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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Do you have a question about Carfinance247 or its services? If so, please complete the form below for a response within 1 working hours. I have over 7 years experience working for Carfinance247 and have the responsibility to answer all questions asked.

Car Loan with no proof of income

Hello, I am self employed, have been for a year now. I am a sole trader and my work is all cash work.

I have no proof of income. I am looking for £4000, I have a £1000 deposit and my credit score with experian is 870. Can you help?

Posted by Colin on

Answer.

Hi Colin, as you have a good credit score we may be able to help even though you have no proof of income.

We just need to get you approved with a lender that doesn't require proof of income. This may be possible as your score is 870.

Please apply when you feel ready and we'll be in touch within a few hours. If approved we provide a no obligation quote and you can choose a car from any dealer. Have a good weekend. Edwin

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Question.

I have a very good credit history, always kept up my payments up to date, no late payments, but do not have proof of income. Can i get a car loan?

Posted by Abbas on

Answer.

Hi Abbas, yes we can get you a car loan even though you have no proof of income as you have a good credit history and as long as we get you approved with one of our prime lenders they do not ask for proof of income - just a driving licence and proof of address. However, when you complete the application you'll need to put whatever income you get onto the form. Please apply. Kind Regards, Edwin

Posted by on

Question.

Hi, I'm looking to borrow £12,000 for a car. Have just checked with Experian and my credit score is 999. I have no other credit at the moment. I am self employed with no proof of income but know I can manage the repayments. My monthly income is approx £4000. I wouldn't be able to have a guarantor either and I'm not a homeowner, can you help? Also, I could put down a deposit (if that would secure me the loan), about 5 or 10%. Kat.

Posted by Kat London on

Answer.

Hi Kat, as you have a good credit score we may be able to get you approved with a lender that doesn't require proof of income. The deposit will certainly help and it doesn't matter that you're not a homeowner. As long as you're on the electoral roll at your current address and have a UK bank account we should be able to gain an approval for you. Please apply when you get a moment. Kind Regards, Edwin

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Question.

Hello, Could I get a loan with you? My credit score is 884.

I require a loan of £14000, will have a deposit to add to this of £4000 and a car to part exchange. My income is £3500 plus monthly.

I am a homeowner and am on the electoral roll. What APR do you offer an what is the process?

Posted by Cj on

Answer.

Hi CJ, thank you for your question and apologies for the delayed response.

As you have a good credit score, a large deposit, a good monthly income and due to the fact you're a homeowner i'm extremely confident we'll get you accepted for car finance. The amount you need shouldn't be an issue either.

The APR you receive will depend upon which lender we can get you approved with but i'd imagine it'll be in the region of 10% - 12%. We do have some good deals in place with Hitachi, Santander & Barclays so we may be able to better this.

Once you have made an application and been approved we provide you with a no obligation quote and you can buy a car from any dealer in the UK. Kind Regards, Edwin

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Question.

I have just started up working for myself and had major problems with my van. I need a reliable one.

Is there anyone out there that would let me take out van finance with bad credit and no proof of income?

Posted by Matt Riley on

Answer.

Hi Matt, thank you for your question.

As you have bad credit and no proof of income as such yet we'd struggle to get you a lender that would accept you. Usually when someone has a poor credit history we need to see 3 months payslips of bank statements as proof of income.

Why don't you get together 3 months bank statements while hiring / borrowing another van and we'll then go from there. Please make an application when you're ready and once approved you can choose a van from any dealer and we also provide a no obligation quote. Kind Regards, Edwin

Posted by on

Question.

Hi, I'm looking for car finance. My credit score is fair on Experian at 767.

I have recently ended 2 AP due to a period of unemployment and my monthly income is £2100 after tax and been in a job for 4 months. I have a £4000 deposit and am looking to lend up to £15000 over 48 months preferably on a PCP arrangement. Thanks and regards

Posted by Andrew Wade on

Answer.

Hi Andrew, thank you for your question.

As you're now in employment, have a large income and a fair credit score i'm confident we could get you approved for finance. The amount you earn may limit us to circa £10k-£12k though.

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, Edwin

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Question.

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Posted by Paul edwards on

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