Win your car finance with CarFinance 247

If you win, we'll pay off the finance on your car. It's that simple! Your car becomes completely yours, free and clear.

This amazing offer is open to anyone who has secured car finance with us throughout 2023, including Decemeber 2023!

This means that there's still time to enter, get your finance in December, and you're automatically in!

The lucky winner will be announced the week beginning 5th February 2024 on our instagram page.

Terms and Conditions apply.

Bad Credit
Car Finance

Car Loans | CarFinance 247
Get my quote Rates from 9.9% APR. Representative 23.9% APR
CarFinance 247 is a credit broker, not a lender.
Car Loans | CarFinance 247

Rates from 9.9% APR. Representative 23.9% APR. Hire Purchase (HP) Example: Borrow £10,000 over 5 years with a £0 deposit. Representative APR 23.9% fixed rate. Monthly payment: £274.05. Total cost of credit: £6,442.98. Total amount repayable: £16,442.98. Car Finance 247 Limited is a credit broker not a lender.

We look to find the best product from our panel of lenders and will offer you the best deal that you’re eligible for. We earn a commission for providing our services, but this does not influence the interest rate you’re offered in any way.

By planting a tree for every car finance agreement issued to one of our customers, CarFinance 247 is driving towards a more sustainable future.

If you have a poor credit score and you'd like to take out finance on a vehicle, it can be difficult to find a suitable car finance platform. However, at CarFinance 247, there's no need to worry, as we’re able to offer bad credit car finance for all our customers, regardless of your current credit rating.

Building up a good credit score can be difficult. To make a start, you usually need stable employment. In many cases, a car becomes essential for commuting to work. However, undergoing credit checks can make the process extremely difficult, particularly if you can't find a car finance platform that can offer you a deal.

At CarFinance 247, we understand this dilemma, making the financing process as easy as possible for people with poor credit scores. We can offer you guaranteed car finance on the vehicle of your choice, no matter your credit history.

If you'd like to get started, all you need to do is click on the Get my quote button. However, if you'd like more advice first, please make an enquiry and our friendly team of account managers will be happy to help.

What is bad credit?

A credit rating is a score assigned by various credit reference agencies, assessing the likelihood of businesses and individuals being approved for credit by lenders. Generally, the higher the rating, the more likely it is that credit will be approved by lenders.

A bad credit rating usually stems from missing payments or historical financial difficulties, and it can take a long time to build up good credit. The absence of a universally defined bad credit score can make the process challenging, as the UK’s three credit reference agencies use different scales to formulate and measure ratings.

Here are the bandings that Experian, Equifax, and TransUnion currently use to define a poor/very poor credit score:

  • Experian – 0-720
  • Equifax – 0 - 438
  • TransUnion – 0-566

The good news is that your credit isn’t fixed, so if yours sits within these bands then you can take steps to improve your score.

Can I get car finance with bad credit?

Yes! The good news is that you can still secure bad credit car finance – even if you’ve been refused elsewhere.

At CarFinance 247, we know that credit scores come in all shapes and sizes. If you’ve had a CCJ, IVA, been in mortgage arrears, or missed payments in the past, then your credit score could need some work.

But having bad credit doesn’t mean you have to give up on getting car finance. There’s no judgement here.

While we can’t guarantee we’ll be able to find you an approval, we will look at every application individually, taking a range of factors into account to search for a finance deal that’s right for you and your circumstances.

Can I get car finance with no credit history?

If you’ve never borrowed money before and have no credit history, it can be hard to buy a car on finance. That’s because lenders have no way of knowing what kind of borrower you’ll be. Technically, no credit isn’t classed as bad credit, but in the eyes of some lenders, you will be viewed in the same way.

You should always be cautious with any lender that claims to be able to offer no credit check car finance, especially as a young driver or someone with no credit history. Credit checks are an important step in the financing process, providing reassurance for both the lender and the borrower. When you get a quote with CarFinance 247, we’ll only run a soft credit check, which won’t have any impact on your credit score unless you choose to proceed.

Even so, if you’re concerned about your credit history, you may still be able to find a finance option that works for you. Please get in touch with our expert team and we’ll discuss your no credit options with you.

