Do I Need to be Employed to Apply for Finance?

Tim Carpenter
Written by Tim Carpenter

If you’re looking to borrow money, you will always need to demonstrate your capacity for repaying it. At CarFinance 247, we need to see that you are in steady employment and/or have a regular income, in order for your application for car finance to be considered. Remember, we don’t just offer car finance, but finance for vans, motorbikes, caravans and motorhomes too!

If your employment status falls in to one the following categories, then we do have lenders on our panel that may be able to help you to obtain car finance (subject to other factors, such as your credit score, proof of income etc):

Of course, no one is able to guarantee the success of any application for car finance, but having evidence of a regular, basic income (for example from employment or a pension), is a good start to any finance application. For most lenders, this is in the form of pay slips or bank statements.  

With a large panel of lenders on board, we have finance options suitable for those with credit histories ranging from poor to excellent. We are often able to find finance options for people with less than perfect credit histories, including those that have been refused elsewhere. We also have no deposit car finance options available.

Why not use our car finance calculator to get an idea of how much a car loan would cost?

Get a quote
No impact on your credit score
Rates from 6.9% APR. Representative APR 24.9%

Liked by 10 People

5 years
Total cost of credit £ 2000
Total repayment £ 2000
48 monthly
payments of
£ 245 98

Rates from 6.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £6,500 over 5 years with a representative APR of 24.9%, an annual interest rate of 24.9% (Fixed) and a deposit of £0.00, the amount payable would be £181.16 per month, with a total cost of credit of £4,369.52 and a total amount payable of £10,862.52.

Can't find the right answer?

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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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