Leasing a Van with Bad Credit in the UK: Your Comprehensive Guide
Silverstone Leasing

The Comprehensive Guide to Leasing a Van with Bad Credit

The concept of leasing a vehicle, especially a van, has become increasingly popular in the UK. Yet, for many, the looming question remains – can you lease a van with bad credit? Here, we elucidate the intricacies of van leasing and delve into how one's credit score might impact the decision.

white van

The Essentials of Van Leasing

Leasing a van involves entering into an agreement with a leasing company where you make regular payments to use the van for an agreed-upon duration. At the end of the lease term, you have the option to return the vehicle, extend the lease or, in some cases, purchase the van.

Key Benefits:

  • Flexibility: Options to extend, return, or purchase at the end of the lease.
  • Up-to-date Models: Regularly updating your van to newer models is feasible.
  • Maintenance: Many lease contracts include servicing and maintenance.

Bad Credit and Its Impact

Credit scores provide a snapshot of your financial history and creditworthiness. A lower score might indicate previous financial difficulties, but does it preclude you from leasing a van?

Does Bad Credit Prevent Van Leasing?

Not necessarily. Whilst a pristine credit score can make the process smoother, several leasing companies cater specifically to those with less-than-perfect credit. The key is to approach the situation with knowledge and preparedness.

Tips for Leasing with Bad Credit

1. Know Your Score

  • Obtain a credit report. Several online platforms offer free yearly reports.
  • Check for discrepancies and report any inaccuracies.

2. Shop Around

  • Not all leasing companies have the same criteria. Some specialise in bad credit leases.
  • Compare different deals and terms.

3. Be Honest and Open

  • Discuss your credit situation openly. It can save time and potential disappointments.

4. Consider a Guarantor

  • Some companies may offer a lease if you can provide a guarantor.
  • This is someone who agrees to cover the lease payments if you're unable to.

5. Make a Larger Initial Payment

  • Offering a larger upfront payment can instil confidence in the leasing company.

Leasing a van with bad credit is achievable with the right approach and resources. By understanding your credit situation, comparing leasing companies, and potentially offering a more significant upfront payment or securing a guarantor, you can navigate the leasing landscape with confidence and secure the best deal for your circumstances.

FAQs

Can I lease a vehicle on a poor credit score?

    Yes, you can lease a vehicle on a poor credit score. While a higher credit score may offer more favourable terms, many leasing companies in the UK cater specifically to individuals with less-than-ideal credit histories. It's essential to research and find companies that specialise in bad credit leases and be prepared for potentially higher interest rates or terms.

What credit score do I need for van finance?

    There isn't a fixed "credit score" required for van finance, as acceptance criteria can vary among lenders. Generally, a higher score increases the chances of approval and might fetch better terms. However, several financing companies cater to a range of scores, including those with poor credit. It's recommended to check the specific requirements of your chosen finance provider or consult with multiple lenders to understand their criteria.

Can I lease a van without a deposit?

    Yes, it's possible to lease a van without an initial deposit, known as "zero deposit" leasing. While these deals can be attractive due to the lack of upfront costs, monthly payments might be slightly higher as a result. It's crucial to compare the total cost over the lease term to understand if a zero deposit lease is cost-effective for your situation.

Is leasing a work van a good idea?

    Leasing a work van can be a good idea for several reasons:

    • Cost Efficiency: Monthly lease payments are typically lower than financing payments, which can be beneficial for cash flow.
    • Access to New Models: Leasing allows you to drive newer van models every few years, ensuring you have access to the latest features and technologies.
    • Maintenance Benefits: Many lease contracts include maintenance and servicing, which can save on potential repair costs.
    • Flexibility: At the end of the lease, you can choose to return, purchase, or swap the van for a new model. However, one should consider factors like the annual mileage limit, potential wear and tear charges, and the overall cost over the lease term before deciding.