What paperwork will I need to provide?

When applying for car finance, you will need to provide several pieces of paperwork during the assessment period. We work with a panel of lenders – including some that can offer poor credit car loan options – and the documents they need can vary.

In most cases, we’ll usually ask for:

  • Proof of driving licence
  • Proof of address
  • Proof of income

Are you self-employed with bad credit? Your employment status doesn’t have to be a deal-breaker. We also work with lenders that can (subject to approval) help people with a range of employment circumstances get a car loan.

How can you improve your credit score?

The best thing about credit scores is that they aren’t fixed - you can take steps to improve your score over time. Keep in mind though that it isn’t an exact science and the results won’t be instant. Another thing to remember is that each credit reference agency uses a different system to calculate your score, and you may find that your score is slightly different depending on the agency used.

If you’re looking to fix your credit score quickly, there are several steps you could take:

  • Pay your bills on time
  • Check for mistakes on your credit report
  • Don’t use all your available credit
  • Don’t make lots of applications at the same time
  • Get on the electoral roll
  • Make regular payments on time 
  • Check your financial links
  • Build your credit score over time with a credit builder credit card
  • Avoid moving home (if you can)
  • Keep old accounts open and ensure a long credit history

If you’d like to find out more about improving your credit rating, our How to Boost Your Credit Score page may be of interest.

Why come to us for bad credit car finance?

At CarFinance 247, used car finance is all about helping people improve their everyday lives. We understand that building a good credit score isn’t always easy, and we believe that people should not be penalised for past mistakes. Unfortunately, some individuals find themselves trapped in a cycle, hindered by the lack of a vehicle, impeding both their commute to work and their ability to improve their credit score.

This is where we can help.

Whether it’s sorting out the school run, getting that big boot for the big shop, or a car you’re proud to park outside the office, we’ll work to find you the best deal from our panel of lenders, even if you have bad credit.

Plus, you’ll have a dedicated account manager on hand to help guide you through the process, so there’s nothing to worry about.

What's next? How to apply

Now that you’ve decided to go ahead with your bad credit car finance deal, you’re probably wondering how it works.

When you apply for a car finance application with us, it all starts with a no-obligation quote. If you’re approved in principle by one of the lenders on our panel, your personal account manager will give you a call to explain all the details. They can also answer any questions you have and grant you access to our marketplace, which is home to 100,000 used cars from community-rated dealerships based across the UK.

Found a car elsewhere? No problem – we can still help!

Wondering how much you might pay? Use our bad credit Car Finance Calculator to get an estimate of your potential monthly repayments.

Frequently asked questions

The short answer is yes, you may be able to get a car on finance with bad credit. Here at CarFinance 247, we work with a wide panel of lenders and some of them can help people with poor credit scores secure finance.
And it’s not all about your score; we look at every application individually and take a range of factors into account to find a finance option that’s affordable and right for you and your circumstances.

Whilst we can’t guarantee that your finance application will be accepted, we will do our best to find the right deal for you. To get a free no-obligation quote (conducted via a soft credit search that won’t impact your credit score), please click the Get my quote button.

Yes, several lenders on our panel can finance a car with bad credit.

Each lender has different criteria that they need applicants to meet and it’s often about more than just your credit score. We will look at a range of criteria including:

  • Your individual circumstances
  • Financial habits
  • Your salary and income
  • Your overall affordability

Once assessed, we’ll be able to find out what finance options are available and best suit your needs.

While having a large deposit will not change your credit score, it could mean you need to borrow less money to buy a car.

Having bad credit won’t necessarily prevent you from finding a loan, but having a large deposit to put down could affect your chances of being accepted (although this isn’t always a given). If you can put down a large down payment, your total loan amount will likely be lower. This means that your monthly repayments could be more affordable, and you may need to pay back less over time.

Our Car Finance Calculator may also help you to see how much your monthly repayments could be, depending on your initial deposit.

If you have bad credit, you can still buy a new car. Having a poor credit rating could make it harder for you to find a car finance deal, but it’s not impossible.

