Frequently Asked Questions for our Credit Services

Get the answers you need to your most burning credit and finance questions.

Frequently asked questions

Need some help? Take a look at some of the questions we get asked the most.

  • What’s included for my AA cover – will it cover breakdown recovery or just a call out to fix it?

    Roadside assistant cover is not provided, however vehicle recovery will be provided. For those who have cover already this can be added when required at a charge of £50.

  • Is there a limited mileage on the van?

    No, the warranty given by Van Monster is unlimited as part of the service package.

  • How do I choose my van?

    Once your application has been approved you will receive an email from our Underwriting department which will state how much you have been approved for and will include an information pack on your next steps to purchasing your van, along with contact details for your representative at your local Van Monster branch. When you are ready to choose your van simply pop down to your local Van Monster depot and they will be able to assist you in choosing the right van for you. You can view Van Monster’s current list of vans here:

  • Will there be checks on a van I might want to purchase to ensure there isn’t any outstanding HPI?

    Yes, this will be completed by Van Monster. If you purchase the Van via IN-SYNC Credit Services then we will register our finance interest in the vehicle via HPI.

  • Will I own the van?

    You will not own the vehicle until you have paid off your last installment with IN-SYNC Credit Services. Once you have settled your agreement IN-SYNC Credit Services will arrange for the ownership to be transferred over to you.

  • How long will it take for me to be able to drive away in the van?

    If the vehicle is ready to go and you have signed and sent back your loan agreement documents we will normally transfer the funds to Van Monster the same day, which means that you should be able to collect your vehicle the next day. If your van requires a tracker to be fitted this can delay the process by up to four days. If we do not get your documents back by close of business on a Friday. (Our normal business opening times) then please be aware that there may be a delay in collecting your new van until after the weekend.

  • What are the benefits to having a tracker fitted?

    There are several benefits to having a tracker fitted on your van including:

    • Discounts on insurance
    • Theft prevention
    • Better fuel consumption and driver behaviour management
    • Complete reporting on your business miles throughout the year, which will reduce your HMRC tax liability

  • Can the vehicle be leased as opposed to purchase?

    Unfortunately not

  • Who is responsible for insuring the van?

    As part of the terms of sale, you will be fully responsible for taking on all associated costs with the van, this includes: insuring the van for business use, regular servicing, road tax & making sure the van is kept in good working condition. You will be asked by Van Monster to provide proof of insurance in order for you to drive the van away.

  • Can I part exchange my old/existing van?

    Yes, subject to Van Monster’s terms and conditions (age of vehicle, condition, mileage etc.).

  • Can I have a van if I have bad credit?

    This will depend on the nature of the bad credit. If you have been made bankrupt in the past 6 years then unfortunately we would not be able to facilitate van finance for you.

  • How much can I borrow?

    This will depend on a number of factors including your gross weekly income, your VAT rebates and the cost of the van you choose. Please call IN-SYNC Credit for a personalised quote today.

  • How do I pay for the van?

    You will pay for the van via your weekly income deductions. Each time you are paid by IN-SYNC Outsourcing they will deduct the agreed amount from your income and transfer this over to IN-SYNC Credit Services to pay towards your agreement. If you are not paid via IN-SYNC Outsourcing then payment can be made via a continuous payment authority (CPA) directly from yourself to IN-SYNC Credit Services.

  • What happens if I stop being paid through IN-SYNC Outsourcing?

    If you stop being paid through IN-SYNC Outsourcing you will need to contact IN-SYNC Credit Services on 01252 702 270 as soon as you stop being paid through them. IN-SYNC Credit Services can then arrange an alternative way for you to keep paying towards your agreement such as a CPA or direct debit.

  • I’m not paid by IN-SYNC Outsourcing. Can I still get a van with you?

    Yes you can, you are able to make payment directly to IN-SYNC Credit Services via CPA or direct debit.

  • Can I change my repayment amount?

    If you are struggling to keep up with your repayments please contact IN-SYNC Credit Services on 01252 702 270 so we can assess your current situation and affordability.

  • What happens if I miss a payment or do not work for a week?

    If you don’t work for a week there are a couple of options available to you. You can either choose to have a double payment taken from your next payment with IN-SYNC Outsourcing or we can apply a payment break (subject to ICS affordability assessment), this means your agreement will still be up to date and the normal deduction amount will be taken from your pay. It is important to let us know if you don’t work for a week and wish to have a payment break applied otherwise we will automatically take a double payment the following week.

  • Can I make extra repayments towards the cost of the van?

    Yes. You can make extra payments towards your agreement, either in part or in full. In order to do this please contact IN-SYNC Credit Services on 01252 702 270 so we can discuss this further with you.

  • What if my situation changes and I can’t afford the repayments?

