Van Finance Solutions for Self-Employed Workers
Securing van finance when you’re self-employed can feel like a challenge. Many lenders prioritise applicants with steady, traditional income streams, leaving self-employed workers feeling overlooked. But don’t worry—we’re here to make the process straightforward and stress-free.
Why Van Finance Can Be Challenging for the Self-Employed
Lenders often see self-employment as higher risk. Without regular payslips or lengthy trading histories, it can be harder to meet their criteria. Some might even decline applications purely based on the nature of self-employment.
However, there are lenders who understand the self-employed market. They take a more flexible approach, looking beyond just your income and credit score. We specialise in working with these lenders to help you secure the van finance you need.
What Do Lenders Look For?
While requirements vary, most lenders focus on a few key factors:
- Personal Credit History: A good track record of managing personal finances helps.
- Income Proof: Bank statements or tax returns showing consistent earnings.
- Purpose of the Van: Lenders prefer to see that the van is essential for your business.
Even if you don’t meet all the criteria perfectly, there are still options. That’s where we come in.
How We Make It Easy for You
At First Oak Capital, we simplify the process by:
- Finding the Right Lender: We work with a network of banks and specialist finance providers, including those who are happy to help self-employed clients.
- Handling the Paperwork: We take care of applications, making sure they’re accurate and complete to boost your chances of approval.
- Securing Competitive Rates: By comparing lenders, we aim to get you a deal with affordable monthly payments.
- Supporting New Businesses: Even if your business is brand new, we can find lenders willing to offer finance.
How Van Finance Benefits Self-Employed Professionals
A reliable van is often the backbone of a self-employed business. Whether you’re delivering goods, transporting tools, or meeting clients, having the right vehicle can make all the difference. Here’s how van finance can help:
1. Preserve Your Cash Flow
Buying a van outright can put a strain on your finances. With van finance, you can spread the cost over manageable monthly payments, keeping more cash available for other business needs.
2. Upgrade to the Right Vehicle
Finance allows you to access a van that suits your business needs, whether it’s a newer model with better fuel efficiency or a used van with plenty of life left. This flexibility means you don’t have to settle for less.
3. Improve Business Efficiency
The right van can save you time and money. With more space, reliability, and efficiency, you’ll be able to take on more jobs, meet deadlines, and keep customers happy.
4. Build Business Credibility
A clean, reliable van helps create a professional image for your business. Whether you’re meeting clients or showcasing your brand with signage, it’s an investment in your reputation.
5. Tax Advantages
Did you know you may be able to claim back some or all of the VAT on a van for business use? Additionally, monthly finance payments could be deductible as a business expense. Speak to your accountant to see how van finance could benefit your tax situation.
With van finance, you don’t just get a vehicle—you gain the tools to grow your business. Let us help you find the right solution to keep you moving forward.
What Are Your Options?
When financing a van as a self-employed professional, you have several options:
- Hire Purchase (HP): Spread the cost of a van over monthly payments and own it at the end of the term.
- Lease or Contract Hire: Pay to use the van without owning it, often with lower monthly payments.
- Used Van Financing: Save money by financing a used vehicle, typically up to 10 years old.
We’ll help you explore these options and choose what’s best for your business.
Why Work With Us?
With over 6 decades of experience between us, we know what lenders want and how to present your application in the best possible light. Self-employed clients are at the heart of what we do, and we take pride in helping you secure finance that works for your business.
Our personalised and friendly approach saves you time, reduces stress, and gives you access to lenders you might not find on your own.
Get Started Today
Need a van to grow your self-employed business? We’re ready to help. Call us or complete our short application form to find out what options are available.
Take the hassle out of van finance and get back to focusing on what you do best—running your business.