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Can I Get Car Finance if I'm in a Debt Management Plan?

Tim Carpenter, Dedicated car finance expert
Written by Tim Carpenter
Edited on

If you are currently - or have recently been - in a Debt Management Plan (DMP) or a Debt Relief Order (DRO), then, in general, you may find it difficult to get accepted for finance.

At CarFinance 247, however, we work with lenders who specialise in advancing car finance for people in a DMP or DRO. This means that whether you want to buy a car, van, motorbike or caravan, we may still be able to help. We can even help people that have been refused elsewhere.

Upon receiving your application for finance, we would search our large panel of lenders to find the most suitable loan option for you – and at the best possible rate. As we work with a number of lenders that specialise in bad credit car finance, we are able to help customers in varying credit situations and are able to offer very competitive rates.

As well as your credit history, finance providers will look at a number of other aspects of your personal circumstances to work out feasibility of the loan. This includes income and employment, but we can find finance options for a range of circumstances, including being self-employed, a student or retired.

Get a quote No impact on your credit score

Rates from 6.9% APR. Representative APR 27.4%

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Tim Carpenter, Dedicated car finance expert
Tim Carpenter Car Finance Expert
5 Years
Total cost of credit £ XXX.XX
Total repayment £ XX,XX.XX
48 monthly
payments of
£ 245 98

Rates from 6.9% APR: the exact rate you will be offered will be based on your circumstances

Representative example: borrowing £6,500 over 5 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £188.74 per month, with a total cost of credit of £4,824.37 and a total amount payable of £11,324.37

Rates may differ as they are dependent on individual circumstances. Subject to status.

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