Having poor credit can sometimes seem like a major obstacle when it comes to purchasing a vehicle, and the same applies when the motor of choice is a van. As with anything on four wheels, you may believe that having a bad credit score can prove problematic if you wish to buy a van on finance. But this is not the case, as we will now delve into.
We recently covered the subject of identifying why you may have negative credit, and how it may not necessarily be your fault, so we won’t go into detail on this again. We will say, though, that by determining the reason for poor credit, this can open the door to more options with vans, so try to find out if there is any extenuating circumstances causing bad credit before looking to push ahead a purchase.
At this point, it is important to manage your expectations. Because you are in poor credit, the number of options for a van will be reduced, simply because the finance company will want to know that you can keep up with payments. Bear in mind that the cost of buying a van is really not much more than that of a car, though the day-to-day running of the motor (e.g. maintenance costs) will be higher, thus potentially making it a little harder to manage the monthly payments should you already be in negative credit. Therefore, it’s wise to remember that your options may be more limited; if you provide evidence that bad credit isn’t due to something that you have done yourself, perhaps the number of possibilities will then increase.
It’s also worth considering what vehicles you have owned in the past. If you are accustomed to driving a van already (more so if you require a van specifically for the line of work that you do), then you will already know the day-to-day costs involved, and you will be in a more knowledgeable position when it comes to pulling off a purchase. If you have never owned a van before, though, and especially if this is your first vehicular buy, then you may wish to think very carefully. If you’ve never owned a van, and you’re already in poor credit, ask yourself whether now is the time to make such a purchase, or if you may be better to give it more time, and perhaps buy a “normal” car to get you buy, until you are at a point where your finances are in order and your very first van purchase will become more feasible and easier to manage. To see vehicle in stock at Accept Car Finance click here.
As part of our services we deliver the car to your premises of choice within the UK. Lately we have delivered cars in most major towns including the Southern cities & midlands: (London, Birmingham, Leicester), Northern cities (Manchester, Liverpool, Sheffield, Leeds, Newcastle), and Scottish cities (Edinburgh, Glasgow).