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Car Finance Expert Q&A

Hi, I'm Edwin and I'm here to help you!
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Edwin Miles. Underwriting Manager

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VW Polo finance for stay at home mum

I am currently looking into buying a VW polo which I have seen for £6000. I am not working right now as I am a stay at home mum, and I also don’t have a deposit saved up. My credit score is 890 on Experian – though I’m not really sure what that means? I have paid a couple bills a little late before but nothing major, and have been in the same address for the last 10 years. Do you have a rough idea what my monthly repayments may be if I take out a loan over the course of about 3 years?

Posted by Flo on


Hi Flo, thanks for the question!

A credit rating of 890 is good, so we can definitely try our best to find you a lender offering competitive rates for car finance. Many of our lenders do not require a deposit, so if you don't have one saved up isn’t a problem.

The fact that you are not working leave shouldn’t hinder you application too much. Provided you can afford to make your payments we may still be able to help. When you make your application, please just put a note of all income (including benefits payments) on the form so we have a good idea of your current circumstances. As you do have a good credit history we may not even need to see proof of income, however we do have lenders that would be able to help you regardless.

A rough estimate of Monthly payments would be £191 per month, for a £6000 loan over 36 months. For applicants like yourself with good credit, we have loans available with rates as low as 9.7%! For more of a breakdown you can visit our car finance calculator tool yourself. And if your application is approved, we can get back to you with a more concrete amount over your chosen timeframe.

Please make an application when you're ready and if approved we provide a no obligation quote and you can buy a car from any reputable dealer in the UK. Kind Regards, Edwin

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