No Deposit Van Finance
With our convenient no deposit van finance solutions, you can get on the road quickly without having to pay in advance.
At We Finance Any Van, we understand that not everyone has the funds available for a deposit. That’s why we offer convenient no deposit van finance solutions, allowing you to get on the road quickly without needing to pay upfront.
Flexibility and Accessibility: We know that everyone’s financial situation is different. Requiring a deposit can be a significant barrier, so we’ve tailored our finance solutions to be as flexible as possible. Whether you’re a young driver, have a less-than-perfect credit history, or simply don’t have the funds for a deposit, our no deposit options are designed to help you secure the van you need. As industry experts, we understand the system and recognise the unique needs of our customers, offering a range of van finance options for just about every background and budget.
Expert Support: As industry experts, we have a deep understanding of van finance and work with a range of specialist lenders to find the best rates and terms for you. This means you can access finance without the need for an upfront deposit, except in very special circumstances.
Wide Range of Vehicles: From spacious SUVs to commercial vans and compact city vans, our extensive selection of new and used vehicles from trusted dealers means you’ll find the perfect van with a payment plan that suits your budget.
What to Expect from Our No Deposit Van Finance Service
- No Deposit Required: Most of the time, you won’t need to put down a deposit to secure your van finance deal.
- Easy Application Process: Our streamlined application process is designed to be straightforward and hassle-free.
- Soft Credit Check: We use a soft credit check to assess your application, which won’t impact your credit score.
- Specialist Lenders: Access to a panel of specialist lenders who can offer tailored solutions for your financial situation.
- Bad Credit Finance Available: We provide options for those with bad credit, ensuring you can still get the finance you need.
- Trusted Dealers: Work with FCA-authorised dealers to ensure quality and reliability.
How no deposit van finance works:
How No Deposit Van Finance Works
- Find Your Van: Once you’ve identified the new or used van you want, apply for finance.
- Application and Approval: Submit your application and, if approved, you’ll start making regular monthly payments from the finance start date.
- Reservation Payment: You might be asked to pay a small reservation fee (usually around £200) to hold the van while the finance is processed.
- Monthly Payments: Begin your regular monthly payments as agreed. It’s important to keep up with these payments to avoid late fees, damage to your credit score, or repossession.
Options with No Deposit Finance
- Personal Contract Purchase (PCP): With PCP, you borrow part of the van’s value, which often results in lower monthly payments compared to Hire Purchase (HP). At the end of the term, you have three options:
- Make a final balloon payment to own the van outright.
- Return the van and walk away.
- Use any equity as a deposit towards a new PCP loan.
- Bad Credit Finance: If you have a poor credit score or no credit history, you can still access no deposit van finance. Our team will help you find a suitable finance solution tailored to your needs.
Keep your money in your own Back Pocket
Struggling to wrap your head around no deposit van finance? We'll take you through the basics...
With Personal Contract Purchase (PCP), you only borrow part of the van’s value, meaning the monthly payments are typically lower than Hire Purchase (HP) deals. At the end of the agreement, you have 3 options: make a final balloon payment to own the van outright, return the van and walk away, use any equity as a deposit towards a new PCP loan. This makes it a more flexible, more affordable, and more favourable option for no deposit deals.
For those who are eligible for bad credit van finance, bagging your next van with no deposit is still possible. Whether you have a CCJ on your record, a poor credit score, or no credit history at all, we can help you find a finance solution that suits you. Simply fill out your application and leave the rest to us…
If you’re struggling to understand no deposit van finance or need assistance with your application, our dedicated team is here to help. We offer clear, straightforward guidance throughout the process to ensure you get the best deal for your situation.
Ready to drive away in your dream van? Apply now and keep your money in your back pocket!
What is no deposit van finance?
No deposit van finance allows you to secure a van loan without having to make a large upfront payment. Instead, you spread the cost of the vehicle into manageable monthly instalments, which can be a significant advantage if you’re unable to save for a deposit.
