Will I get car finance if my partner has a low / bad credit score

Hi, I am looking to get car finance of around £7000 I have an experian credit score of 982 but my partner (we have a joint bank account) has a very low score off 532. This is only because she paid for a course on a monthly payment scheme, cancelled it with 1 month left and thought that she wouldn't have to pay anymore because she wasnt attending the course. However a few months later a letter came through saying she had defaulted we paid this off straight away. Will this go against me I have also been out of work for 4 months but have recently found new employment. Regards Nick

Asked by Nick W
December 2, 2012

Hi Nick, thank you for your question and apologies for the delayed response.

Your partner's poor credit won't effect your chances of being approved for a car loan at all. You may need to provide proof of income from your new job (payslips or bank statements) but as long as you can do that we should be fine to secure you the £7000. Would you have a deposit at all? Just to be clear - the lenders that we deal with can look at just your credit without taking associates into account.

I hope this helps and i look forward to receiving your application. Regards, Rachel

My monthly budget is

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Rates from 8.9% APR. Representative APR 19.9%

My monthly budget is

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Rates from 8.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £10,000 over 5 years with a representative APR of 19.9%, an annual interest rate of 19.9% (Fixed) and a deposit of £0.00, the amount payable would be £255.50 per month, with a total cost of credit of £5,329.80 and a total amount payable of £15,030.

We look to find the best rate from our panel of lenders and 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.

Amount to borrow

To pay over

5 years

Assuming your credit profile is:

Total cost of credit	£ 2000
Total repayment	£ 2000

48 monthly
payments of

£ 245 98

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Rates from 9.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £25,000 over 48 months, £3,750.00 deposit, on PCP, with annual mileage of 8,000pa, and a representative APR of 11.9%, an annual interest rate of 11.9% (Fixed), the amount payable would be £394.51 per month, an optional final payment of £7,194.33, with a total cost of credit of £9,912.36 and a total amount payable of £28,444.33.

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.

Credit scores related questions

Hi, i have bad credit from many years ago that i fear is still haunting me on my file. I am in full time employment and have been working for same company for 12 years. My salary is ok. I have lived at same address for over 32 yrs. Looking for approx £750

December 2, 2012

There is no set credit score that will guarantee you’ll be approved for car credit. But that doesn’t mean you need to give up on finding finance if your score could do with some work. In fact, we’ll look to find you the best deal from our panel of lenders, whether you have excellent, good, fair, or bad credit.

Thanks to our panel of lenders, we can find finance for people with a variety of different credit circumstances, even if you’ve had a CCJ, defaults or been in an IVA in the past. We might even be able to help if you’ve been refused elsewhere.

Find out more about bad credit car finance.

What is a credit score?

Your credit score is just one of the factors lenders use to find out what kind of borrower you’ll be. It’s a three-digit number that reflects your borrowing history and financial habits. Typically, the higher your credit score, the more likely it is that you’ll be approved for car credit.

There are three credit reference agencies in the UK and each one calculates your score differently. Each lender has its own definition of a good score too. That’s why there’s no universal number that can guarantee you’ll find car finance.

Learn more about credit scores here.

How can I improve my credit score

The good news is that your credit score isn’t fixed, and you can take steps to increase it. There are no quick fixes though and be cautious with any companies that claim they can improve your credit score instantly.

Getting in the habit of checking your credit score regularly is a good place to start and can help you spot and correct mistakes quickly. If you can, paying your bills on time, not maxing out your credit cards, and not applying for finance from many different places at once can all help too. Finally, register on the electoral roll – it’s free, takes minutes to do, and should be on your to-do list every time you move home.

Been refused finance this time? Your credit score plays a part, but it might not be the reason why you’ve been refused.

I have noticed a great discrepency between the two companies. Experian has my bank details, past credit and my electoral roll details but despite sending letters and a copy of my experian statutory report Equifax have only my Virgin media account on my pr

December 2, 2012

In the UK, there are three main credit reference agencies – Equifax, Experian, and TransUnion. Each of these agencies has a different scoring system and uses different information to determine your credit score. It’s not unusual for your score to be different with each of these agencies.

At CarFinance 247, we work with a panel of lenders who use different credit reference agencies to determine whether they can approve you in principle. As you can’t be certain which of the three agencies your lender uses, it’s good practice to check your credit score at all three. This can be done for free by heading to Credit Karma (which uses TransUnion data), ClearScore (which uses Equifax) or Credit Club from MoneySavingExpert (using Experian data).

