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How to buy a van with poor credit history

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How to buy a van with poor credit history characters

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.

49.6% APR Representative – Subject to status and affordability

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I have bad credit but need a van. What now?

It is usually easier to be approved for credit if you 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.

At Go Car Credit, after the initial review we can look beyond your credit history so it’s still worth applying for finance with us.

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

It is possible! We know that being self-employed can mean there are financial ups and downs, and this can have an impact on your credit file. But this shouldn’t put you off looking for a new van to get around in – especially when the van is so crucial to your livelihood.

Why is it hard for self-employed workers to get credit or finance?

When you’re self-employed, it can often be difficult getting van finance. With bad credit and being self-employed too, this can make things a little more complicated. This is because, unlike full-time employees, self-employed workers can’t easily provide proof that they receive regular income. Plus, it’s hard to reassure potential lenders that there is a regular stream of income in the future, so there’s no guarantee the loan or finance will be paid off in line with the repayment schedule.

If you have a bad credit history already, this could make it even more difficult for you to get approved. But when you search for self-employed car finance with us, you’ll find that we could look beyond just your credit score. Instead, we look at the big picture.

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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.

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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.

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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.

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
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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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Contact us about bad credit van finance today

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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