Van Personal Loan

A van personal loan can be an alternative way to fund your next van purchase. Rather than the finance being secured against the van itself, a personal loan allows you to borrow a fixed amount and repay it over an agreed term.



We can introduce customers to trusted lenders who may be able to help.

Understanding Personal Loans

A van personal loan is an unsecured loan that can be used to purchase a van.

 

Unlike some vehicle finance products, the loan is not secured against the van itself, meaning you own the van outright from day one.


Loans typically range from 1 to 7 years, depending on the lender, the amount borrowed and your individual circumstances. The interest rate offered will vary based on factors including:

  • Your credit profile
  • Income and affordability
  • Loan amount
  • Loan term
  • The lender's own citeria

Who May Be Eligible?

  • Are aged 21 or over.
  • Have been a UK resident for at least three years.
  • Hold a UK bank or building society account.
  • Have a regular, provable income.
  • Meet the lender's affordability requirements.
  • Have a satisfactory credit history.


Acceptance is subject to status and individual lender criteria.

Benefits Of A Personal Loan

  • Own the Vehicle From Day One: The vehicle belongs to you from the outset.
  • Fixed Monthly Payments: Monthly repayments remain the same throughout the agreement term. 
  • No Mileage Restrictions: Drive as much or as little as you wish without excess mileage charges.
  • Flexibility: Many lenders allow overpayments or early settlement, although terms and conditions will vary.
  • Private Purchases: A personal loan may be used when buying a vehicle from a private seller, subject to lender criteria.

Things to Consider

  • Creditworthiness Matters: Approval and interest rates will depend on your credit profile and affordability.
  • Monthly Payments May Be Higher: Depending on the loan amount and term, monthly repayments may be higher than some other finance products.
  • Loan Terms Vary: Not every lender offers the same rates, terms or borrowing limits.

Finding The Right Option

Every customer is different, which is why comparing options can be important. Motor Loans R Us can introduce you to lenders who may be able to help find a suitable vehicle loan based on your circumstances.