Refused
Car Finance

Car Loans | CarFinance 247
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No impact on your credit score
Rates from 19.9% APR. Representative APR 27.9%
Car Loans | CarFinance 247
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Representative example: borrowing £6,500 over 5 years with a representative APR of 27.9%, an annual interest rate of 27.9% (Fixed) and a deposit of £0.00, the amount payable would be £190.26 per month, with a total cost of credit of £4,915.46 and a total amount payable of £11,415.46.

We look to find the best rate from our panel of lenders and will offer you the best deal that you’re eligible for. We don’t charge a fee for our service, but we do earn a commission. This does not influence the interest rate you’re offered in any way.

Can I get car finance if I’ve been refused elsewhere?

There are few worse feelings than falling in love with your dream new wheels and losing them because your finance is refused. It can be frustrating, upsetting, and embarrassing. But just because you’ve been refused elsewhere, it doesn’t have to be the end of the road. Here at CarFinance 247 we work with a panel of lenders, which means we can look to find the best deal for you, even if you’ve got bad credit or have found it tough to get car finance in the past. And when you get your car finance sorted first, you can head to a dealership and choose a car with confidence.

Why has my car finance been refused?

Here at CarFinance 247 we work with a panel of lenders, which means we can look to find the best deal for you, even if you’ve got bad credit or have found it tough to get car finance in the past. Watch this short video to find out more.

What can I do if I’ve been refused car finance?

If you’ve been refused car finance, the first question you’re probably asking yourself is why. There’s no harm in asking. Depending on the circumstances and lender, they might be able to tell you why they weren’t able to help this time. It could be that you need to work on your credit score, you’ve chosen a vehicle that falls outside their criteria, or you made a mistake on your application.

Wait before making another application if you can. Each time a hard credit search is conducted it leaves a mark on your credit file and having too many hard searches in a short time could make it more difficult for you to get finance in the future. But if you can’t wait and need to get back on the road as soon as possible looking at a cheaper car could increase your options.

Bad credit holding you back? A struggling credit score doesn’t have to stay that way. Taking small steps to improve your credit score can really add up over time.

Why have I been refused?

There’s no such thing as guaranteed car finance and there are many reasons why a car finance application can be refused – it’s not all about your credit score. You might have made a mistake on your application form, entered the wrong postcode, or mistyped your phone number. Maybe you’ve recently changed job, experienced a period of unemployment, or had a few slow months as a self-employed worker. Or maybe the lender you’ve applied to can’t finance the type of car you’ve chosen.

Credit scores can play a part. It’s good practice to check your free report regularly to make sure the information is correct. Having a history of missed payments or financial ties to someone with a bad credit history could also increase the chance of being refused car finance. And if you’ve never borrowed money before and don’t have much of a credit profile at all that could limit the number of lenders who can help too.

Can you help if I’ve been refused finance and have bad credit?

The short answer is yes! If you’ve been refused elsewhere because of your credit score, we could still help. We work with a panel of lenders, which means we can find finance deals for people with a variety of different circumstances. We could even help if you’ve had a CCJ, default or IVA in the past.

Get a quote today – with no impact on your credit score.

Why come to us if you’ve been refused car finance?

For us, car finance is all about helping people improve their everyday lives.

Whether you need new wheels for the school run or you’re looking to upgrade your daily commute, we’ll look to find you the best car finance deal from our panel of lenders.

Plus, you’ll have a dedicated account manager on hand to help you through the process and speak to the dealership on your behalf.

What’s next? How to apply for car finance

It all starts with a quote. If you’re approved in principle, we’ll give you a call to talk through your options. Your account manager can answer any questions you have and grant you access to our car search – a treasure trove of over 130,000 used cars ready and waiting to find a home. Found a car somewhere else? We can still help – just let your account manager know.

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Applying with us only takes a couple of minutes and won't affect your credit score

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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. 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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