Van leasing , poor credit ?

Mr_Poves

Hi , can anyone recommend somewhere that offers van leasing or finance and caters for poor credit ?
I'm a sole trader est oct 2013 .
Thanks In advance

paddyrg

You're probably better off buying a banger until you can show a positive trading history which will make you more creditworthy. Alternatively try Zopa who used to allow specific loan appeals or funding circle. Both of these are peer lending sites and offer better rates than the banks because some people want to lend money without assessing risk very well, desperate to beat the 1% bank savings rates.

But seriously, if you can buy a banger for now just so you can trade without committing to more debt at a substantial interest rate, you'll thank yourself in 3 years when you can save enough to buy a new van!

motorguy

paddyrg wrote: »

You're probably better off buying a banger until you can show a positive trading history which will make you more creditworthy. Alternatively try Zopa who used to allow specific loan appeals or funding circle. Both of these are peer lending sites and offer better rates than the banks because some people want to lend money without assessing risk very well, desperate to beat the 1% bank savings rates.

But seriously, if you can buy a banger for now just so you can trade without committing to more debt at a substantial interest rate, you'll thank yourself in 3 years when you can save enough to buy a new van!

+1

Business is a matter of months old and lumbering it with a lease? :eek:

No shortage of transits if you need something that size, for around £1000 OR a smaller berlingo sized van for £500+

Both these vans of mine were very servicable and presentable - both cost me around £600 each.

Mr_Poves

Thanks for that , I do appreciate what you say , I have got a "shed" at the minute , but need something reliable , it's very tired and served me well , I don't mean a brand new mercedes sprinter , just something like a nemo etc , seem's to be a lot around for the £120 pm rate , Just wanting some advice regarding where is best to source one , I just want to give off the right image , and not be spending more in repairs than a lease would be .
I'm not trying to run before I can walk , I'm in control of my finances at the minute and feel it would be a big benefit to the business .

paddyrg

In which case try those peer lenders maybe, or someone like lings motors to see if they can arrange finance. But if you have poor credit history, your options are going to be limited and rates available will be significantly higher than the headline rates. The savings may not be as big as you'd hope!