Van Leasing Offers

In stock Top deal

VAUXHALL VIVARO L1 DIESEL

2900 1.5d 100PS Prime H1 Van

£417.91 Per Month (inc VAT)

£3,761.19Initial Rental

  • 48 months
  • 5,000.00 miles pa

£417.91 Per Month (excl VAT)

£3,761.19 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
Top deal

PEUGEOT PARTNER LONG DIESEL

950 1.5 BlueHDi 100 Professional Premium + Van

£354.87 Per Month (inc VAT)

£3,193.83Initial Rental

  • 48 months
  • 5,000.00 miles pa

£354.87 Per Month (excl VAT)

£3,193.83 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
Top deal

MAXUS E DELIVER 9 LWB ELECTRIC FWD

150kW High Roof Van 72kWh Auto

£1,318.47 Per Month (inc VAT)

£11,866.23Initial Rental

  • 48 months
  • 5,000.00 miles pa

£1,318.47 Per Month (excl VAT)

£11,866.23 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
Top deal

CITROEN BERLINGO M DIESEL

1.5 BlueHDi 1000Kg Enterprise Ed 100ps 6 Speed S/S

£254.68 Per Month (inc VAT)

£2,292.12Initial Rental

  • 48 months
  • 5,000.00 miles pa

£254.68 Per Month (excl VAT)

£2,292.12 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
In stock Top deal

CITROEN DISPATCH XL DIESEL

1400 2.0 BlueHDi 145 Van Enterprise Edition

£383.12 Per Month (inc VAT)

£3,448.08Initial Rental

  • 24 months
  • 5,000.00 miles pa

£383.12 Per Month (excl VAT)

£3,448.08 + VATInitial Rental

  • 24 months
  • 5,000.00 miles pa
  • 24 month term
  • 5000 miles per annum
Top deal

Volkswagen ID. BUZZ CARGO

150kW Commerce 77kWh Auto

£595.18 Per Month (inc VAT)

£5,356.62Initial Rental

  • 48 months
  • 5,000.00 miles pa

£595.18 Per Month (excl VAT)

£5,356.62 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
In stock Top deal

PEUGEOT e-PARTNER STANDARD

800 100kW 50kWh Asphalt Premium + Van Auto

£420.13 Per Month (inc VAT)

£3,781.17Initial Rental

  • 36 months
  • 5,000.00 miles pa

£420.13 Per Month (excl VAT)

£3,781.17 + VATInitial Rental

  • 36 months
  • 5,000.00 miles pa
  • 36 month term
  • 5000 miles per annum
In stock Top deal

PEUGEOT PARTNER STANDARD DIESEL

1000 1.5 BlueHDi 100 Professional Premium + Van

£341.46 Per Month (inc VAT)

£3,073.14Initial Rental

  • 48 months
  • 5,000.00 miles pa

£341.46 Per Month (excl VAT)

£3,073.14 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
In stock Top deal

VAUXHALL MOVANO 3500 HEAVY L3 DIESEL FWD

2.2 Turbo D 140ps H2 Van Prime

£516.11 Per Month (inc VAT)

£4,644.99Initial Rental

  • 48 months
  • 5,000.00 miles pa

£516.11 Per Month (excl VAT)

£4,644.99 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
In stock Top deal

VAUXHALL MOVANO 3500 L3 DIESEL FWD

2.2 Turbo D 140 H2 Van Prime

£515.24 Per Month (inc VAT)

£4,637.16Initial Rental

  • 48 months
  • 5,000.00 miles pa

£515.24 Per Month (excl VAT)

£4,637.16 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
Top deal

PEUGEOT EXPERT STANDARD DIESEL

1000 1.5 BlueHDi 100 Professional Premium + Van

£319.79 Per Month (inc VAT)

£2,878.11Initial Rental

  • 48 months
  • 5,000.00 miles pa

£319.79 Per Month (excl VAT)

£2,878.11 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
In stock Top deal Metallic Paint Included

CITROEN BERLINGO M DIESEL

1.5 BlueHDi 1000Kg Driver Ed 100ps 6 Speed [S/S]

£260.85 Per Month (inc VAT)

£2,347.65Initial Rental

  • 48 months
  • 5,000.00 miles pa

£260.85 Per Month (excl VAT)

£2,347.65 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum