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Bad credit car finance

July 2019

 

A guide to bad credit car finance

People run into trouble and sometimes struggle with debts.  In the past you may have found yourself missing payments or even getting into arrears on loans, you may have bad credit.

This may cause you difficulties when looking to buy a car on finance, some lenders won’t accept customers without a perfect credit score which is where the Car Firms Car Finance can help.  The underwriters we work with understand not everyone has a perfect credit history, which is why we can help.


How to get car finance with bad credit

We offer car finance options that are available to customers with a wide range of credit histories which includes offering bad credit loans.

If you've had CCJs, mortgage arrears or late payments, you don't need to assume that your dream of buying a new vehicle is over.

This also applies if you are in a debt management plan or have an IVA, we might have a finance package that suits.

If you have been refused car finance elsewhere that doesn't mean we won't be able to help as we have a team of finance professionals who can help with “bad credit car finance”, which can also help repair your credit score.


How do we help if you are looking for Bad Credit Car Finance?

We always recommend that customers take a look at their credit profile to make sure that everything on there is correct and up to date.    Most reports give tips that can help you to work on improving your credit history in the future.


We get to know you.
Discuss your credit history and look at budgets and monthly repayments for your new car.

We can explore deposits and no deposit car finance options.

Once we have approved an application, we provide a no obligation car finance quote. Each customer has their own dedicated personal advisor on hand too, and they'll help with any questions you may have.

If you’d like to get an estimate of repayments, take a look at our handy car finance calculator tool.


What next

A number of our lenders specialise in providing poor credit car loan options, and the documents that they need from you can vary.  Some will require the list below as a minimum

  • Proof of licence
  • Proof of address
  • Proof of income

Self-employed customers often worry that the combination of this and having bad credit may mean that you can’t get approved for car finance.  This is not necessarily the case as we do have lenders that can help people that are self-employed with bad credit to get a car loan, subject to approval.

Once approved,

You can choose your vehicle from any reputable UK dealership and you could be driving away within days.

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