By putting down a deposit, you could afford a van that would otherwise be too expensive. This upfront payment can reduce the amount you need to borrow, allowing you to afford a bigger van or one with more modern features.
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You might be wondering if you can get no deposit van finance. Our guide explains why our van finance requires a deposit, and how it affects your agreement.
You might be wondering if you can get no deposit van finance. Our guide explains why our van finance requires a deposit, and how it affects your agreement.
No deposit van finance is an option where you don’t need to make an upfront payment at the start of your finance agreement. Usually, when you start a finance agreement, you pay a deposit. This could be to secure the van or as part of the lender’s requirements for financing your new van.
We understand that saving for a deposit can be tricky, which is why you might be searching for van finance with no deposit. We ensure that our van finance options are affordable, sustainable, and suitable for your needs.
As part of this, we require a deposit at the beginning of your van finance agreement. As one of the UK’s leading specialist lenders, we can help you when other lenders cannot. However, we do not offer van finance without a deposit.
There are various reasons why you may need to put down a deposit when financing a van:
If you choose to get a quote and are approved, our friendly experts would be happy to discuss your options and find what’s best for you.
No, guaranteed van finance doesn’t exist, including with no deposit. While some lenders may advertise guaranteed van finance without a deposit, they can’t guarantee finance without first making affordability checks to ensure it’s appropriate for you.
Every person has different circumstances that affect their eligibility for van finance, making it impossible for any lender to claim that van finance is guaranteed. A responsible lender will always ensure that any finance they offer is affordable, which is why no one can make such a claim.
There are several factors that a lender considers before offering you finance, but there are some things you could do that might increase your chances of getting finance. These steps include:
No deposit van finance is an option where you don’t need to make an upfront payment at the start of your finance agreement. Usually, when you start a finance agreement, you pay a deposit. This could be to secure the van or as part of the lender’s requirements for financing your new van.
We understand that saving for a deposit can be tricky, which is why you might be searching for van finance with no deposit. We ensure that our van finance options are affordable, sustainable, and suitable for your needs.
As part of this, we require a deposit at the beginning of your van finance agreement. As one of the UK’s leading specialist lenders, we can help you when other lenders cannot. However, we do not offer van finance without a deposit.
There are various reasons why you may need to put down a deposit when financing a van:
If you choose to get a quote and are approved, our friendly experts would be happy to discuss your options and find what’s best for you.
No, guaranteed van finance doesn’t exist, including with no deposit. While some lenders may advertise guaranteed van finance without a deposit, they can’t guarantee finance without first making affordability checks to ensure it’s appropriate for you.
Every person has different circumstances that affect their eligibility for van finance, making it impossible for any lender to claim that van finance is guaranteed. A responsible lender will always ensure that any finance they offer is affordable, which is why no one can make such a claim.
There are several factors that a lender considers before offering you finance, but there are some things you could do that might increase your chances of getting finance. These steps include:
By putting down a deposit, you could afford a van that would otherwise be too expensive. This upfront payment can reduce the amount you need to borrow, allowing you to afford a bigger van or one with more modern features.
You could consider using your current van as a deposit by doing a part exchange or saving up money to make a deposit. However, saving up a large amount of money might be difficult, especially if you’re self-employed looking for van finance.
Making a deposit can save you money in the long run compared to not putting down a deposit. This is because if you don’t deposit an amount at the start, you will have to borrow more money, which can result in paying more interest as your repayment period would be longer.
No deposit van finance can make buying a new van more affordable. If your current van is no longer meeting your personal or business needs, choosing a lender that doesn’t require a deposit means that you won’t have to wait until you have the money saved up for a deposit.
By putting down a deposit, you could afford a van that would otherwise be too expensive. This upfront payment can reduce the amount you need to borrow, allowing you to afford a bigger van or one with more modern features.
Making a deposit can save you money in the long run compared to not putting down a deposit. This is because if you don’t deposit an amount at the start, you will have to borrow more money, which can result in paying more interest as your repayment period would be longer.
You could consider using your current van as a deposit by doing a part exchange or saving up money to make a deposit. However, saving up a large amount of money might be difficult, especially if you’re self-employed looking for van finance.
No deposit van finance can make buying a new van more affordable. If your current van is no longer meeting your personal or business needs, choosing a lender that doesn’t require a deposit means that you won’t have to wait until you have the money saved up for a deposit.
We offer a Conditional Sale (CS) agreement. This means that you will be the registered keeper of the van and responsible for its maintenance. To start our CS finance, you’ll need to make a deposit by using the money you’ve saved up. You could also part exchange your current van.
Please note that our van finance agreements require a deposit. If your application is approved, an expert from our team can discuss various options and find the right agreement for you.
After the deposit, you’ll make monthly payments for an agreed period between 36 and 60 months. Once you have made your final payment, your agreement will end, and you will become the legal owner of the van.