Key Benefits
- Immediate Access: Get the van you need right away without waiting to save for a deposit.
- Flexible Financing: Suitable for a variety of needs, whether for business, personal use, or transforming into a camper.
- Budget-Friendly: Manageable monthly payments without the initial financial strain of a deposit.
Eligibility Requirements
To qualify for no deposit van finance, you typically need to meet the following criteria:
- Age: 18 years or older.
- Residency: You must have lived in the UK for at least 12 months.
- Income: A minimum monthly income of £1,000 is usually required.
Additionally, ensure you have a standard driving licence for vans up to 3,500kg. For heavier vans or if you’re towing, you might need additional tests.
Is zero deposit the same as no deposit van finance?
In practice, zero deposit and no deposit van finance refer to the same concept: securing a van loan without an upfront payment. However, you might occasionally need to cover VAT upfront, depending on the lender.
Lenders all have different ways of saying the same things, and have differing requirements from one another; we always recommend reviewing the terms and conditions of the agreement before signing. If you need any help at any point, we will be on hand to help!
Why do we offer no deposit van finance?
At We Finance Any Van, our goal is to make van ownership accessible to as many people as possible. Here’s why we offer no deposit options:
- Financial Flexibility: Many individuals and businesses might not have the cash readily available for a deposit. By removing this barrier, we can help more people secure the van they need.
- Diverse Needs: No deposit finance caters to those who may be starting out in their careers, are self-employed, or have financial constraints. It’s a practical solution for first-time buyers, young drivers, and those facing financial challenges.
- Accessibility: Our aim is to support a wide range of circumstances, making van finance manageable for everyone, regardless of their financial situation.
Under what circumstances will I need to make a deposit?
In the majority of cases, you won’t need a deposit. Here are the specific instances where you might have to:
- High-Value Vans: If the van you’re interested in is priced higher than its estimated value, such as due to high demand or limited availability, some dealers or lenders might ask for a deposit to cover the difference.
- Specific Lender Requirements: While most lenders offer no deposit options, some may require a deposit based on their own criteria or risk assessments. This is less common but can happen in certain situations.
- Special Circumstances: If you’re applying for finance in a particularly high-risk situation or with unusual terms, a deposit might be required to mitigate the lender’s risk.
Can I put down a deposit if I want to?
Absolutely! Even if a deposit isn’t required, many people opt to put one down. Here’s why it might be a good idea:
- Improved Approval Chances: A deposit can enhance your likelihood of getting approved, especially if you have a less-than-perfect credit history.
- Lower Monthly Payments: By reducing the amount financed, a deposit can lead to lower monthly payments, making your budget more manageable.
- Better Terms: A larger deposit might improve your chances of securing a better APR rate or more favourable terms on your finance agreement.
Who is eligible for a no deposit van finance deal?
Eligibility can vary, but generally, the following factors are considered:
- Credit Score: Lenders look at your credit history to assess your ability to make regular payments. A good credit score increases your chances of securing a no deposit deal.
- Income Stability: Lenders need to ensure you have a stable income that allows you to meet monthly payments comfortably.
- Credit Check: We use a soft credit check initially to assess your financial situation without affecting your credit score.
Can I get a no deposit van finance deal if I have a bad credit history?
Yes, you can! While a bad credit history may present challenges, it doesn’t mean you can’t get a no deposit deal. Our specialist panel of lenders understands that financial difficulties can happen, and they are experienced in finding solutions for those with poor credit.
- Deposit Not Always Required: Even with a poor credit history, you may still qualify for no deposit van finance. The lack of a deposit can help manage your budget better over time.
- Tailored Solutions: We work with lenders who offer flexible finance options, including zero deposit deals, to accommodate a range of financial situations.
Can I get no deposit van finance if I am self-employed?
