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

Tim Carpenter
Written by Tim Carpenter

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.

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No impact on your credit score
Rates from 6.9% APR. Representative APR 27.4%

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* The UK's number one online car finance broker by unique users to the website. Based on Hitwise data – 1,746,657 to CarFinance 247 vs. 666,020 for nearest competitor. January to December 2019.

96% of our customers recommend us: † Based on feedback left on independent review site Reviewcentre. May 2019.

CarFinance 247 is a trading name of CarFinance 247 Limited, a credit broker and insurance intermediary, and 247 Money Group Limited (247 Money), a lender. Both companies are part of the 247 group of companies.

CarFinance 247 is authorised and regulated by the Financial Conduct Authority under reference number: 653019. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. Company registration no. 06035525. Data Protection Registration Number Z1897658.

247 Money is authorised and regulated by the Financial Conduct Authority. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. Company registration no. 10989530. Data Protection Registration Number ZA456831.

All finance is subject to status and income. Written quotations on request. CarFinance 247 can introduce you to a limited number of finance providers, including 247Money, based upon your credit rating and will receive commission for such introductions.

† We do not charge a fee for arranging the finance, however some of our lenders may charge a fee. Your account manager can provide more information on this

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