When you apply with CarFinance 247, you can secure your finance first so you can choose a new car with confidence, even if you’ve been refused elsewhere. You’ll receive a decision in minutes and if we can find you an approval in principle from our panel of lenders, you can then choose a vehicle from our car search or any reputable UK dealer.

There’s no way to wipe your credit clean but you can improve a bad credit score over time. There are no quick fixes but there are clear steps that you can take to boost your credit rating.

Ways to improve your credit score include:

  • Signing up to the electoral register
  • Paying your bills on time
  • Checking for any mistakes on your credit report
  • Checking your financial links
  • Using a credit building credit card

If you have a marker on your credit report that is impacting your score, like a CCJ or a default, then these can be removed after a few years. Similarly, if you check your report and notice that there’s a mistake, you can raise this with the relevant credit reference agency and have it removed.

Car finance can affect your credit score positively or negatively, depending on the type of borrower you are. You may see your score dip slightly when you first take out a new loan, as you’re adding a large new debt to your file.
However, if you keep up with your repayments, this can help you build credit over time. However, if you miss payments or regularly pay late, this could negatively affect your score.

If you’d like to check your credit score, please use our Clearscore Free Credit Check.

There’s no set credit score that will guarantee you’ll get finance to buy a car. While a low credit score can make it more difficult to find a loan and some lenders may refuse you finance, we work with lenders that specialise in bad credit car finance.

This means that we can help people with poor credit scores find a car finance deal that’s right for them. You can get an estimate of what your monthly repayments might look like if you have a low credit score by heading over to the Car Finance Calculator.

Yes, you can finance a car with a 500 credit score. There’s no set score that can guarantee you’ll get a car loan and no minimum acceptance score; you could even find finance if you have no credit history at all.

A credit score of 500 is considered low or poor by most of the UK’s credit reference agencies and so it may restrict the number of lenders available to you. However, it doesn’t mean you have to give up on finding car finance completely.

At CarFinance 247, we work with a panel of lenders including those who can help people with poor credit scores find and finance their dream car.

We work with a panel of lenders and some do offer car finance options with no deposit – even if you have bad credit.

Speak to your account manager who can let you know how it works and what options are available to you.

You can get a car finance decision in minutes. Make an application, pop the kettle on, and you’ll find out if you’re approved by the time you’ve finished your tea.

If we’ve found you an approval in principle, your dedicated account manager will give you a call to confirm your details and discuss the next steps.

At CarFinance 247, the car finance process starts with a no obligation quote. As soon as we’ve received your online application, we’ll look to find you the best deal from our panel of lenders. If we’re able to find you an approval, your account manager will give you a call to discuss the next steps. They’ll guide you through the process, take care of all the admin, and even negotiate with the dealer on your behalf.

You can choose a car from any reputable dealer or check out our car search – home to over 100,000 used vehicles. We’ll then carry out all the checks, chase the lender, and make sure the dealership is kept in the loop so you can just sign on the dotted line and drive away.

There’s no such thing as guaranteed car finance. There are a range of factors that determine whether you’ll be approved for car finance and every loan offer is subject to circumstances.

We work with a panel of lenders and while we can look for loans for customers with a variety of different credit profiles, we can’t offer guaranteed car finance. If you've found a car finance company that says they can guarantee car finance – especially if you have bad credit – we’d advise treading carefully.

There’s no credit score that will guarantee you can get car finance. But that doesn’t mean you should give up on finding finance if your score could do with some work.

In fact, at CarFinance 247, we’ll look to find you the best deal from our panel of lenders, whether you have excellent, good, fair, or bad credit. We might even be able to help if you’ve had a CCJ, defaults, an IVA or been refused elsewhere.

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* The UK's largest online car finance broker by unique users to the website. Based on Similar Web data – 1,137,647 to CarFinance 247 vs. 753,819 for nearest competitor. January to June 2023.

CarFinance 247 is a trading name of CarFinance 247 Limited. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. (Registration Number 06035525).

CarFinance 247 is authorised and regulated by the Financial Conduct Authority for insurance distribution and credit broking (Firm Reference Number: 653019). CarFinance 247 is registered with the ICO (Registration Number Z1897658).

Finance is subject to status and is only available to UK residents aged 18 and over. Written quotations are available on request.

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