Help & Advice

Car Loan with no proof of income

Hello, I am self employed, have been for a year now. I am a sole trader and my work is all cash work.

I have no proof of income. I am looking for £4000, I have a £1000 deposit and my credit score with experian is 870. Can you help?

Colin


Answer

Hi Colin, as you have a good credit score we may be able to help even though you have no proof of income.

We just need to get you approved with a lender that doesn't require proof of income. This may be possible as your score is 870.

Please apply when you feel ready and we'll be in touch within a few hours. If approved we provide a no obligation quote and you can choose a car from any dealer. Have a good weekend. Rachel

Answer correct as of September 2016

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Set your budget

£
4 years

In this illustration your credit score is set to

Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

We compare products from 18 of the UK's top lenders to get you the best deal.

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender

More related questions

I have a very good credit history, always kept up my payments up to date, no late payments, but do not have proof of income. Can i get a car loan?

Answer

Hi Abbas, yes we can get you a car loan even though you have no proof of income as you have a good credit history and as long as we get you approved with one of our prime lenders they do not ask for proof of income - just a driving licence and proof of address. However, when you complete the application you'll need to put whatever income you get onto the form. Please apply. Kind Regards, Rachel

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Hi, I'm looking to borrow £12,000 for a car. Have just checked with Experian and my credit score is 999. I have no other credit at the moment. I am self employed with no proof of income but know I can manage the repayments. My monthly income is approx £4000. I wouldn't be able to have a guarantor either and I'm not a homeowner, can you help? Also, I could put down a deposit (if that would secure me the loan), about 5 or 10%. Kat.

Answer

Hi Kat, as you have a good credit score we may be able to get you approved with a lender that doesn't require proof of income. The deposit will certainly help and it doesn't matter that you're not a homeowner. As long as you're on the electoral roll at your current address and have a UK bank account we should be able to gain an approval for you. Please apply when you get a moment. Kind Regards, Rachel

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I have just started up working for myself and had major problems with my van. I need a reliable one.

Is there anyone out there that would let me take out van finance with bad credit and no proof of income?

Answer

Hi Matt, thank you for your question.

As you have bad credit and no proof of income as such yet we'd struggle to get you a lender that would accept you. Usually when someone has a poor credit history we need to see 3 months payslips of bank statements as proof of income.

Why don't you get together 3 months bank statements while hiring / borrowing another van and we'll then go from there. Please make an application when you're ready and once approved you can choose a van from any dealer and we also provide a no obligation quote. Kind Regards, Rachel

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Hi, I'm looking for car finance. My credit score is fair on Experian at 767.

I have recently ended 2 AP due to a period of unemployment and my monthly income is £2100 after tax and been in a job for 4 months. I have a £4000 deposit and am looking to lend up to £15000 over 48 months preferably on a PCP arrangement. Thanks and regards

Answer

Hi Andrew, thank you for your question.

As you're now in employment, have a large income and a fair credit score i'm confident we could get you approved for finance. The amount you earn may limit us to circa £10k-£12k though.

Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Rachel

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Asset 1 Just get in touch,

we'll try to help Asset 2

Rachel Wilson, Underwriting Manager

Set your budget

£
4 years

In this illustration your credit score is set to

Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

We compare products from 18 of the UK's top lenders to get you the best deal.

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender