Bad Credit Car Finance

Yes. While your Credit Score is important for Lenders when they decide on your eligibility, it doesn’t dictate it. While a good Credit Score could get you a better deal, specialist Lenders and Finance Arrangements (like Guarantor Loans or Joint Purchase) can get you behind the wheel even if you have very poor credit. You just need to talk to the right Lender. Find out how low scores affect car finance?

Yes. There is no minimum Credit Score for securing Car Finance but a lower Score can put add additional costs to the interest rate al you are offered. Lower scores often come with higher charges and interest rates (APR), meaning you pay more over the full term of your Loan. So long as this fits within your monthly finances, you can drive away in the car you need, even with a Credit Score of 500.

There is no minimum Credit Score for securing a loan of any kind, including Car Finance. A score as low as 200 will impact the charges and interest (APR) you’ll be offered on you loan, however. This means that you could pay much more over the length of the loan than someone with a higher score. Some Lenders might refuse a score this low but you could still be accepted by Poor Credit specialists.

We work with accredited and approved Low Credit Lenders from across the UK to find you the best deal even if you have a very low credit score and looking for car finance

Yes. While a new car is more expensive, with higher monthly repayments, the technicalities of finance for New and Used cars are near-identical. If you can demonstrate that you can afford the deposit and monthly payments, Bad Credit needn’t prevent you getting finance on a New car, though it might make it a more difficult and expensive. See some tips on how to buy the best cars with bad credit

Any dealership registered with the Financial Conduct Authority can work with lenders or brokers to offer any legal Car Finance solution, including deals for those with poor credit. If a dealership knows they’ll be paid by the lender, there’s a good chance they’ll sell you the car: the risk is with the Lender.

We work with trusted Lenders all over the UK to offer Affordable Car Finance deals to our customers, no matter what their credit history. Choose a car from one of our dealers and we’ll find you the finance to buy it.

• If a lender cannot validate your income digitally, we’ll need your last 2 months payslips. Some newer banks are hesitant to share dates on earning, which is why we may ask.
• A copy of your driving licence or a provisional copy, if you’re a new driver.
• You may be asked to share open banking details if you have a lot of gambling alerts on your file or evidence that you have recently take out more credit.
• Some lenders have restrictions on the age and mileage of the car you want to buy – generally a car that has traveled less than 120,000 at purchase, and is not older than 10yrs old at the start of the agreement.

The process of securing your car through us varies depending on the lender you choose and your personal circumstances. We work hard to ensure the process is as quick, easy and painless as possible by taking care of as much of the paperwork as we can on your behalf.

As a broker, we don’t have direct control over the exact timing of the finance and delivery but you’re always welcome to talk to us about your purchase, every step of the way.

Unless your Credit Rating is particularly high, Dealerships and Lenders will want to look at your employment status. In most cases this means showing them up to three months of payslips as proof of earnings. These can be either paper payslips or digital payslips.

Yes. A big deposit helps in two ways: firstly, it proves that you’re good with your money and have been earning enough to save. Secondly, a higher deposit means that the amount you’re actually financing can be much lower. This means that monthly payments can be lower, as will your interest payments, saving you money in the long run. Read more about deposit contribution.

Car Finance must, by law, be in the name of the owner of the car being purchased. There are ways for you to purchase a car on finance for another person but the money must always come from their bank account.

You can become a co-signatory on the finance with certain finance deals. You can also set up a direct debit from your bank account to theirs for an identical amount. You can’t, however, have the money taken directly from your account on their behalf.

If a lender cannot validate your income digitally, we’ll need your last 2 months payslips. Some newer banks are hesitant to share dates on earning, which is why a Lender may ask. A copy of your driving licence, or a provisional copy, if you’re a new driver might also be requested.

You may be asked to share open banking details if you have a lot of gambling alerts on your file or evidence that you have recently take out more credit. This might show up when they perform a Credit Check – don’t take it personally: there are many reasons that your Credit Score may be Low and many ways to improve it.

Some lenders have restrictions on the age and mileage of the car you want to buy – generally a car that has traveled less than 120,000 at purchase, and is not older than 10yrs old at the start of the agreement.