Can You Get Car Finance if You Have Been Refused a Loan?

Tim Carpenter
Written by Tim Carpenter

If you have poor or bad credit, or you have been refused a loan elsewhere, the good news is that we still may be able to help. In fact, a number of our lenders specialise in helping those with bad credit obtain car finance.

Of course, no car finance is guaranteed, since everything depends on your particular circumstances – such as your age, your employment, your income and the size of the loan you are looking for - as well as your credit file.

However, we have loan options available for a wide range of personal circumstances, including for those that have CCJs on their file, are in an IVA or have previously been bankrupt (now discharged).

Having a regular, basic income is something our lenders will look to see from any finance applicant. This can come from a range of employment types, for example we can help if you are self-employed, a part-time worker or an agency worker.

We do have no deposit car finance options, but if you do have a deposit or a part-exchange available, you can use this to reduce the total amount borrowed (subsequently reducing your monthly repayments).

Even if you have been declined for a car loan elsewhere (such as from a bank, a car dealership or even another car finance broker), the good news is that we do work with lenders that specialise in bad credit car finance, so still may be able to help.

Remember, though, that the repayments are still your responsibility and if you default on them your credit rating will be adversely affected and future borrowing become still more difficult.

At CarFinance 247, it isn’t just a car that you can finance! We can offer finance on vans, motorbikes and motorhomes too.

Get a quote
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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