Finance from IN-SYNC Credit Services

Self-employed Van Finance: How it works

✓ Understand how our van finance works
✓ Find out if you can apply
✓ Learn about the tax advantages

services > self-employed van finance > How Vehicle Finance Works

Your questions about van finance answered

Buying a new van is a big decision, but it could really help you grow your business. It’s an important investment and our vehicle financing solution might just be perfect for you. You will own your van outright at the end of the term, giving you more freedom than you would have if you leased it.  

What type of van could you finance with us?

All of our vans are supplied by trusted partners and are available across the UK and we can help you find something that will suit you.

Through our range of carefully selected partners, we're able to give you access to top-quality used vans and commercial vehicles for sale from a huge collection of well-known van manufacturers in the UK.

Some of the brands available are:

  • Mercedes-Benz
  • Ford
  • Volkswagen
  • Peugeot
  • Fiat
  • Mitsubishi

How does van finance work?

We provide you with finance of between £8k and £30k with a deposit from just £500 based on your personal circumstances. Using our unique underwriting process, designed specifically for self-employed people, we will let you know how much you can borrow, what the interest rate will be and what your payments would be. These rates range from between 12.9% - 29.9%.  

If you are accepted for a loan, we will send you an agreement to sign. Your payments will start and until you finish paying the loan, we will be the legal owner of the vehicle. As soon as you make your final payment at the end of the term, you will then own your van fully. 

The process of agreeing your monthly repayment amount is simple and we will do this before you enter any sort of legally binding agreement. It’s important that you only borrow what you can afford. 

Remember, you’ll need to insure your van. The policy must be fully comprehensive and you must not have an excess of any more than £500.  

Who can get van finance with us?

We launched our vehicle finance service specifically for self-employed people who may struggle to get credit elsewhere. It is fair to say that getting finance can be more difficult for the self-employed, so we try to make it as simple as possible. 

The way we underwrite our vehicle financing service is completely unique, so you may be able to borrow more than you thought.

At IN-SYNC, we understand that getting a new van can help you grow your business quickly, so if you’re self-employed, we can help.

How can you apply for vehicle finance with us?

The application process is simple. You can apply directly from our website using our straightforward application portal.

We understand that applying for credit can be daunting and will only carry out a ‘soft credit search’ to begin with, which won’t show on your credit history and will have no impact on your credit score.

Once the search has been carried out, you’ll receive a representative quote, giving you all the information you’ll need.

It’s important to us that you don’t overstretch yourself and can afford your monthly payments. We will work with you to understand what you can afford. Some of the things we will look at include your income, your expenses and your financial commitments.

What are the tax advantages of buying a van?

Did you know that if you buy a van, you will be able to claim the cost back as a capital allowance on your income tax bill at the end of the year as part of the Annual Investment Allowance (AIA).

The Annual Investment Allowance (AIA) was introduced to encourage businesses to invest in assets by giving them tax relief when they do so. It is available for the majority of assets that you might buy, including things like tools, lorries, diggers, office equipment, building fixtures, computers and, most importantly, vans.

As a sole trader, you can also claim back the costs of running the van against your profits. However, if you also use the van for personal purposes, you will only be able to claim against the business use.

We're proud of the way we treat our customers and what they say about us on Feefo. We're proud of our reviews too! To top it off, we are authorised and regulated by the Financial Conduct Authority, so you're in safe hands. 

Interested in a new van?

All finance is subject to status and income. Due to insurance requirements, applicants who are self-employed drivers/couriers must be 21 years or over, those working in other trades must be 18 years or over, T&Cs apply. Guarantees and indemnities may be required. IN-SYNC Credit Services Ltd is a direct lender and not a broker.

Representative Example:3 year Conditional Sale Agreement (With Balloon) – based upon a Renault TRAFIC. Borrowing £18,542.60 over 3 years with a representative APR of 34.1%, an annual interest rate of 16.9% (fixed) and a deposit of £0.00, the amount payable would be £98.37 per week*, with a total cost of credit of £9,413.85 (including a £75 admin fee and GAP insurance) and a total amount payable of £27,956.45 *This includes VAT recovery of £8,821.11 towards the total amount payable. This includes a balloon payment of £3,888.00 added to the final instalment. This excludes additional maintenance plan from Autoserve Ltd of £19.18 per week.