| Credit Profile | New Van HP | Used Van HP | Term |
|---|---|---|---|
| Strong credit, 2+ years trading | 7.9% – 9.9% APR | 9.9% – 12.9% APR | 24–84 months |
| Standard SME, 1–2 years | 9.9% – 12.9% APR | 12.9% – 16.9% APR | 24–60 months |
| New business / thin file | 12.9% – 17.9% APR | 14.9% – 19.9% APR | 24–48 months |
| Adverse credit | 15.9% – 22.9% APR | 17.9% – 24.9% APR | 24–36 months |
What affects your van HP rate?
Your credit profile is the single biggest factor. An established limited company with 2+ years of clean credit and a healthy balance sheet will access the lowest rates. Sole traders and self-employed buyers typically pay slightly more because income evidence is less standardised.
The age of the van matters too - newer vans have better residual values, which makes lenders more comfortable. Used vans, particularly those over 5 years old, attract a risk premium because the asset is closer to the end of its useful life.
The deposit you put down affects the loan-to-value (LTV) ratio. A lower LTV reduces the lender's risk and can improve the rate offered. The term length also plays a role - longer terms spread the cost but typically attract a slightly higher rate. Finally, the lender matters: as a whole-of-market broker, we can compare multiple lenders' rate cards for your specific profile.
Finance subject to status and credit assessment. Rates shown are indicative only and subject to change. Independent financial advice should be sought where appropriate.