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Self Employed Car Finance

HI EDWIN, MY QUESTION IS - I'M SELF EMPLOYED AND NOT ON THE VOTERS ROLL AT EITHER MY OLD ADDRESS OR NEW AND IVE GOT A POOR CREDIT HISTORY ON MY EXPRIAN REPORT. WOULD I HAVE ANY CHANCE OF GETTING FOR A CAR LOAN? I'M A TAXI DRIVER AND THAT'S WHAT I NEED THE NEW LOAN FOR!

Posted by JAZZ on 09/10/2011 @ 08:05

Hi Jazz, my advice to you would be to get on the electoral roll asap at your current address. Don't worry about your previous address. We are specialists in getting poor credit car finance for self employed people but you need to be able to prove your income aslo. Is this possible? Payslips / bank statements etc. Please re-apply when you're on the electoral roll for self employed car finance.

Posted by Edwin Miles on 10/10/2011 @ 10:21

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I can get my accounts from my accountant who does all my taxi earnings but as it's cash work i only put my mortgage and insurance money into the bank account and for me to be approved would my accounts be enough? I can get on to the electoral roll.

Posted by Jazz on 10/10/2011 @ 15:01

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Hi Jazz, we may struggle but getting a letter from your accountant proving your income would certainly help. Please just make an application and we'll take it from there. Kind Regards, Edwin

Posted by Edwin Miles on 10/10/2011 @ 15:20

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My credit rating is fair. I have 3 defaults but all my credit payments are now up to date. Can i get car credit with you as i keep getting refused because i'm self employed

Posted by Jimmy on 24/10/2011 @ 18:15

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Hi Jimmy, if you're credit rating is fair then we should be able to help even though you're self employed. We'd just need to see 3 months bank statements to prove your income. You do say you have 3 defaults though. What do they total? Also what car are you looking to buy and how much do you want to borrow? Edwin

Posted by Edwin Miles on 24/10/2011 @ 18:18

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Do you have to be employed to get car finance? as i am self employed.

Posted by Robert on 10/11/2011 @ 14:31

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Hi Robert, we can approve you for self employed car finance so please make an application and we'll see if we can help you out. All that we ask for if you get approved is proof of income so we will need bank statements and the possibility of an accountants letter. Thanks, Edwin

Posted by Edwin Miles on 10/11/2011 @ 14:34

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hi,my daughter has been self employed since sept she has a car on finance but its in her nans name.the finance finishes sept 2012,she has tried to get credit previously but to no avail,do you think you would be able to help...thankyou kevin

Posted by Kevin on 24/11/2011 @ 14:30

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Hi Kevin, we have many lenders who help people obtain car finance even though they are self employed. As long as your daughter can prove her income with bank statements etc there shouldn't be an issue. What's your daughters credit history like? Edwin

Posted by Edwin Miles on 24/11/2011 @ 14:32

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hi,thankyou for the reply.My daughter had a court order 6 years ago which i paid off straight away,she has a credit card which is up to date,she has tried in vain to get credit but always the same answer ' NO ' thankyou...kevin

Posted by Kevin on 25/11/2011 @ 15:07

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Hi Kevin, please make an application on our site for self employed car finance and hopefully we'll be able to help.

Posted by Edwin Miles on 25/11/2011 @ 15:34

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hello edwin. i want to get a car on finance from your company but i need to be sure about a few things first. can i still apply for finance if i am self -employed not on the electoral roll,i've been using a 1000 pound overdraft for the last 5 months and i owe about 2000 pounds on credit card and a store card?by credit score on checkmyfile is 608 on call credit ,809 on equifax.and im looking at about 7000 pounds car loan.Thank you very much for your help.

Posted by Mike on 29/12/2011 @ 12:55

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Hi Mike, your credit score doesn't seem too bad and as you're self employed you'll just need to provide 3 months bank statements showing your income - is that ok? If so, please make an application and we'll try and get you approved with one of our lenders.

Posted by Edwin Miles on 29/12/2011 @ 12:57

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Hi, I'm self employed and willing to pay a deposit of £20 000 plus monthly installments of £2000,but I DONT HAVE A PAYSLIP! Can you help?

Posted by Nomthi on 09/01/2012 @ 10:16

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Hi Nomthi, as you're self employed you won't have payslips so the finance companies will just ask for bank statements instead to prove your income. As long as you can provide bank statements and possibly an accountants letter we should be ok.

