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Vehicle Finance
Specialist Van Finance for Working Tradesmen
Finance your work vehicle with flexible terms and competitive rates. From vans to trucks, we specialise in getting tradesmen mobile.
Rates from 6.9% APR
Representative example: £25,000 over 48 months at 8.9% APR representative
4hr Decisions
0% Min Deposit
£100K
Max Finance
0%
Min Deposit
5yrs
Max Term
Why Choose Our Vehicle Finance?
We specialise in vehicle finance for tradesmen with flexible options to suit your business
4-Hour Decisions
Get a decision on your vehicle finance within 4 hours of application
Rates from 6.9% APR
Competitive rates from our panel of specialist trade lenders
Flexible Deposits
Choose from 0% to 20% deposit - whatever suits your cashflow
Own the Vehicle
With HP finance, the vehicle is yours at the end of the agreement
What We Finance
From everyday essentials to specialist equipment, we have finance options for every need
Vans
- Ford Transit
- Mercedes Sprinter
- VW Transporter
- Renault Trafic
- Citroen Berlingo
Pickup Trucks
- Ford Ranger
- Toyota Hilux
- Nissan Navara
- Mitsubishi L200
- VW Amarok
Commercial Vehicles
- Box trucks
- Flatbed trucks
- Luton vans
- Dropside trucks
- Tipper trucks
Specialist Vehicles
- Cherry pickers
- Refrigerated vans
- Tool storage vans
- Mobile workshops
- Welfare units
Understanding Your Options
Different finance types suit different needs. Here's what you need to know.
Hire Purchase (HP)
You pay fixed monthly instalments and own the vehicle outright once all payments are made. The vehicle is used as security for the loan.
You own the asset at the end
Tax Benefits:
Claim capital allowances on the full purchase price. Interest payments are tax-deductible as a business expense.
Best For:
Tradesmen who want to own their vehicle outright and claim tax relief on the purchase.
Lease Purchase
Similar to HP but with lower monthly payments and a larger final "balloon" payment at the end of the term.
You own the asset at the end
Tax Benefits:
Capital allowances claimable. Interest is a deductible expense.
Best For:
Those who want to own the vehicle but need lower monthly outgoings during the term.
Contract Hire (Leasing)
You rent the vehicle for a fixed period with fixed monthly payments. Return the vehicle at the end - you never own it.
Asset returned at the end
Tax Benefits:
Monthly payments are 100% tax-deductible as a business expense if used solely for business.
Best For:
Tradesmen who want a new vehicle every 2-4 years and prefer not to deal with selling.
Vehicle Finance Explained
Van finance is a credit agreement that spreads the cost of a work vehicle over fixed monthly payments instead of one lump sum. For a plumber, electrician or builder the van is the business, so most trades buy one long before the full price is sitting in the account. We are a finance broker, not a lender: we arrange van finance across a panel of funders and put your application in front of the one most likely to say yes.
Below we explain the finance options open to a UK trade business, from hire purchase to personal contract purchase, lease purchase and contract hire, plus the questions we are asked daily about deposit, credit history, self-employed accounts and mileage limits.
What is van finance and how does it work?
Van finance is a form of asset finance in which a lender pays the dealer for the vehicle and you repay that amount, plus interest, over an agreed term. The van acts as security for the agreement, which is why van finance normally costs less than an unsecured business loan of the same size.
The mechanics are similar across the finance options. You put down a deposit, or none at all, the lender funds the balance, and you make monthly payments over a term that typically runs from 2 to 5 years. What changes is who owns the vehicle at the end, whether a larger final payment is due, and whether the agreement carries a mileage limit. Two lenders can price the same tradesman and the same van very differently, so we compare our panel rather than using one funder.
How does hire purchase work on a work van?
Hire purchase is a finance agreement that spreads the cost of a van over fixed monthly payments and passes ownership to you once the final instalment and the option to purchase fee are paid. Until then the lender holds title, though you use the van as your own.
It is the most common choice among the tradesmen we deal with. There is no mileage cap, no end of term condition inspection, and the van becomes an owned asset you can sell or part exchange at any point. Because you are paying off the whole purchase price, the monthly cost is higher than the equivalent lease. Lease purchase follows the same structure but defers part of the cost into a balloon payment at the end, which keeps the monthly figure down. You will need a plan for that balloon payment: settle it, refinance it, or sell the van to cover it.
What is personal contract purchase, and how does business contract purchase differ?
Personal contract purchase is a finance agreement that defers a large part of the vehicle value into an optional final payment, so your monthly payments cover expected depreciation rather than the full price. At the end you can pay that final payment and keep the van, hand it back, or move any equity into a new agreement. Every contract purchase of this type sets an annual mileage allowance and a fair wear and tear standard, so a tradesman covering 30,000 miles a year needs the mileage set realistically or the excess charges will bite.
Business contract purchase is the same structure written for a limited company or partnership, and a sole trader can usually take either. Consumer credit agreements are regulated by the Financial Conduct Authority, while an agreement taken wholly or predominantly for business purposes may sit outside that regime and lose protections such as the right of voluntary termination. We tell you which basis a quote is offered on before you sign.
Is it better to lease a van or buy it on finance?
Contract hire, usually just called leasing, is a rental agreement under which you pay for the use of a van over a fixed term and hand it back at the end. You never own the vehicle, and the monthly payment is normally the lowest of the finance options for the same van.
