of credit score do you need to buy a van?

We work with customers with various credit scores. Besides, we specialise in comparing the best finance deals regardless of the credit score. So, even with a poor credit score, we'll work on providing a number of different options.

Do I need a deposit for bad credit van finance?

It’s best if you are able to pay a deposit of at least 10% of the van's price. This way, you'll be able to reduce the amount of interest you pay. However, there are also zero deposit options.

Can I still apply for van finance if I have been bankrupt?

We work with customers with bankruptcy in their history. However, that fact usually reduces the number of finance options available. Such customers usually deal with strict deposit terms and higher interest rates.

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