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Car Finance on Benefits

Hi Edwin, i'm currently not employed and am on benefits. Can i still apply for car finance? I am confident of getting a new job soon and my credit history is ok.

Posted by Ellis Frampton on 12/10/2011 @ 21:24

Hi Ellis, thanks for using the Q&A. Yes we can get you car finance even though you're on benefits. As long as you can prove your income and show your bank statements and you have a driving licence etc then we should be ok as you say your credit history is ok. If your credit history was bad we may struggle but please make an application so that we can get working on an approval for you. How long have you been on benefits for and you mention about getting a new job - is anything in the pipeline? Kind Regards, Edwin

Posted by Edwin Miles on 12/10/2011 @ 21:34

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Hi, I am a single parent I have bad credit but receive £953 PCM in benefits for me and my children. Would I be able to get finance?

Posted by Kirsty on 20/01/2012 @ 16:55

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Hi Kirsty, we'll certainly try - do you have good credit or poor credit. If you have poor credit we may struggle not unless you can add a co-hirer or guarantor. Do you have any deposit? Thanks, Edwin

Posted by Edwin Miles on 20/01/2012 @ 16:59

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i have around £300 deposit but my credit rating is poor, i could add my dad as co-hirer but he's credit rating is the same as mine

Posted by Kirsty on 20/01/2012 @ 17:17

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Hi Kirsty, make an application in your own name and i'll look out for it. We can't guarantee anything but we have access to many lenders so i remain hopeful. Have a good evening. Edwin

Posted by Edwin Miles on 20/01/2012 @ 17:33

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ive applied now, i genuinely do have the means to pay the repayments but im really struggling to get the finance, i hope you can help me

Posted by Kirsty on 20/01/2012 @ 17:38

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I am on benefits (DLA) and I would like a cheap car. Would you be able to help?

Posted by Andrew Weir-Blake on 25/01/2012 @ 14:26

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Hi Andrew, thanks for using the Q&A. In answer to your question the answer is as follows: we will be able to get you approved for car finance as long as you have a good credit history. If we get you approved with one of our prime lenders we only need a copy of your driving licence to get the deal funded. If you have bad credit we'll struggle as our bad credit lenders (that we work with) need you to be employed unfortunately. But we'd love to help so please apply and hopefully we can get you accepted. Edwin

Posted by Edwin Miles on 25/01/2012 @ 14:35

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Hi, i'm a single mum of one on imcome support, i dont have bad credit rating, would i be appected for car fiance? many thanks

Posted by Callie on 30/04/2012 @ 14:30

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Hi Callie, as long as you have a good credit history we can help you out as the lenders won't ask for proof of income. What credit do you have already and have you made all minimum payments on time? Regards, Edwin

Posted by Edwin Miles on 30/04/2012 @ 15:33

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I have an account with next and a credit card but I haven't used that much. But yes, I always make the minimum payment!

Posted by Callie on 30/04/2012 @ 16:56

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Hi Callie, please apply and we'll see what we can do. In the employment status of the application place down housewife. Regards, Edwin

Posted by Edwin Miles on 30/04/2012 @ 17:03

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Hi there, I would like to buy a new car. I can afford to pay even £2000-3000 as a deposit, but I am on benefits at the moment during my disability. My credit score is around 900. Can you help me to finance a car worth around £9000?

Posted by Alexandrosz on 10/05/2012 @ 14:37

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Hi Alexandrosz, thank you for submitting your question. As you have a good credit score we may be able to get you car finance for £9000 as you also have a good deposit. The lenders we need to get you approved with are prime lenders so if approved they won't ask to see your proof of income. If you get declined by our mainstream lenders we will struggle as the bad credit lenders all need to see proof of employment unfortunately. Do you have lots of credit in your name that is paid on time? Regards, Edwin

Posted by Edwin Miles on 10/05/2012 @ 14:44

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Thanks for your fast reply. Actually, I just checked my score and it went under 900. It's now is 856 which is fair. The only negative factor is the several credit agreements and the high outstanding balances. So, I have to start paying back some of my credit cards to get a higher score again and as soon as I have a good credit rating am I likely to get approved? Do you have an online form or do I need to phone someone when I decide to apply? I do not want a bad credit car finance because the apr is very high. I would like to trade in my old car worth around £3000 as a deposit.

Posted by Alexandrosz on 10/05/2012 @ 18:33

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Hi Alexandrosz, you need to apply on our website www.carfinance247.co.uk when you're ready. You may even get approved now as your credit score is good. Regards, Edwin

Posted by Edwin Miles on 10/05/2012 @ 18:40

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