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One of our ongoing frustrations in the haulage and transport industries is a lack of support from the government to help new drivers cover the cost of training. While we continue working to convince the powers that be that they need to support us, we realise that we also need to provide whatever help we can to our students to find a way to cover LGV training costs.

We know of five different ways you can pay for training as listed below. If you have any questions after reading this article, please do not hesitate to contact us. The HGV Training Centre staff is here to help you as you embark on your career of professional driving.

Option #1 – Paying Cash

In a perfect world, the best way to cover LGV training costs is to simply pay cash. Doing so takes care of all of your costs up front with no worries about having to repay anything in the future. If you don’t have enough cash available, one of the four remaining options will probably work for you.

Option #2 – Financing

We cannot speak for other training providers, but we can tell you that the HGV Training Centre offers financing on every class we offer. We work with Pay 4 Later to make it possible for you to take your training now and pay for it by way of affordable monthly instalments.

Option #3 – Pension Withdrawal

If you are an older worker (age 55+) looking for work due to redundancy, new pension freedoms allow you to withdraw cash lump sums from your pension pot without punitive taxation or penalties. Younger workers just getting started in their careers may have parents or other older relatives willing to help out via their pensions.

Option #4 – Credit Cards

Credit cards are always an option for training providers willing to accept them. This is a viable option if you have a good credit history that allows for credit cards with the lowest possible interest rates. The only caveat here is that you pay off your charges as quickly as possible once you start working. Otherwise, the compounding interest could end up costing you more than its worth.

Option #5 – Personal and Secured Loans

You may qualify for a personal loan through your bank or building society if you have decent credit. Personal loans tend to top out around £5,000, but that should still be enough to cover the LGV training costs at most schools. As for secured loans, these are relatively easy to get if you have decent credit and equity in your home. Just be aware that secured loans are tied to your home.

We always say that where there is a will to take commercial driver training, a way can be found the cover LGV training costs. Do not let the cost of training dissuade you from pursuing a career as a professional. There are lots of ways to pay for training if you are willing to think creatively.

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