A lease suits a business wanting new vans every three or four years without the hassle of reselling. The trade offs are the mileage cap, the condition standard on return, and owning nothing after years of payments. Hire purchase suits the opposite case: high mileage, heavy racking and signwriting, and keeping a van until it stops earning. Tax treatment differs too, so speak to your accountant alongside the quote.
How much deposit do you need for van finance?
A deposit on van finance is the amount you pay upfront to reduce the sum borrowed, and on many agreements it can be nothing at all. No deposit van finance is available to tradesmen with a reasonable credit record and evidence of income, and it keeps working capital in the business rather than in the vehicle.
Where a deposit earns its keep is the pricing. Putting in 10 or 20 percent cuts the balance the lender is exposed to and can reach rates a zero deposit application would not, and on a thin credit file it often turns a decline into an approval. Buying from a VAT registered dealer also means VAT on top of the price, and many lenders expect it as part of the deposit. If that cash is not there, we can approach funders who finance the VAT within the agreement.
Can a self-employed tradesman get van finance?
Self-employed tradesmen can get van finance, and it is the majority of what we arrange. The application is assessed on your ability to make the monthly payments rather than on holding a payslip, so a sole trader with steady work is not at a disadvantage.
Lenders typically want recent bank statements, a tax calculation or accounts covering your trading history, proof of address and driving licence details. Six months of trading is enough for several funders, and a few will consider a newer business with a strong order book or a deposit. If your accounts show low profit after legitimate expense claims, say so early: bank statements and CIS deduction statements often tell the story better than a tax return.
Can you get van finance with bad credit?
Bad credit does not automatically rule out van finance. Credit history is one input among several, and our lenders take different views on defaults, missed payments and county court judgments. What matters most is how recent the problem is and how your accounts have looked since.
Three things move a marginal case: a deposit, a shorter term, and a sensibly priced van. A tradesman with a five year old default putting 15 percent down on a used Transit is a very different proposition to the same applicant asking for the maximum on a new vehicle. What does real damage is applying repeatedly, because every full application leaves a footprint and a run of declines makes the next lender cautious.
What changes when you finance a used van or an electric van?
Used van finance runs on the same products as new, with one extra condition: most lenders cap the age and mileage the vehicle will reach by the end of the agreement, commonly around ten years or 100,000 miles. That shapes the term, so a five year old van may be funded over three years rather than five. Rates on used stock usually sit slightly above new, and the lower purchase price still leaves the total cost lower.
Electric vans are financed by most of our panel, and a few funders price them separately. Watch the residual value: on any agreement with a balloon or optional final payment, the lender's view of what the electric van will be worth in four years drives your monthly figure. Charging, real world range on a loaded van and clean air zone access are worth weighing alongside the finance.
Ready to Get Started?
Get a free, no-obligation quote in minutes. Our team of trade finance specialists will find the best vehicle finance deal for your business.
No impact on your credit score for initial quote
Competitive rates from our panel of lenders
Dedicated trade finance specialist assigned to you
Support throughout the entire application process
Representative Example:
Borrow £25,000 over 48 months. Monthly payment: £590. Total repayable: £28,320.8.9% APR representative.
Vehicle Finance Quote
Finance vans, trucks & work vehicles
Frequently Asked Questions
Got questions about vehicle finance? We've got answers.
For most working tradesmen it is straightforward. Lenders want evidence of income, an acceptable credit record and a van that holds its value. It gets harder with very recent adverse credit, less than six months of trading, or a request for the full purchase price on an older vehicle with no deposit. As a broker we can see which funders fit your situation before an application goes in.
It usually is if the van earns money. Paying cash ties up capital that could cover materials, wages or a VAT bill, and a fixed monthly payment is easier to price into your day rate. Finance costs more in total because of the interest, so the question is whether that cash works harder in the business.
There is no single best product, only the one that matches how you work. Hire purchase suits high mileage tradesmen who want to own the van and keep it. Personal contract purchase and business contract purchase suit anyone wanting a lower monthly payment and newer vans every few years who can live with a mileage limit. Contract hire suits a business chasing the lowest monthly cost.
The 50 percent rule refers to voluntary termination under the Consumer Credit Act 1974. On a regulated hire purchase or personal contract purchase agreement you can end it once you have paid half of the total amount payable, then return the vehicle in reasonable condition with nothing further to pay apart from arrears or damage. A van on an unregulated business agreement does not carry that right.
Often yes. Where formal accounts do not exist, lenders look at business bank statements, CIS deduction statements, invoices and your order book. A deposit helps considerably here, as does a clean recent record on other credit.
Yes. Working under the Construction Industry Scheme is not a barrier. Your monthly CIS statements and remittance advices from contractors show the income a lender needs to see, and deductions made at source give a clear picture of turnover.
It depends on the age, size and type of the marking. A satisfied default from several years ago rarely stops an approval. A recent CCJ, live arrears or an active payment arrangement narrows the options and affects the rate offered. A deposit and a modestly priced van both improve the odds.
Some lenders on our panel fund private and auction purchases, though the checks are tighter. Expect an HPI check, proof the seller owns the vehicle, and payment made directly to the seller.
Yes. Every agreement allows early settlement and the lender will provide a figure. On a regulated agreement you are entitled to a rebate of part of the interest. If you are settling to upgrade, any equity in the van can usually be carried into the new deal.
If the agreement is in your own name as a sole trader it will normally appear on your personal credit file, with payments reported monthly in the same way as car finance. An agreement in a limited company name usually does not, though many lenders ask a director for a personal guarantee.