Affordable Van Finance

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Rates from 7.9% APR. Representative APR 22.09%

Representative Example: Borrow £6,000 with £1,000 deposit over 48 months with a representative APR of 22.09%, the monthly payment would be £152.49, with a total cost of credit of £2,319.37 and a total amount payable of £7319.37. CarLoans UK is a broker not a lender.

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Whatever your business, you may need a van to keep it running smoothly, to transport your tools and equipment, fulfil orders or allow you to travel to work in different locations. For this, you need a vehicle that is both sturdy and reliable.

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Representative Example: Borrow £6,000 with £1,000 deposit over 48 months with a representative APR of 22.09%, the monthly payment would be £152.49, with a total cost of credit of £2,319.37 and a total amount payable of £7319.37. CarLoans UK is a broker not a lender.

How Does Car Finance Work?

The Initial Deposit

This step isn’t always required. Although, placing down a deposit when completing a car finance agreement is highly recommended.

Repayment Plans

Depending on the agreement that has been put in place for example HP, PCP & CS, your repayment plan may vary.

Contract Completion

Upon completion of your contract, you will then have a number of different options available to you. Which we will state below.

CriteriaPersonal Contract Purchase (PCP)Hire Purchase (HP)Conditional Sale (CS)
The Initial DepositThe Majority of Lenders Will Require A DepositOptionalOptional
Repayment PlanYou Pay Less But Have 3 Options At The End of Your AgreementPayments Are Slightly Higher Than PCP However You Will Own The Car At The End of Your AgreementPayments Are Slightly Higher Than PCP However You Will Own The Car At The End of Your Agreement
Contract Completion• Optional Final Payment - Pay This And Own The Car

• Pay Nothing More And Hand The Car Back

• Trade The Car In, Using Positive Equity To Fund The Deposit For Your Next Vehicle.
A Small ‘Option To Purchase’ Fee, Which You Need To Pay To Become The Legal Owner Of The Vehicle (Maximum £50)No Final Payment, Car Is Yours After The Last Instalment
Fixed Monthly PaymentsYes - You Can Make Overpayments Up to 8 Times A Year And Up To £8000. This Reduces Your Term Or Monthly Payments.Yes - You Can Make Overpayments Up to 8 Times A Year And Up To £8000. This Reduces Your Term Or Monthly Payments.Yes - You Can Make Overpayments Up to 8 Times A Year And Up To £8000. This Reduces Your Term Or Monthly Payments.

Types Of Car Finance In More Detail

At CarLoans UK, we provide numerous amounts of different finance options across our car finance brokerage site. Which then allows you to find the best way to pay with ease. Including but not limited to PCP Car Finance, HP Car Finance or No Deposit Car Finance just to name a few. Because CarLoans UK has got you covered,  don’t believe us? Then take a look at our excellent trust pilot reviews and see for yourself.

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Frequently Asked Questions

A car finance broker is essentially a middle man between the customer and the lender. A car loan finance broker will take care of all of the complicated paperwork as well as the negotiations with lenders. Which essentially means you can sit back and relax knowing that the broker is fighting your corner to get you the best deal possible. All whilst making your car finance journey as stress free as possible. Not only this but car finance brokers such as ourselves, also have deals that aren’t usually available to the general public, and to top it all off. Car finance brokers will actually charge the dealerships instead of the customer.


If you have been refused by other brokers in the past, all is not lost. At CarLoans UK we have a number of finance options for those with bad credit scores. However, you should be aware that when you apply for car finance through us, a hard credit check will be conducted, which may in turn have a negative impact on your credit score. Especially if these credit checks have been done in quick succession. So therefore it is recommended that after being declined for car finance, you should wait between 3-6 months before applying again.

If you are struggling to keep up with your car finance repayment plan. There are a number of options available to you. It is of great importance that you obtain free independent advice from one of the following charities/organisations. 

Money Advice Service

National Debt Line

Citizens Advice

Initially, applying for a car loan usually will have a negative impact on your credit score. Although, you should be aware that if you make your car loan repayments on time. This will most likely have a positive impact on your credit score.


APR stands for annual percentage rate and is the total amount charged for the lend. There are, however, two different types of APR.Exact APR in short means that the rate that is shown to you, is the rate that you will get. Whereas, representative APR however, means that 51% or more of the people who apply for the finance will receive that rate. What this means is that customers with poor credit scores could see a higher APR.

Representative APR is, for the most part, used to advertise the companies rates. After you have provided all of the necessary information to the lender, they can then offer you your exact APR rate.

