How to buy a van with a poor credit history

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van finance bad credit

Rates from 29.7% APR
40.9% Representative APR -
Subject to status and affordability

Are you searching for a new van? Is your poor credit history putting you off researching the best finance options? If you’re currently looking to apply for van finance online but your bad credit score is making you think twice about your application, you’re in the right place.

At Go Car Credit, we’re experienced in helping customers get the van they want – even if they have poor credit history. We know that having a bad credit score can feel disheartening, but that doesn’t mean van finance is out of your reach.

After the initial checks, we will talk to you about your current situation to find out how things are looking for you financially. After that, we’ll consider your application and, if successful, we’ll talk you through your options.

If your poor credit files and history have closed the traditional lending routes, bad credit van finance with us might be a good choice for you.


Representative example – Total amount of credit £9,000, annual interest rate 21.75% (fixed), charge for credit £10,092.32 (£9,787.32 interest, £295 admin fee and £10 option to purchase fee), total amount payable £19,092.32. Loan term of 60 monthly instalments, 59 payments of £318.04 and 1 final instalment of £328.04. 40.9% Representative APR – Subject to status and affordability


How does bad credit van finance work?

At Go Car Credit, we try to set ourselves apart from other lenders by making the application process as smooth as possible. Just like Bad Credit Car Finance, our van finance process works in very much the same way.

Once you have completed our simple 2-minute application form, our specialist team will be in touch to confirm key details. At this stage, you may be asked to provide additional documents to support your application.

Next, our underwriting team will evaluate and offer a decision based on your individual circumstances. If approved, we can then offer advice on the best van financing option for you.

It is usually easier to be approved for credit if you already have a good credit history. But if yours isn’t looking great, it might still be possible to get a quality used van on finance even with bad credit. Knowing your score is a great starting point before you apply, as it may provide you with an indication of how your credit profile may be perceived by a lender.

To find out your score and review your credit file, contact one of the three main credit reference agencies – Experian, Equifax or TransUnion (formerly Callcredit) – for a free credit check. Once you know your score, and you’ve had a look at your credit file, you can start looking for van finance.


Can I get bad credit van finance as a self-employed worker?

Can I get a van on finance if I am self-employed?

Yes, you could. At Go Car Credit, we understand that being self-employed can mean there are financial ups and downs which can have an impact on your credit score. However, this shouldn’t stop you from looking to purchase a van on finance, particularly if a van is crucial to your livelihood.

Self-employment can make van financing more difficult. Combine this with having a poor credit history and things can get a little more complicated. This is because, unlike full-time employees, it is more difficult for self-employed workers to easily provide proof of regular income. Potential lenders might not be able to offer a guaranteed loan and require more reassurance that a repayment schedule will be honoured.

Since we are a direct lender, a self-employed van finance application is much more straightforward than applying through other brokers. This also means fewer fees and a quicker application process.

Our specialist team review all applications on a personal basis as every situation can be different. Since we do not use the same lending criteria as other mainstream lenders you could still be successful in your van finance application. Once your application is submitted and initial financial checks are complete, we’ll endeavour to give you a decision as quickly as possible.



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Can I get van finance on hire purchase?

Although we can’t guarantee you’ll be accepted, we do offer hire purchase. This could be a good option, especially if you have poor credit.

When you choose hire purchase, you’re buying your van without having to pay in full before you drive it and your purchase is secured against the vehicle. You’ll put down an initial deposit and then repay the rest in monthly instalments plus the interest.

The vehicle is legally owned by Go Car Credit until it is fully paid off, although you will be the registered keeper while you pay the monthly instalments. When you’ve reached the end of the payment schedule and everything’s been paid off – including the van’s value plus an amount of interest together with the £10 option to purchase fee– the van is legally owned by you.

Perhaps a job’s fallen through, or you’re suddenly faced with a loss of income for another reason. Either way, if you can’t make the repayments, let us know as soon as possible.

The sooner we know, the sooner we can work out how to help you. We can repossess the vehicle, but this is a last resort and there may be different options available before we get to that point.


Am I eligible for poor credit van finance?

