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Can I Get Car Finance with a £1000 Deposit?

Hello, I have a bad credit score due to recently being placed on a payment plan but i do pay that regularly.

I have had a few defaults as my plan advised me to stop paying my creditors resulting in these and i have a deposit of around £1000. I am only looking for car finance of around £2000 - £3000. Do you think i will be accepted?

Asked by Jo

Hi Jo, thanks for your question and apologies for the delayed response.

We do have a few lenders on our panel who help people that have past defaults and big deposits. As you have £1000 deposit i'm sure we could get you approved but you'd need to be able to prove your income with payslips or bank statements which hopefully won't be an issue.

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

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

Liked by 34 People

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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