Self Employed Car Finance
Zap Loans are a credit broker not a lender. Representative example: borrowing £10,000 over 5 years with a representative APR of 19.1%, an annual interest rate of 19.1% (Fixed) and a deposit of £0.00, the amount payable would be £255.50 per month, with a total cost of credit of £5,329.80 and a total amount payable of £15,329.80
Terms and Conditions:
This example is for a Hire Purchase Agreement.
I confirm that I have read and understand the following, and that in doing so provide permission for ZAP Loans to undertake a credit search and provide my information to their panel of lenders. I understand that this may register as a credit search against my name.
- I have read the Initial disclosure document (IDD) available online
- I consent to a credit search being conducted
- I understand the following
- The credit search relates to a hire purchase product which does not have any mileage restrictions; however, a balloon product is also available – please call to discuss
- Subject to balance financed, the agreement would be protected by the Consumer Credit Act (CCA)
- I tend to be the registered keeper of the vehicle and would hold fully comprehensive motor insurance during the length of the agreement
- I understand that the vehicle is at risk of repossession if the contractual repayments are not maintained
By proceeding to obtain a quote, you confirm that you have independently chosen the appropriate term of agreement , are comfortable with the suggested repayments and agree to the above statements. Copies of the relevant documentation, to include the IDD, Product Explanations and Overview have been provided to your email address in a durable medium
To view our IDD (Initial Disclosure Document) – please visit https://zaploans.co.uk/initial-disclosure-document-idd/
The Benefits of Self Employed Car Finance
Manage Your Cash Flow: Buying a car outright can be a significant financial burden. Spread the cost with flexible self-employed car finance options and keep your cash flow healthy.
Competitive Interest Rates: Many lenders offer competitive interest rates for self-employed car finance, making it easier to find a deal that suits your budget.
Access to Quality Vehicles: Whether you need a reliable van for your business or a stylish car for personal use, our finance options help you access a range of high-quality vehicles.
Flexible Financing Options: Choose from a variety of financing options, including Hire Purchase (HP) and Personal Contract Purchase (PCP), to find the best fit for your financial situation.
Tax Benefits: You may be able to claim some of your car finance costs as business expenses, potentially reducing your tax liability. Consult your accountant for specific details.
Bad Credit Considered: Even if your credit history isn’t perfect, you may still be eligible for self-employed car finance. We work with lenders who consider all credit histories.
Simple Application Process: Our straightforward application process means you can get a decision quickly and start exploring your car finance options.
Types of Car Finance for the Self Employed
With HP, you pay an initial deposit followed by fixed monthly payments. Once you’ve made all the payments, the car is yours to keep. This is a great option if you want to own the car outright at the end of the term.
PCP allows you to make lower monthly payments over the term of the agreement. At the end of the term, you can choose to make a final payment to own the car, return it, or trade it in for a new one. This option offers flexibility and can be ideal for those who like to switch cars regularly.
A personal loan from a bank or other lender allows you to borrow a lump sum to buy a car outright. You then repay the loan in fixed monthly instalments. This option can be useful if you prefer to manage the car purchase separately from your car finance.
Self Employed Car Finance – FAQs
What documents do I need for self-employed car finance?
When applying for self-employed car finance, you will typically need to provide proof of income, such as bank statements or tax returns, as well as identification and proof of address. The specific documents required may vary depending on the lender.