    If you are unable to continue to make your regular payments to IN-SYNC Credit Services then you will need to contact IN-SYNC Credit Services so we can discuss your current circumstances with you and assess your affordability.

  • How much will I be charged?

    Our interest charges vary from 14.9% to 29.9%. To check the exact amount you will be charged please refer to the “how much will it cost” section on the adequate explanations attachment. There is also a one off £75 administration fee.

  • What if I change my mind?

    If you change your mind you have the right to withdraw within the first 14 days. For more information regarding your right to withdraw please refer to the “when the agreement is entered into and your right to withdraw” section on the adequate explanations attachment.

  • How long do I have to make repayments for?

    Repayments are made over a period of 12 – 24 months. You will be advised of your agreement length before you purchase the van. You can choose to make extra repayments and settle the agreement early if you wish.

  • What documents do I need to sign and return?

    You will be sent a Conditional Sale Agreement, this is the contract between yourself & IN-SYNC Credit Services and will detail the legal elements of your agreement. You will also be sent a payment deduction authorisation form (if you are paid via IN-SYNC Outsourcing). This form will specify how much a week will be deducted from your wages and when the deductions will start from. It also gives IN-SYNC Outsourcing the authority to deduct the agreed amount from your wages. Both of the forms mentioned above must be signed and returned before you will be able to get the van.

  • Do I have to pay a final lump sum?

    No there is no final lump sum payment to pay at the end of the agreement as all payments are split equally throughout the course of the agreement.

  • I don’t understand how the VAT on the vehicle I purchase gets used against the cost of my loan?

    IN-SYNC Tax will recover the VAT paid on the vehicle on your next quarterly VAT return. This payment is then transferred to IN-SYNC Credit Services who will utilise the capital allowance to reduce the outstanding loan balance.

  • I want to buy a van but I don’t want to register for VAT – can I do that?

    Unfortunately not, part of the qualifying criteria for vehicle finance through IN-SYNC Credit Services is to become VAT registered. If you do not wish to become VAT registered we will not be able to provide this service to you.

  • How does my VAT rebate pay towards the cost of the van?

    After you become VAT registered you will generate VAT rebates with each of your invoices. IN-SYNC Credit Services will work out your VAT rebates for the year and will then split the total cost of your repayments between your VAT rebates and direct payments from yourself. This means your repayment will be reduced as we can use your VAT rebates to pay towards the cost of the van. With the help of IN-SYNC Tax we are also able to use the VAT on the van to claim against the cost of the van.

  • If my agreement is with IN-SYNC Credit Services why do IN-SYNC Outsourcing & Tax need to be involved?

    As a group of companies IN-SYNC Group have a unique offering for self-employed clients wishing to purchase a van. IN-SYNC Credit Services will facilitate the agreement, IN-SYNC Tax will help get you VAT registered and IN-SYNC Outsourcing can make the deductions directly from your wages for your convenience.

  • Can I claim Annual Investment Allowance (AIA) on my new van?

    You are entitled to claim tax relief on the vehicle you purchase through IN-SYNC Credit Services. Our partner, IN-SYNC Tax, can help you to claim the cost of your van as an extra expense on your end-of-year Self Assessment. This means the vehicle cost will be offset against your gross income, which will benefit you by reducing your tax liability to HMRC.

  • Why do I need to buy a vehicle before the 31st of March to reduce my tax liability?

    You would need to purchase your vehicle before the end of the financial year on 5th April 2019 to be able to claim the benefit and reduce your tax liability this year.

  • What if I get my van after the 31st of March?

    If you purchase your vehicle after 5th April 2019, you will miss this year’s deadline and will need to wait until the end of the 19/20 tax year before you can claim the benefit. Your tax liability for that year will thereafter be reduced.

  • What is the Interest Reduction Incentive?

    The Interest Reduction Incentive is a scheme we run which is designed to reward good payment behaviour. For each quarter you successfully make all payments in full you will qualify for a reduction in the interest we charge you on your agreement.

    How do I qualify?

    In order to receive the maximum reduction, you must make all payments in full, on time each quarter. If you miss a payment during one quarter then no reduction in interest for that quarter will be applied. However, as long as you have brought your account back up to date and make all payments in the following quarter then you will qualify for a reduction for that quarter.

    The reduction amount you will receive depends on a variety of factors these include:

    • The original interest rate charged on your agreement
    • The amount of qualifying periods
    • The length of the loan

    The reduction in interest is calculated as the end of the agreement once the balance has been paid in full and the number of qualifying periods has been determined. The reduction amount can then be used towards your deposit to finance a new van with us or can be paid back to yourself in cash.


