Rates from 12.9% APR. Representative Example: Borrow £10,000 over 5 years with a £0 deposit. Representative 21.8% APR fixed rate. Monthly payment: £264.29. Option to purchase fee £10 payable. Total cost of credit: £5,867.40. Total amount repayable: £15,867.40.
Car Finance 247 Limited is a credit broker, not a lender.
Yes, you can get car finance if you’ve had a CCJ in the past. We know that life can be unpredictable, and your financial circumstances can change. That’s why we work with a panel of lenders and some of them can help people with a CCJ get a car loan. Of course, everyone’s situation is different and it’s not all about your credit score, so we’d need to look at your individual details to determine if we can find you an approval in principle from our lending panel.
If you have entered an IVA, or still have one marked on your credit report, you can still find car finance. Here at CarFinance 247, we work with a panel of lenders to look for car finance solutions for people with a range of circumstances, including those with an IVA and bad credit. Bear in mind that you will need to seek permission from your Insolvency Practitioner before applying for car finance, and should they approve your application to apply, we would need to see confirmation of this.
If you have been declared bankrupt in the past, we may still be able to help you find car finance. We work with a panel of lenders including some that can help discharged bankrupts secure a car loan. Your bankruptcy will have impacted your credit history, but lenders consider more than just your credit score, such as your affordability and employment history, when deciding whether they can approve you in principle.
Yes, if you’ve missed payments or defaulted on a loan in the past, you may still be able to get car finance. We understand that circumstances can change, and your credit report doesn’t tell the full story. That’s why we work with a panel of lenders to help people with a variety of credit scores find car finance even if you have had a default.
We work with a wide panel of UK lenders and some do, some of which may offer car finance options with no deposit – even if you have bad credit, subject to status.
If provisionally approved, speak to your account manager who can let you know how it works and what options are available to you.
There is no set credit score than can guarantee or prevent you from finding car finance. If you have a low credit score or no credit history at all it can be more difficult to secure a loan but it’s not impossible. In that case, you may be eligible to apply for joint car finance or put down a larger deposit to reduce the amount you need to borrow. You can also take steps to improve your credit score including registering on the electoral roll, keeping up with your monthly bills, and checking your credit report regularly.
Getting accepted for car finance depends on many factors. These include your credit history, income, and the lender’s criteria. Some lenders may have strict requirements. But others specialise in offering car finance to those who might have been refused car finance elsewhere. Getting all the documents needed for car finance together might put you in the best position for approval. Credit is subject to status.
While we don’t currently offer leasing at CarFinance 247, you may be able to find a leasing deal elsewhere, even if you have bad credit.