Bad Credit Van Finance2021-01-16T14:15:15+00:00

Bad credit, guaranteed van finance?

Bad credit, guaranteed van finance?

Any van | Any dealership | No deposit | All credit scores considered

Get a quote

No obligation, no impact on your credit score

Rates from 5.9% APR. Representative APR 18.9%

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Can you offer me guaranteed van finance?

 

We’re sure you’ve seen adverts claiming ‘Guaranteed Van Finance’ or ‘Bad Credit Finance Guaranteed’. But the reality is, it’s not possible. No one can offer guaranteed van finance, and if they claim they can, they are not being truthful with you. The reason guaranteed finance is not possible is because there are lots of checks that need to be done before any finance company can offer you anything. In fact, there are regulations in place to stop companies saying they can offer guaranteed van finance, it’s illegal. If you want to see the rules, they form part of the 2010 Consumer Credit (advertisements) Regulations.

I have an offer of guaranteed finance, I’m not sure what to do?

 

If you want our advice, stear well clear. Why? Because it is almost certainly not what it seems. We know it can seem really tempting, especially if you have a poor cedit score, but the old saying applies, if it seems too good to be true…

In our many years of experience at The Vehicle Financer, we’ve heard all kinds of horror stories about what happens to people who go for guaranteed van finance. They’ve had:

  • their details sold on to other dubious companies, like high interest loan companies who then contact you relentlessly
  • requests for large upfront payments
  • multiple credit checks carried out, damaging their credit score further
  • restrictions put on what they can buy and where from

We don’t think that’s right or fair. So, if you’ve been offered guaranteed van finance, please give us a call first, before you sign anything, and let us see if we can help.

Why is guaranteed van finance not available?

 

Guaranteed van finance is not available because of two reasons, finance companies:

1. Have a responsibility to make sure you can pay back any money they lend you. This means they have to carry out a number of affordability checks. They do this by checking your earnings, your incomings and outgoings and your credit history, which is why we ask for three years of address details when you ask for a quote. Your credit history details how much you owe and to which companies, as well as showing whether you’ve managed to keep to your payment schedule.

2. They have a set of criteria of their own that you’ll have to meet before they’ll consider lending you any money. No one, except those who work for the finance company themselves, can tell you what these are. So, it’s impossible for anyone to say that they know you’ll be accepted before they’ve taken all your details and submitted them to the finance company for checking.

This may seem complicated and feel a bit like the finance companies are being nosey, but the checks are to ensure lenders don’t offer van finance to people they know might struggle to pay it back. It really is there to protect you.

I have bad credit, is van finance still available?

 

Yes, we have lots of bad credit financing specialists on our panel. They are used to dealing with people with poor credit scores all the time. We’ll be honest though, having a poor credit score will affect the finance you’re offered. We may not, for example, be able to find you the lowest interest rates. This will usually mean that you could end up paying more for your van than you would if you have a good credit score. And we still can’t guarantee that there’ll be finance that’s suitable for you. But, we will try our best to find you something that fits your budget and allows you to get the van you need.

What we can guarantee is that we won’t sell your details on, make you buy certain makes from certain places and we definitely won’t ask you for any payment upfront. So, don’t let a poor credit score put you off talking to us, give us a call.

Our van finance calculator can give you an idea of what your monthly payments might be.

Can you help, my application for van finance has been refused?

 

To answer this question we’d need to know why you’ve been refused van finance. If it’s because you have poor credit, we’ll certainly try to help, we work with a wide range of bad credit specialist lenders. However, if you’ve been made bankrupt, you’re in an Individual Voluntary Agreement (IVA) or a debt solution, or you have County Court Judgements against you, we probably won’t be able to help. We know it may seem unfair, as you’re likely to need finance the most in these situations, but it really is to protect you. It stops you getting into further debt, which will only make your current situation worse.

Let’s get started

Answer the questions, it’s the usual stuff – name, time at current address that kind of thing – and we’ll do the rest.

Get a quote

No obligation, no impact on your credit score

Why The Vehicle Financer

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We’re finance experts

We work with a wide range of lenders, who we know and trust. This helps us get the very best vehicle finance deal for you.

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We’re vehicle experts

We’ve been in the vehicle finance business for over 20 years – we know our stuff. Find your own car, or tap our knowledge, it’s up to you.

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We’re customer service experts

We want you to be happy and we’ll do everything we can to make that happen. If you need some help, just ask.

Our experts know the answer

Can I apply for car finance if I have bad credit?2020-06-23T16:43:05+01:00

Yes, you can apply for car finance even if you have bad credit. At The Vehicle Financer, we’re people just like you, so we know the ups and downs of life and understand that sometimes your credit score can be affected. We don’t think you should miss out when this happens, so we work with some lenders who specialise offering finance to people with low credit scores. And, the great news is, if you’re offered finance, and you keep to the monthly payments, your credit score will improve.

Do I need a deposit to apply for car finance?2020-06-23T16:43:02+01:00

No, you don’t need a deposit, which means you can apply without having to wait to save up. If you do have a deposit, great! Let us know and we’ll take this into account when we approach lenders. Part exchange is something we can do as well, so if you have a car you want to use as part exchange, talk to us about it.

Can I buy a car from anywhere?2020-06-23T16:42:54+01:00

Yes, you can. If you spot a vehicle you think you might like, give us a call and we’ll talk you through what happens next. If you really don’t have time to look, or you just don’t fancy searching though hundreds of cars, we’ll do it, because we love it. Just let us know what you’re after and we’ll get right on it.

Can you offer me guaranteed car finance?2020-06-23T16:42:47+01:00

No, no one can, and that’s the truth. This is because lenders need to carry out a number of checks before they decide whether to offer car finance to you. By law, they need to check you are who you say you are, you earn what you say you do and you can afford to pay the monthly payments. They can’t do this without asking for information from you, and once they have that information, it may be that they have to say no. So, if anyone says they can offer you guaranteed car finance before asking you anything, they are not only being dishonest, they are actually breaking the law.

What information do I need to apply for car finance?2020-06-23T16:41:13+01:00

There are a few things we need to know if you want to apply for car finance. If you get the following ready before you start your application, it’ll be much easier. We’ll need:

– your address for the last three years
– an idea of your credit score
– details of what you do for a living and how much your earn

This might seem a like a lot of personal information, but it’s the minimum we’ll need from you to start your application. Don’t worry though, only us and the lenders we think best suit your circumstances see this, no one else. And we would never sell or pass your details on to other companies.

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