Getting finance when you're self-employed

We know a van can be an essential to everyday life, especially when you’re self-employed. But vans are not cheap, particularly for one that does your business justice and that you’re proud to drive. In this scenario, getting a used van on finance may seem like a good option, but how does that work when you’re self-employed? Here are our tips and industry insight, so you’re more likely to get approved.

Income

Having proof of your income is one way to speed up the finance approval process. This shows the lender that you can keep up with the repayments and that you are not a high-risk case. This can be anything from invoices to payslips, so long as they have a recent date on them from inside the last six months or so.

Contracts

Keeping a record and being willing to share your contracts from employers is another way to instil trust with your lender. This gives evidence to your work history and adds to the proof that you will be capable of repaying the finance agreement each month.

Employment history

Continuous employment is another tick in the box if you’re looking for finance on a used van. Even though you’re self-employed, you may have a track record of working for the same employer or company which will only add to your credibility. Our last tip for you is to enrol on the electoral register, if you’re not on there already, as this helps the lender build your profile.

Remember, van finance is not the best option for everyone. These are only our tips on how to obtain van finance and do not guarantee your approval for finance. If you’re looking for a pre-owned van on finance in Cumbria, you can browse our stock online or get in touch with one of our specialists who will be happy to help. We also serve across the UK, so get in touch to find out more.