Absolutely! Being self-employed does not disqualify you from securing no deposit van finance. While there are additional considerations compared to someone in full-time employment, many lenders are happy to work with self-employed individuals. Here’s what you need to know:
What Lenders Look For
- Proof of Income: As a self-employed individual, you’ll need to provide documentation to prove your income and financial stability. Common documents include:
- Bank statements
- Tax returns (such as SA302 forms)
- Recent invoices
- Proof of business income
- Open banking data
- Financial Stability: Demonstrating consistent income and responsible financial management is key. Lenders will want to see that you have a steady income to cover your monthly payments.
- Credit History: Your credit score will still be an important factor. A good credit history can improve your chances of getting approved, especially for no deposit deals.
- Business Records: Lenders may also consider how long you’ve been self-employed and the nature of your business. Established businesses with a solid track record are often viewed more favourably.
Can a joint purchase agreement improve my chances of securing no deposit van finance?
Yes, applying with a co-signer or partner can significantly improve your chances of securing a no deposit van finance deal. Here’s how:
- Enhanced Security: A co-signer with a strong credit history can provide additional security for the lender, making them more likely to approve your application.
- Shared Responsibility: Both parties will be responsible for the loan repayments. It’s important to choose someone you trust and ideally someone who lives with you to avoid complications.
- Improved Terms: A joint application might also lead to better finance terms, including potentially lower interest rates.
Looking for a new van but don't have the money for a deposit?
You’re in luck! We understand that a new van is a huge investment and saving for a deposit isn’t always possible. With no deposit van finance, you can spread the cost of the vehicle into achievable monthly instalments, without the burden of a large upfront payment.
Whether you need a trusty mode of transport for your new business, an affordable replacement for your current van, or something that can be transformed into a comfy camper, you’ll be able to find a no deposit deal in no time at all.
When it comes to financing a van, new or used, you need to meet a few requirements:
- You are 18 or older
- You have lived in the UK for a minimum of 12 months
- Your monthly income is at least £1,000
If you have a standard driving license, you can drive a van of up to 3,500kg. For anything heavier, or if you are towing a trailer with your van, you may be required to take a few extra tests.
Whether you’re in full-time employment, are self-employed, or somewhere in between, we will support you through the entire application process.
What types of vans are available to finance?
At We Finance Any Van, we offer a diverse range of vans to suit different needs and preferences. Whether you’re looking for a new model or a pre-owned vehicle, you have plenty of options to choose from. Here’s a breakdown of some of the types of vans you might consider:
Commercial Vans
Designed for business use, these vans are built to handle heavy loads and frequent use. Popular models include:
- Ford Transit
- Mercedes-Benz Sprinter
- Volkswagen Crafter
- Iveco Daily
- Citroën Relay
Panel Vans
These are versatile vans with enclosed cargo areas, providing ample space for transporting goods and equipment. They often come with various configurations for load capacity and interior layout. Examples include:
- Ford Transit Custom
- Volkswagen Transporter
- Renault Trafic
- Peugeot Expert
Minibuses
If you need to transport a larger number of passengers, a minibus might be the right choice. They come in various sizes and configurations. Some well-known models are:
- Ford Transit Minibus
- Mercedes-Benz Sprinter Minibus
- Volkswagen Transporter Shuttle
- Iveco Daily Minibus
Considerations When Choosing a Van
- Purpose and Use: Determine what you’ll primarily use the van for—business, leisure, or transport—and choose accordingly.
- Budget: Consider both the purchase price and ongoing costs. Newer models typically come with higher finance costs but may offer better features and lower maintenance.
- Size and Capacity: Assess how much space you need for cargo, passengers, or both.
- Fuel Efficiency: For commercial use, fuel economy can impact your overall running costs.
- Condition: Decide between new and used vans based on your budget and needs.
Ready to kickstart your journey with We Finance Any Van? Apply now.
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About Us
If you are looking for van finance, you are in the right place!
We have years of experience in van finance, a very extensive lending panel & a team set up to get you the van you want at the best finance rate possible. If you have already found a van and just need the finance – great! If you need help finding a van then we are there for you as well – in fact, we have access to over 300,000 vans.
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