Find out more about credit reference agencies here

Hi, I have a credit rating of 605 and have one defaulted account of £400 from last year which was settled last year. I have a deposit of £1000, I also make around £1600 - £2000 a month, and was looking at a car around £5000. Do you think I'll have a chanc

Asked by Danielle
December 2, 2012

Hi Danielle, as you only have one small default that is now settled and you have a good income and large deposit i see no reason why we won't be able to get you approved. The fact that you're on the electoral roll and have some other forms of clean credit is great to see too. Please apply when you're ready. Kind Regards, Rachel

Hi, I have an experian credit score of 649 and on the up as my finances are getting a lot better.

I earn £28k per annum and am looking for approx £5k. Would you be able to help and what sort of interest rate would I be looking at? Thanks fo

Asked by James shaffer
December 2, 2012

Hi James, thank you for your question.

As you have a fair score and you say you're financial situation is improving i'm confident we can help. You also have a good income and are after a sensible amount. The rate you receive will purely depend upon the lender we can get you approved with.

Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Rachel

Hi, I have an Experian credit score of 868 and need about £9000 to buy a replacement car. I'm on about £1300 per month, live with my parents and am on the electoral role.

I have one defaulted account for about £400 from 3 years ago, I don't

Asked by Jack Lloyd
December 2, 2012

Hi Jack, thank you for your question.

As you only have a few blips on your credit profile and an old default for a small amount i doubt this will prevent us from securing you car finance.

The only stumbling block may be the amount you need. On £1300 monthly income we may only be able to get you circa £7000 but this all depends upon which lender we can get you accepted with.

Please make an application and once approved you can choose a car from any dealer and we also provide a no obligation quote. Kind Regards, Rachel

Hi, I have an experian credit score of 710, I have 2 ccjs which were both paid before it got to court, one five years ago and one three years ago, I have three defaults also from five years ago, I have sent settlement letters to registry trust to try and

Asked by John
December 2, 2012

Hi John, Your credit score is quite high in light of your ccjs/defaults. The amount you are looking for is definitely achievable given your circumstances. From what you have told me I am confident we will be able to help you as you are clearly showing intent to improve your credit profile. Please make an application so we can see what would be the best option for you. Thanks, Rachel

Hi, I was made bankrupt 3 years ago due to debts incurred when my father died and we had to cover funeral costs, I believe I am now discharged and my experian rating is 977, I have no loans or credit right now. I don't want to apply for credit and get tur

Asked by Dave K
December 2, 2012

Hi Dave, thank you for your detailed question. Your credit score does seem good but as you have no active credit (and past bad credit) we may struggle. I'm confident we can get an approval but i can't guarantee anything at this stage. Are you on the electoral roll? If so, this further increases our chances. The fact that you have a part ex and cash deposit certainly increases your chances of getting the amount you need. It's your decision Dave but i am quietly confident. That's all i can say now. Rachel

Hi. I have a current credit score of 359 which is very poor through no fault of my own. I've basically had my identity stolen & used to take out serveral payday loans. Wonga & quick quid. I'm in the process of dealing with it however I'm in desperate need

Asked by Nikita
December 2, 2012

Hi Nikita, I am sorry to hear of your situation, however there may be something we can do to help. However you would need to make an application so we can assess your credit profile before we can be sure. Please provide me with your reference number when you have filled one out and I will be able to advise. Thanks Rachel

I have a bad credit rating of 374 (trying to get incorrect info removed). I earn £30,000 and am on the electoral roll but if I make an application for car finance through you how many credit searches will appear on my credit file and will I have endless p

Asked by Jay Thomson
December 2, 2012

Hi Jay, to answer your question we conduct a minimum of 1 and a maximum of 3 credit searches when trying to obtain car finance for you. The first credit search is conducted by ourselves to ascertain whether we can get you approved or not. If we think we can we'll then propose you to 2 of our poor credit lenders to get a decision. As you have a good income and are on the electoral roll this will go in your favour. You will not be called by any other debt management companies either. You will only be called / receive a letter f you are approved. Rachel

I have a bad credit score and am not on the electoral roll. But would my girlfriend be able to get te car in her name? She's on the electoral roll and has a part time job. We would have a deposit of £2400 and need another £2600. She doesn't have a driving

Asked by Michael
December 2, 2012

Hi Michael, your girlfriend can't apply as she doesn't have a licence. However, as you have a large deposit i'm relatively confident we can get you approved for finance even though you have a bad credit history. Please apply and we'll go from there. Kind Regards, Rachel

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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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