If you’re interested, you can get a quote in less than 5 minutes and receive an instant decision.
We offer a Conditional Sale (CS) agreement. This means that you will be the registered keeper of the van and responsible for its maintenance. To start our CS finance, you’ll need to make a deposit by using the money you’ve saved up. You could also part exchange your current van.
Please note that our van finance agreements require a deposit. If your application is approved, an expert from our team can discuss various options and find the right agreement for you.
After the deposit, you’ll make monthly payments for an agreed period between 36 and 60 months. Once you have made your final payment, your agreement will end, and you will become the legal owner of the van.
If you’re interested, you can get a quote in less than 5 minutes and receive an instant decision.
To get van finance, you’ll need:
*Find our lending criteria for self-employed people.
We can finance vans that meet our lending criteria:
To get van finance, you’ll need:
*Find our lending criteria for self-employed people.
We can finance vans that meet our lending criteria:
The main difference between van finance and leasing is that with leasing, you will never legally own the van. On the other hand, if you choose to get van finance with us, you will become the legal owner once you make your final payment.
Leasing is similar to renting as you can only use the van for a set period of time, and at the end of the lease agreement you must return it to the finance company. With our van finance, you will have complete access to the van and will keep it once you make your final payment. Additionally, you won’t have to pay an extra fee or balloon payment like other finance types such as PCP or HP.
Lenders often require a deposit for several reasons. This could be to help you secure the van you want or reduce the overall amount you need to borrow. By doing this, you may be able to finance a van that was otherwise outside of your affordability.
Having good credit may increase your chances of getting approved for van finance. However, if you have bad credit, you can still get approved, but you might have to use a specialist lender or provide a higher deposit.
It’s important to know that our van finance agreements require a deposit. This helps ensure your monthly payments are affordable and sustainable for you.
To see if we could help you, get a quote today. We use a soft search at the point of application which doesn’t affect your credit score and will tell you if we can help. We only use a hard search when preparing contracts for you to sign.
It is possible to claim van finance on your tax return regardless of whether you made a deposit or not. However, the process of claiming it as tax relief depends on various factors, such as the type of accounting method you use.
If you need more information, we have a guide that answers common questions about claiming van finance on your tax return. You can also refer to the GOV.UK guide on van expenses to learn what expenses you may be able to claim.
If you need further information, you should seek a qualified tax professional or contact HMRC.
The main difference between van finance and leasing is that with leasing, you will never legally own the van. On the other hand, if you choose to get van finance with us, you will become the legal owner once you make your final payment.
Leasing is similar to renting as you can only use the van for a set period of time, and at the end of the lease agreement you must return it to the finance company. With our van finance, you will have complete access to the van and will keep it once you make your final payment. Additionally, you won’t have to pay an extra fee or balloon payment like other finance types such as PCP or HP.
Lenders often require a deposit for several reasons. This could be to help you secure the van you want or reduce the overall amount you need to borrow. By doing this, you may be able to finance a van that was otherwise outside of your affordability.
Having good credit may increase your chances of getting approved for van finance. However, if you have bad credit, you can still get approved, but you might have to use a specialist lender or provide a higher deposit.
It’s important to know that our van finance agreements require a deposit. This helps ensure your monthly payments are affordable and sustainable for you.
To see if we could help you, get a quote today. We use a soft search at the point of application which doesn’t affect your credit score and will tell you if we can help. We only use a hard search when preparing contracts for you to sign.
It is possible to claim van finance on your tax return regardless of whether you made a deposit or not. However, the process of claiming it as tax relief depends on various factors, such as the type of accounting method you use.
If you need more information, we have a guide that answers common questions about claiming van finance on your tax return. You can also refer to the GOV.UK guide on van expenses to learn what expenses you may be able to claim.
If you need further information, you should seek a qualified tax professional or contact HMRC.
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Moneybarn is a member of the Finance and Leasing Association, the official trade organisation of the motor finance industry. The FLA promotes best practice in the motor finance industry for lending and leasing to consumers and businesses.
Moneybarn is the trading style of Moneybarn No. 1 Limited, a company registered in England and Wales with company number 04496573, and Moneybarn Limited, a company registered in England and Wales with company number 02766324. The registered address for these companies is: Athena House, Bedford Road, Petersfield, Hampshire, GU32 3LJ.
Moneybarn’s VAT registration number is 180 5559 52.
Moneybarn Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702781)
Moneybarn No. 1 Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702780)
Representative example: Total amount of credit £8877. Repayable over 56 months, 55 monthly payments of £283.33. Representative 30.7% APR (fixed). Deposit of £778.76. Total charge for credit £6706.15. Total amount payable £16,361.91. Subject to status and affordability. You could risk losing your vehicle if you do not keep up payments.