What is it?

Gap insurance stands for Guaranteed Asset Protection.

Essentially gap insurance is, is a form of insurance that is designed to cover the difference between the amount your insurance provider pays out in the event of your vehicle either being written off or stolen and the price that you paid for the vehicle. You should however be aware that gap insurance works alongside your standard car insurance and is in no way a substitute.

So when is gap insurance needed?

Gap insurance can be worthwhile in several ways. Firstly, if you have taken out a big loan to buy your car. Gap insurance would be beneficial as mentioned previously if your car is stolen or written off. This is because the gap will pay off the outstanding finance.

As well as this, gap insurance could also be beneficial if you are worried about your car depreciating. A brand new car will lose between 15-35% of its value in the first year. Therefore gap insurance can help you get a bigger payout if your car is written off after it has already depreciated.

Where can I get gap insurance?

Comparing gap insurance quotes has never been easier thanks to Bright Compare!

If the vehicle is faulty on delivery, you can simply refuse the car and send it back to the dealership.

Whether you are a new startup, a sole trader or an established business, your method of transportation could be the most important part of your business. Luckily, there are funding options available to you whatever your situation.

Once you have chosen the right vehicle for your business, you can now start to compare deals. It’s important that you carry out detailed comparisons of all of the finance options available to you.

Many lenders will ask for information regarding your income, credit history, and residential status before agreeing to a van finance deal.

The first advantage of van finance is that you won’t need as much initial capital compared with making an outright van purchase. You will still need to provide a deposit. You will obviously be able to get a far better quality van with a finance deal than buying outright. So if you think that it’s important for your business to appear professional, with a new or nearly new used van, then this is clearly a huge advantage.

In terms of reliability, a newer vehicle should have far fewer issues and is less likely to cause you to miss appointments, and this should also be taken into consideration. You will naturally be preoccupied with your business and need a vehicle that’s reliable. You don’t want a van that will use a lot of time and money to remain fit for purpose. You also need to consider whether in your line of business, usage is likely to be heavy.

A huge disadvantage of buying a van outright is that any servicing, maintenance and repairs will be at your own cost. Finance and leases usually include these items within your contract, freeing you to get on with your trade or service.

With any van, once you come to sell it, selling a vehicle that has depreciated in value since you bought or leased it is a headache, if not near impossible. With a lease agreement, this is not your problem. As soon as you reach the end of your agreement, you can hand it back and start looking at your next vehicle.

There are some advantages in owning your vehicle. The most obvious one is that once you’ve made the large initial outlay, the van becomes a valuable asset. You can sell it at any time if you want to upgrade or no longer need it.

Not everyone likes the fact that, with a lease agreement, you are paying every month for a vehicle that you will never own. This of course does not apply if you have a lease to buy plan.

Some people also feel restricted by the agreed mileage amounts and are simply unable to make a realistic estimate because they don’t know exactly where the business will take them, or what will happen if the business expands. You may simply want the freedom and flexibility that van ownership will afford you.

If your business is new, you are self employed or if you have any bad credit, it’s likely that the lender will ask for a higher initial payment before agreeing to lend you the money. They will also look at the length of time that you have been at your current address, and may ask for your previous addresses.

There are some tax implications that you should consider when you look at finance options.

If you are leasing a van, there are some advantages when it comes to your tax return. You can claim the cost of the lease payments against your income tax bill. It will, however, depend on the method by which you pay tax.

If you are using traditional accounting methods, you simply claim your costs as a capital allowance.

If you use cash basis accounting, the situation is similar unless you are also using simplified expenses. You can claim up to 100% VAT on the monthly payments if you are a VAT registered business. In this case, you must only be using the van for business purposes. You could also claim the leasing costs as an expense. This is because they can be identified as a tax-deductible expense.

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Rates from 7.9% APR. Representative APR 22.09%

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CarLoansUK © 2022 All rights reserved

Car Loans UK is a trading style of Wallace Bohen Ltd, a company registered in England and Wales. (Company number: 12382512, Registered Address: 4th Floor, Kingsgate, Wellington Road North, Stockport, Cheshire, SK4 1LW. We act as a credit broker and not a lender and are authorised and regulated by the Financial Conduct Authority for consumer credit FCA no.928674. CarLoansUK can introduce customers to a limited number of finance providers based on overall credit profile and may receive a commission for such introductions, this will not impact the rate you are provided. We do not charge a fee to the customer for arranging the finance. Written quotations on request. All finance subject to terms and status Data Protection Registration No.ZA766848.

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