Posted by Edwin Miles on 09/01/2012 @ 10:17

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Hi, I'm looking for a £4000 car loan but I've been self employed now for 9 months and invoice my main souce of income every 3 months, so I dont have monthly statements. Other than that I do have a good credit score and a £1k deposit. Can I still get a loan? Thanks

Posted by Alex on 20/02/2012 @ 21:46

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Hello, My boyfriend is self employed and has bad credit and defaults on credit cards. He is a home owner and really needs a car for work. How can you help him? Thank you

Posted by Kelly on 07/03/2012 @ 09:22

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Hi Alex, sincere apologies for the delayed response. If you have a good credit score we will get you approved for self employed car finance with one of our prime lenders and they don't need to see proof of income so that's great news. The deposit you have is also great to see as it shows commitment from yourself. Please apply and hopefully we'll have you in a new car in no time. Regards, Edwin

Posted by Edwin Miles on 07/03/2012 @ 09:27

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Hi Kelly, what is the total amount of your boyfriend's defaults? If they're over £5000 each we won't be able to help but if they are under we can possibly get him approved for approx £5000. The good news is that he's a home-owner. Lenders do look favourably on this. Are the mortgage payments up to date? Finally, does your boyfriend have a deposit or part exchange he'd like to place into the deal? Kind Regards, Edwin

Posted by Edwin Miles on 07/03/2012 @ 09:30

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Hi, I've read the other posts from self-employed people. I can prove income through bank statements, but how does the calculation work as I have significant outgoings from the same account? How can I work out how much I could borrow on the back of my existing income and expenses? My credit history is fine. Thanks

Posted by John on 16/04/2012 @ 09:44

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A great question John. Your budget is traditionally worked out as 5 times your Net monthly income with some lenders and other lenders use the calculation that your monthly payment can't be over 20% of your monthly income. However, if you have good credit you won't even be asked to prove your income as we'll just need a driving licence to fund the deal. What car are you interested in? Regards, Edwin

Posted by Edwin Miles on 16/04/2012 @ 09:47

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Thanks for your reply. Do you offer finance on cars that are not new? I'd prefer a higher model 3 year old car than a more basic new one.

Posted by John on 16/04/2012 @ 11:08

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Hi John, yes - we provide finance on cars that we supply that are used. We can supply car from 6 months to 7 years old with no more than 100,000 miles on. Edwin

Posted by Edwin Miles on 16/04/2012 @ 11:58

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Hi, i'm self employed & i have just moved house. I have infomed the local council but they haven't put me on the eletoral list yet. Also, i do my own accounts online but have got a SA302 off the tax office for the last 2 years. Is that enough for proof of working and earnings?

Posted by Cliff on 25/04/2012 @ 20:48

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Hi Cliff, you can still apply for finance even though you're not on the electoral roll but you may have more chance of being approved if you wait to get listed first and then apply. Lenders do like to see traceability and address history. On the income front all we'd need is bank statements to prove your income once we have you approved. As you're self employed do you bank all your earnings? I look forward to receiving your application in the near future. Kind Regards, Edwin

Posted by Edwin Miles on 26/04/2012 @ 09:28

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Hi, I am a Self Employed IT Contractor and I am looking for Car finance. I have a credit rating of Fair with a score of 850. Would I be eligable for Car Finance?

Posted by Raymond Phipps on 10/05/2012 @ 14:01

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Hi Raymond, yes you would be eligible for car finance. Please apply and we'll call you to take you through the next steps. Regards, Edwin

Posted by Edwin Miles on 10/05/2012 @ 15:08

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Hi Edwin, I am self employed for almost 2.5 years. As i am a director and not having payslips can I still get a car loan with a competitive rate? I do have the money but like to spread my payments. My credit rating is good on equifax, could you help?

Posted by Pim on 23/05/2012 @ 12:14

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Hi Pim, yes - we'll be able to help. All we'll need is bank statements as proof of income rather than payslips. If you're credit is immaculate and we can get you approved with one of our prime lenders then we won't have to prove income anyway so, you'll have nothing to worry about. Do you have a deposit and are you on the electoral roll? Edwin

Posted by Edwin Miles on 23/05/2012 @ 13:23

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Dear Edwin, Yes, i am on the electoral roll and I have a deposit. The car I want is approx £18,500. I was thinking of paying a £5k deposit and the rest on finance. So i can use you to start the ball rolling? I am from Holland, have lived for 10 years in the UK and have a good almost excellent credit rating on equifax with 0 default payments. The only reason I am not excellent is that i am renting and have moved houses every 2 years or so. I am currently coming to the end at my current lease contract with VW Finance which I had for 3 yrs with 0 missed payments. I am happy to start proceedings with you to get the loan in place. Are there any costs involved? Kind regards, Pim

Posted by Pim on 23/05/2012 @ 13:32

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Hi Pim, yes you can certainly get the ball rolling with us. Please make an application on the site so that we can get an acceptance in place for you, which i'm sure won't be a problem. We can then either locate a vehicle of your choice for you or you can locate your own car from a reputable dealer. We can source any vehicle though through our relationships with the manufacturers and even deliver your car to you. What car are you looking at? There are no charges other than delivery if you choose a car from us and want it delivered :-)

Posted by Edwin Miles on 23/05/2012 @ 13:47

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Hi Edwin, I have identified a car at Sandles car supermarket which is a Jaguar XF 3.0d S from 2009 in Grey with 58k. Will that be ok? I would like the loan to be running for 36 months if possible. Kind regards, Pim Assen

Posted by Pim on 23/05/2012 @ 13:58

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Hi Pim, as long as we get you approved that will be fine :-)

Posted by Edwin Miles on 23/05/2012 @ 15:20

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