    The example below demonstrates the reduction amounts we offer:

    %  Reduction:           Quarterly           Annually          Total Max (over 2 Yr Term)

    Low risk:                      0.25%                 1%                        2%

    Medium Risk:               0.5%                   2%                         4%      

    High risk:                     0.75%                3%                         6%

    This means if your original interest rate was charged at 22.9% for example and you paid your agreement on time each quarter your revised interest rate would be 18.9% (based on a medium-risk client)

  • Is maintenance included?

    Maintenance is always included within the price quoted and who will need to carry out the maintenance will depend on who supplies the van you purchase.  

  • Who do you partner with to provide vehicles?

    We have a wide range of suppliers, giving you access to thousands of vans nationwide.


    These include:

    • Van Monster
    • Evans Halshaw
    • Bourneville
    • John Clarke

  • What type of loans could I be eligible for?

    We offer unsecured personal loans dependent on your employment circumstances. Our loans are designed to be flexible to cover your immediate financial requirements and our clients have the option to choose a loan amount and length which suits their budget.

  • Am I eligible for a Loan?

    In order to be eligible for a loan you must be 18 years or over and be a UK resident, have a UK bank account with a debit card and currently be in employment or self-employed and have a good credit history.

  • How much can I borrow for an unsecured loan and for how long?

    You could borrow up to £7,500 for one of our unsecured personal loans and repay over up to 3 years.

  • What are the lowest interest rates you offer?

    Our lowest representative rate % APR on unsecured loans from £1,000 to £7,500. The APR you are offered, if accepted for a loan, may vary depending on your personal circumstances.

  • How long does the application process for an unsecured loan take?

    If you apply online the application process takes no longer than 10 minutes and if your loan is accepted, you could receive your funds the same day. 

  • What does it mean if my application is referred?

    If your loan is referred it means we need to make some additional checks against your application. We will contact you to let you know if we need any further information.

  • Does a loan require a credit check?

    Yes, IN-SYNC Credit will carry out a credit check as part of our affordability assessment and decision making process.

  • How do I repay the loan?

    The loan will be repaid in instalments on a weekly or monthly basis in line with your loan agreement direct out of your bank account using a Continuous Payment Authority (CPA) agreement. CPAs are a type of regular automatic payment that allows us to withdraw sums from your account without having to contact you seeking repeat authorisation for each payment. CPAs are used for various payments such as gym membership and broadband providers. Once agreed by you, the CPA is used to collect payments but it is important to us that you are made fully aware of the commitment you are making when applying for and accepting credit from us.

  • What happens if I lose my job or can’t make the repayments?

    If you lose your job or are in financial difficulty, you should contact IN-SYNC Credit on 01252 702 270 straight away to discuss an alternative repayment arrangement.

  • Can I repay my loan early?

    Yes, you can settle your loan early by contacting IN-SYNC Credit on 01252 702 270. Interest accrues on a daily basis, which means that repaying the loan early may save you some money.

  • What happens if I change my mind after taking out the loan?

    You automatically have a 14 day cooling off period where you may cancel your loan agreement with no financial penalty. You will however still be required to pay any daily interest accrued on the loan agreement within that cancellation period.

  • Does taking the loan out affect me in any way?

    If you hold any funds on account within our group and your loan falls into arrears, the funds will be held until your loan has been cleared. The loan is also registered on your credit file, so it is important to maintain payments or contact us if you are experiencing financial difficulties.

  • How do I choose the right lender for me?

    It is important to remember that whilst the need for funds may be urgent, the need to properly consider all your options is greater. Start by making a budget so you know what repayments are affordable for you. Then compare the different lender's loan products, associated fees and repayment options to help form your decision. If you are looking for flexible and secure credit options, then IN-SYNC Credit may be the right lender for you.

  • What can I do if my application has been declined?

    If your loan is declined you can get a copy of your credit report from Call Credit which is the credit reference agency we use is CallCredit:

     Consumer Service
     Callcredit Limited
     PO Box 491
     LS3 1WZ

  • Why did my APR change

    The rate that is displayed is a representative rate which represents the APR that the majority of our customers will receive. For the customers that we are unable to offer this rate to, we may be able to offer you a loan at a higher APR, with a higher instalment amount.

    We take into account all the information you supplied on your application, along with an up-to-date search of your credit file to determine whether we can accept the application, and also determine what rate we can offer you.

  • How do I sign my loan agreement?

    You can sign your loan agreement online using our e-signature service, this is a fast and simple way of signing your agreement and enables us to get the funds to you as quickly as possible.

  • I was declined, can I apply again?

    If you’ve been declined, you can apply again, however, it is not advisable to do so for a least three months or until your circumstances have changed before you do so. This is because making several applications close together could have a negative effect of your credit score, and could make it harder for you to be accepted in the future.  

  • What is a CBA?

    The CBA facility is an advance on your Self Assessment rebate for the current tax year. The Self Assessment will be used to pay off the advance payment once IN-SYNC Tax submits your Self Assessment and receives your rebate at the beginning of the new tax year.

  • Am I eligible for a CBA?

    You are eligible if you are: 

      Self-employed and registered as CIS with either 20% or 30% deducted at source
      Have worked as self-employed during the current tax year
      Your account with HMRC is all clear with NO outstanding years to be submitted or penalties to pay
      You agree for IN-SYNC Tax to be your tax accountant for the current tax year
      Have a UK bank account
      No active bankruptcy or Scottish Sequestration


  • How much can I borrow?

    You can borrow from £100 up to a maximum of 60% of your estimated tax rebate.

      July – September = Maximum of £250
      October – December = Maximum of £500
      End of December – End of March = Up to 60% of the estimated tax rebate (depending on your expenses)


  • How much will the CBA cost me?

    We charge a fixed fee of 21%-35% of the advanced amount, depending on the time of year you take out the advance. Please contact us to find the exact cost of your advance. As part of taking out a CIS Backed Advance, your self assessment will be submitted to HMRC by IN-SYNC Tax LLP. IN-SYNC Tax's fees for this service are £325 (inclusive of VAT). 



  • How long does the application process for a CBA take?

    After IN-SYNC have confirmed you are eligible for the CBA, the application should take you roughly 5 minutes for you to complete using an electronic signature document.

  • Does a CBA require a credit check?

    Yes. IN-SYNC will carry out a soft credit check as part of our assessment and decision making process. The credit check will work by conducting a quotation search on your credit file. This will not affect your credit rating and, although you will be able to see the search on your file, other organisations will not.

  • How do I repay the advance?

    There is no requirement for you to make repayments on the advance. When IN-SYNC Tax receive your tax rebate from HMRC we will simply deduct the amount advanced to you previously automatically and pay any surplus directly to you.

  • How long will it take to receive the funds into my bank account?

    IN-SYNC can arrange the payment to go directly into your bank account by faster payment the same day.

  • When are IN-SYNC’s office open and how can I contact IN-SYNC?

    IN-SYNC offices are open Monday to Thursday 8.30am – 6pm, Friday 8.30am – 5pm and Saturday 9.00am – 1.00pm 

    Call 01252 702270, email [email protected]

  • What happens if I change my mind after taking out the advance?

    You automatically have a 14 day cooling off period where you may cancel your advance agreement with no financial penalty. You will be required to repay the funds deposited into your account, prior to the agreement being terminated. 

  • Am I eligible for a VAT rebate?

    If you are self-employed you are eligible to become VAT registered and reclaim a portion of your VAT via the Flat Rate Scheme. You are still eligible to become VAT registered even if you earn under the £85,000 turnover threshold.

  • How long does VAT registration take?

    Applying to become VAT registered takes between 4-8 weeks, the registration process would be completed by our partner company IN-SYNC Tax LLP.

  • Can I backdate my VAT rebate?

    You can backdate your VAT rebate up to a maximum of 4 years.

  • How much can I claim back?

    Your VAT reclaim can be over £10,000 dependent on how long you have been self-employed.

  • Do I have to complete any VAT returns?

    No, your registration, invoicing and VAT returns will be completed and submitted on your behalf by IN-SYNC Tax LLP.

  • Will this affect my yearly self-assessment?

    You will have to include any rebate that you receive in your annual self-assessment, but you should also include the fees charged as an expense, to reduce the tax you have to pay on the rebate received.

  • When will I receive my VAT rebate payment?

    Any VAT rebate is usually paid by HMRC on a quarterly basis within 4 weeks of the VAT return submission date, unless you take advantage of our cash advance service in which case you could receive it within 24 hours!

  • How do I apply for a cash advance?

    Complete the contact form and we will call you, or alternatively call us on 01252 702270 to speak with one of our sales agents. We will send you a PIN code to complete an online application, then sit back and wait for your payment!

  • What are your fees?

    Our fees for providing an early cash advance on your VAT reclaim are 30% of any rebate that is claimed back.

  • How long will it take to receive the funds into my bank account?

    IN-SYNC Credit will arrange the cash advance payment to go directly into your bank account by faster payment the same day.

  • When are IN-SYNC's office open and how can I contact IN-SYNC Credit?

    IN-SYNC Credit's offices are open Monday to Thursday 8:30am - 6:00pm, Friday 8:30am - 5:00pm and Saturday 9:00am - 1:00pm. You can contact us by phone on 01252 702270 or via email at [email protected] or you can go to our website.

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We're real people and won’t baffle you with unnecessary jargon. Give us a buzz on 01252 702 270.

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