Representative example: borrowing £7,500 over 4 years with a representative APR of 35.0%, an annual interest rate of 35.0% (Fixed) and a deposit of £0.00, the amount payable would be £271.74 per month, with a total cost of credit of £5,543.71 and a total amount payable of £13,043.71.
A guide to bad credit car finance
If you've struggled with debts in the past or you've found yourself missing payments, you may have bad credit. And this might mean when it comes to looking for car finance, you're worried about your chance of getting approved. That's where we step in.
How to get car finance with bad credit
We understand that it isn't always easy to have a perfect credit score. That's why we have car finance options available for customers with a range of credit histories — which includes offering bad credit loans.
If you've had CCJs, mortgage arrears or late payments, you don't need to assume that your dream of buying a new vehicle is over. The same applies if you're in a debt management plan or have an IVA — you might find that we have a finance option that suits you.
Been refused car finance elsewhere? This doesn't mean we won't be able to help and we'll try our best to find a car finance deal tailored to your needs.
We always recommend that customers take a look at their credit profile to make sure that everything on there is correct and up to date. There are hints and tips on there too that can help you to work on improving your credit history in the future.
One thing to bear in mind is that if you've not had any form of finance before, there will be a lack of credit history for the lenders to view. This is because you'll have no borrowing to your name. As prospective lenders can't see any strong track record of reliable borrowing, they may see this as a risk.
We're not here to judge. We've helped many customers in similar situations to get car finance with bad credit, and we're here to help you drive away in your next vehicle.
Keeping up with repayments on your bad credit car loan could help you to rebuild your credit score in the long term, opening up more finance options to you in the future!
How we could help
We get to know you — from finding out how long you'd like to take the loan out over, to making sure the proposed monthly repayments are affordable and within budget.
You could also explore no deposit car finance options with us too!
Once we’ve approved an application, we provide a no obligation car finance quote. Each customer has their own dedicated personal advisor on hand too, and they'll help with any questions you may have.
If you’d like to get an estimate of repayments, take a look at our handy car finance calculator tool.
What we need from you
A number of our lenders specialise in providing poor credit car loan options, and the documents that they need from you can vary. As a minimum, we’d need:
- Proof of licence
- Proof of address
- Proof of income
If you’re self-employed, you may worry that the combination of this and having bad credit may mean that you can’t get approved for car finance. This doesn’t have to be the case however, and we do have lenders that can help people that are self-employed with bad credit to get a car loan, subject to approval.
Once you’re approved, it’s time for the fun part! You can choose your vehicle from any reputable UK dealership and we’ll give you access to our exclusive car search which is there to help you to find the perfect car for you.
Frequently asked questions
There are many finance options out there for customers with bad credit. We work with a number of lenders that specialise in helping those with poor credit to get car finance, so you could be driving away in a matter of days. We look at each application we receive individually to make sure that we're looking for a finance option that suits you. As we mentioned, it's not always a case of having a history of missed payments that can cause a low credit score. Perhaps you're buying your first car and you've never taken out any form of finance before? Nevertheless, there may still be car finance options for you and we'd love to help you to get behind the wheel.
Yes, there are many lenders out there that can help customers with bad credit to get car finance, and we do work with a number of them. All finance providers have different lending criteria that they need applicants to meet and that's where we come in. It's more than just your credit score we look at. We look at your individual circumstances to see what finance options are available for you, matching you to one that suits your needs.