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Win your car finance with CarFinance 247


If you win, we'll pay off the finance on your car. It's that simple! Your car becomes completely yours, free and clear.

This amazing offer is open to anyone who has secured car finance with us throughout 2023, including Decemeber 2023!

This means that there's still time to enter, get your finance in December, and you're automatically in!

The lucky winner will be announced the week beginning 5th February 2024 on our instagram page.

Terms and Conditions apply.

Can I get a car loan with fair credit history?

Hi, i'm from Poland and have lived in London for 5 years at the same address. I'm registered on electoral list and am self employed. I get money on account every two weeks or even once a month. I don't have an English driving licence. My bank account is based with Barclays since 2007 and my credit score is good on experian and stands at 860 points i think. I have never had a loan before just a contract mobile phone. The question is - is it possible to get about £5000 with £1000 deposit or £5000 without deposit on a car. If yes what is apr etc? My average income is about £1800 after tax but i sometimes don't pay my wages in for 2 monts on account. Anyway, let me know if you have any good news for me. Thank you, Robert
Asked by Robert
May 14, 2012
Hi Robert, with a good credit score like you have and the fact that you have £1000 deposit we'll be able to get you approved for car finance and the £5000 you need shouldn't be an issue. We can also help you even though you have an international driving licence :-)
Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 108 People

Get my quote
Rates from 8.9% APR. Representative APR 19.9%




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.

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

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.


Fair credit related questions

Hi, I am looking for car finance for roughly £3500 - £5000. I can obtain a deposit of about £400. Last look at my credit score It was 763. I have an old default which has been settled and is due to be dropped off my credit file in December this year (2012

Asked by Sarah
May 14, 2012

Hi Sarah, thank you for your detailed question. With a fair credit history and a score of over 700 we should be able to get you approved for £3500 to £5000 with no issues at all. The good news is that your default is settled and you've had no missed payments in the last few years. The fact that you also have a £400 deposit and you're employed full time is great news. Please apply when you get chance. Kind Regards, Rachel

Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 7 People

Hi. I am looking to get credit for a new car. I wonder how I will get on. I want to buy a car worth £16700 and put down £5000 deposit. I have a salary of £52k per year. My credit report reads 371 with equifax which I believe is average. I moved house in D

Asked by Liam Simpson
May 14, 2012

Hi Liam, as you have a large deposit, a good income and some current clean credit i'm confident we'd get you approved for the amount you need. Please apply when you get a moment. Regards, Rachel

Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 3 People

Hi, I am looking to get car finance on a BMW worth around £22k. Its called PCP (BMW Select). I have a £5000 deposit to make and the payments are around £280 p/month. My income at the moment is up and down around £800-900 net but in about two


May 14, 2012

We work with a panel of different lenders and some of them are able to help customers with a fair credit history get car finance. We can’t guarantee that we’d be able to help you get a car loan as everyone’s circumstances are different and we’d need to look at your individual details to find out if we can match you to one of our lenders. Get a quote to find out more. Representative APR 24.9% with fair credit.

Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 6 People

Hi, I have a couple of questions about finance for a car for about £5-6k and I can get a deposit of around £1k if needed.

However, I do have a three outstanding defaults. 2 are due to expire in the next couple of months and was for about £20

Asked by Gavin Newb
May 14, 2012

Hi Gavin, thank you for your detailed question!

The good news is that we do have lenders on our panel who help people with past defaults get car finance. As you're self employed we'd just need to see 3 months bank statements proving your income. Hopefully this won't be a problem.

Your credit score does seem quite low however, this may be down to the recent credit searches on your profile so don't worry too much about this. Having a £1k deposit will certainly help matters so please place that down on the application form.

All in all from what you have said i'm confident we could get you approved for £6000 - we can't guarantee but we'll certainly try our best. We also have the most lenders on our panel than the majority of brokers.

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

Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 8 People

Hi, I have recently started my own company. Before that I had a salary more than 70K. Now my company invoices are almost 11k per month. My credit score in last year June was 451, which was good in Equifax record. Now I needed a car loan of 15k. I also wan

Asked by Sam
May 14, 2012

Hi Sam. Many finance companies require that you be self employed for a minimum of 12 months. However here ar CF247 we deal with most lenders on the market and work with many lenders who don't require that. Your credit score is good and I am confident that we will be able to do something for you. Please make an application when you are ready so we can get the ball rolling :) Thanks Rachel

Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 8 People

Hiya, I had a ccj which has recently been removed and now my credit seen by lenders is 683 and credit seen by landlord and employees is 826. I have a defult on my file which was put on my file 3 years ago. I currently drive a 57 corsa which I would like t

Asked by Elizabeth
May 14, 2012

Hi Elizabeth, Thank you for your question. Here at CF247 we deal with most lenders on the market and many of these lenders will finance people who have previously experienced credit issues. We would need to see an application to have a closer look at your profile and assess which would be the most appropriate lender for you. We have been able to secure previous customers in similar situations to yourself up to £25,000. However there is a chance that you will require a deposit. I hope this helps.Rachel
Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 8 People

I have a credit rating of approx 750 (fair) with a minor default (£300 from a student overdraft) I'm looking for a loan in the region of £7000 and have a P/X and approx £1k deposit. I have recently been declined by a high street bank. I dont want to re ap

Asked by Tom
May 14, 2012

Hi Tom, It tends to be harder to get approved for a personal loan from the bank than it is to gain vehicle finance as with vehicle finance the loan is secured against the vehicle so if something were to happen whereby you couldn't make your payments, the finance company would just take back the vehicle. With banks they have no asset to take back. Thus it may be worth making an application with ourselves. We deal with many lenders and have a high acceptance rate. Thanks Rachel
Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 10 People

I have a fair credit rating of 761 but limited credit history. I have only held a bank account for about a month and didn't have one previously. I have a Kia Picanto 2004 model to be traded in for about £1000 in cash. Would i need a guarantor or can i get

Asked by Chelsea Reynolds
May 14, 2012

Hi Chelsea, how old are you? Based on your fair credit score we should be able to help and the fact you have a decent deposit strengthens your chances.
Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 5 People

I have been at my Parents address for 16 years, I have a mobile phone contract and I am on the ER, I have a credit rating of fair but had one default with a mobile phone company in 2008, I am looking at getting around 5k? Do you think you could help? I

Asked by Rory
May 14, 2012

Hi Rory. It is possible to gain finance in your situation, however having no deposit does make it slightly more difficult. All I can suggest is that your put an application through so we can take a closer look at your profile. Kind regards, Rachel
Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 11 People

I have just started paying myself around £55k per year (2 months of payments at 55k, previous payments about £1333 per month) from my Ltd company. I have always lived at the same address, voters roll etc. I have been on time for my credit card payments ap

Asked by David Rawlins
May 14, 2012

Hi David, apologies for the delayed response. I'm not 100% as to whether BMW would accept your application or not as i don't know their underwriting criteria. You may well have a decent chance from what you have said. I am very confident that we could help though as we have many lenders on our panel who help people with the odd past blip on their credit file. As you have a stable residential history, a large income, a large deposit and recent clean credit we'd be able to get you approved. The choice is your but if you apply with us and get approved we provide a no obligation quote and you are free to buy a car from any dealer. Kind Regards, Rachel
Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 9 People

Can't find the right answer?

Our Manchester based team are ready to help you.


* The UK's largest online car finance broker by unique users to the website. Based on Similar Web data – 1,137,647 to CarFinance 247 vs. 753,819 for nearest competitor. January to June 2023.

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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