Bad Credit Car Finance

Bad Credit Finance Specialists

Do you have bad credit? If so we could help you get the finance you need. We have helped over 80,000 customers who have had limited credit histories or low credit scores to secure finance for their next car purchase.

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How does Car Finance work if you have Bad Credit?

Hire purchase car finance is one of the most common types of finance for people who may have bad credit. You hire the vehicle and make monthly repayments until you have paid off the amount you have borrowed.

It is a suitable way to pay for a vehicle based on your credit profile so you can get affordable monthly payments that suit your budget.

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How to secure car finance if you have bad credit

  • Missed payments or arrears? – We are happy to consider finding suitable car finance to people who have missed payments or have a bad credit rating. If you have fallen behind with repayments on your current credit agreements, we would advise you ensure the repayments are up to date before you apply for car finance in order to improve your chances of being accepted for car finance with bad credit.
  • IVA’s – Do you currently have an IVA? If so, we would require written authorisation from your Insolvency Practitioner that they are happy for you to borrow again. If you have had an IVA in the past which has been settled, then you are welcome to apply for car finance.
  • Bankruptcy – If you are currently in bankruptcy, unfortunately, we are unable to help at the present time. If your bankruptcy has been discharged, then we will be happy to process and consider your application when you apply for Car Finance.
  • CCJ’s – If you have an outstanding CCJ, that does not mean you are unable to get car finance as you can still apply with us and your application will be reviewed.

As with all types of loan and credit agreements, there are some risks. The finance is secured on the vehicle, so if you don’t keep up with the monthly repayments, you may be at risk of repossession. Failure to make payments can also damage your credit report.

Apply for a transparent, affordable loan with our 1 minute application process.

Helpful advice for applying for finance if you have bad credit:

  • Try to make sure that all unsettled credit is going down and regular payments are being made on time.
  • Ensure all debts are registered in the correct name by contacting your existing creditors to check and update your details.
  • Make sure you are on the electoral register. If you are not currently registered, or are unsure whether you are, visit AboutMyVote for advice on how to register.
  • Finance lenders like to see long-term employment history, long-term record with the same bank and long-term living in one place.
  • Providing a deposit can help with the application so if you are able to provide one then it is advised you do so but we can help people who may not be able to use a deposit.
  • For more advice on bad credit and debt management services available to you why not visit the Money Advice Service for useful information.
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So what do you need to do?

Simply apply online by completing the application for finance and a sales agent will be in touch to take you through the next steps.

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