We are committed to offering customers the best solution to van financing with poor credit. However, in order to be eligible for one of our products, you must first meet our lending criteria.

These criteria include age above 25 years or over and having lived within the UK for a minimum of 3 years. As well as this, you must have a full driver’s license and have an income of at least £1500 going into an account with your name on it. Once these criteria are met, we can consider you for one of our vehicle finance products.


Will Go Car Credit Consider me for van finance with my bad credit history?

We know that there are plenty of reasons why you might have a less than ideal rating, especially if you’re a self-employed van driver. That’s why after the initial checks and being approved for finance we’ll get the full story from you and then review your current circumstances.

We still have criteria that need to be met before we can approve any application, so we cannot guarantee you’ll be successful, but we pride ourselves on our record of opening up bad credit van finance as an option to a greater number of people.


How can I apply for bad credit van finance?

Whether you’re self-employed and looking for a van loan or you’re after vans on finance when you have bad credit, speak to us. We specialise in getting people back on the road, even when their credit file is poor.

When you apply for van finance at one of our UK dealerships, we’ll talk to you about your income and outgoings and work out how much you could afford. We’ll work out a repayment plan, too, so that it’s achievable.

To give you an idea of the costs for financing your next van, use our car finance calculator to get an idea of how much your typical repayments will be. This will also show you a timetable of how long it may take to pay for the van in full.


Why choose Go Car Credit?

We’re experts in arranging finance for van drivers who have a poor credit history. This is what we offer:

  • Easy to apply: Applying online is simple, and if you’re approved we’ll be in touch to discuss your personal repayment plan
  • No hidden costs: All terms and conditions are explained upfront, so you don’t need to worry about nasty charges being sprung on you
  • Responsible lenders: We’re regulated by the Financial Conduct Authority and only ever offer what you can afford to pay back
  • Highly recommended: We have an ‘excellent’ rating on Trustpilot, which is based on independent customer reviews

Even if you have a less than ideal credit history, we may still be able to help you secure bad credit van finance. So, why not apply for van finance online today and see if Go Car Credit can get you up and running.

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Do I need a deposit to apply for van finance?

While a deposit is not mandatory, it can greatly improve the chances of a successful van finance application. Should you want to apply without a deposit, we’ll calculate your repayments as well as any interest and agree on these with you upfront. However, an application with no deposit will likely result in higher monthly repayments.

Is van finance the same as car finance?

Yes. Van finance and car finance are essentially the same processes depending on whether you are self-employed and require a vehicle for business use. All vehicle loan applications through Go Car Credit are Hire Purchase Agreements that contain the same lending criteria.

Is there a minimum credit score I need to have before applying?

No. While we do review your credit profile before making a decision, we also take into account personal circumstances such as affordability in order to offer you the most suitable lending product. A poor credit score doesn’t mean you cannot apply for van finance. You can even look to repair your credit score by making regular payments on time during your agreement.

Can I purchase any van on finance?

Alongside our lending criteria, we do also implement vehicle criteria for every car and van finance application. Subject to status and affordability, the van you choose should cost between £3,000 and £15,000.

As well as this, we also consider the mileage of the vehicle. For example, a 36-month loan agreement requires the van to have a mileage of 110,000 or less. 48-month agreements require a mileage of 100,000 or less. Applications for loan agreements for 48 months or longer will require an even lower starting mileage.

Will applying for van finance impact my credit score?

Making an initial application with Go Car Credit will not make an impact on your credit score. However, once you have committed to a loan agreement with us, we will then do a hard search which is very likely to show on your credit profile.

I have previously declared bankruptcy, can I still apply?

Yes, you can still apply for vehicle finance if you have previously been declared bankrupt and have since been discharged. However, if you are currently subject to bankruptcy then we will not be able to approve a vehicle finance application.

Do I have to pay more because I have a poor credit history

There are instances where a poor credit history can mean you are charged higher interest rates. If you are approved, the van you choose, the size of your deposit and the length of your repayment plan will also have an impact.

Everyone’s circumstances are different and our team after the initial review, will check through your application, look at your finances in detail, then draw up a personalised plan that suits you.

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