Bad credit
car finance

If you have bad credit, securing car finance can be challenging. At CarFinance, we specialise in providing bad credit car finance solutions, helping you get behind the wheel of your dream car, regardless of your credit history.

How does bad credit car finance work?

Bad credit car finance is for those with poor credit histories. It allows you to secure the funds needed to buy a car, even if traditional lenders turn you down. At CarFinance, we work with specialist lenders who understand that a less-than-perfect credit score doesn't reflect your future repayment ability. We assess your circumstances and connect you with the lender that best suits your needs.

How do I understand I have a bad credit score?

A bad credit score is typically considered to be a credit score that falls below a certain threshold, which varies between different credit reference agencies and lenders.

Can I get car finance with bad credit?

Absolutely! At CarFinance, we make car finance accessible to everyone, including those with bad credit. We understand that unexpected financial challenges can impact your credit score. Our bad credit car finance solutions are tailored to help you overcome these hurdles.

We look beyond your credit score to understand your current financial situation and repayment capability. Our team will guide you through the application process, providing personalised support and advice. With CarFinance, you can confidently move forward and drive away in your ideal vehicle.

Can I get car finance with no credit history?

Yes, you can! Having no credit history can be as challenging as having bad credit. Traditional lenders may hesitate to offer car finance without a credit track record. However, CarFinance specialises in helping individuals with no credit history secure car finance. We understand that everyone starts somewhere, and we're here to support you in building a positive credit history.

Why do I have a bad credit score?

A bad credit score can be caused by several reasons:

1. Missed payments: Failing to make timely payments on loans, credit cards, or bills can lower your credit score.
2. High credit card balances: Holding high balances on your credit cards, especially relative to your credit limit, can negatively affect your credit score.
3. Frequent credit applications: Applying for multiple loans or credit cards in a short period can harm your credit score, signalling financial instability.
4. Defaults: Failing to repay a loan or credit agreement as agreed can lead to a bad credit score.
5. County Court Judgments (CCJs): Having a CCJ issued against you for not repaying debts can significantly impact your credit rating.
6. Bankruptcy: Going through bankruptcy severely affects your credit history.
7. Limited credit history: Having limited or no credit history can also result in a lower credit score.
8. Rejections for credit: Being rejected for credit can signal to other lenders that you’re a higher risk, potentially further lowering your credit score.

Is it more difficult to get car finance because I have bad credit?

Having bad credit can pose challenges, but it doesn't make securing car finance impossible. At CarFinance, we specialise in helping individuals with bad credit find suitable finance options. We conduct a personalised assessment of your current financial situation, focusing on your unique circumstances and needs rather than just your credit score.

By working with a network of specialist lenders who prioritise your ability to repay now, we significantly improve your chances of approval. Our dedicated team guides you through the process, offering support and advice to secure the best possible deal. We ensure you fully understand the terms of your finance agreement, avoiding any surprises.

With CarFinance, getting car finance with bad credit becomes less difficult and more straightforward, helping you drive away in your ideal vehicle while rebuilding your credit history.

What documents do I need to apply for a bad credit car loan?

When applying for a bad credit car loan with CarFinance, you'll need to provide a few essential documents. These documents help us understand your financial situation better and assist us in finding the most suitable lender for you. Here's what you'll need:

• Proof of Identity: A valid photo ID, such as a passport or driving licence.
• Proof of Address: A recent utility bill or bank statement displaying your current address.
• Proof of Income: Bank statements, payslips, or any other documentation that verifies your income.
• Employment Details: Information about your current employment status and employer.

Providing these documents will expedite the application process and increase your chances of securing a bad credit car loan with CarFinance.

Why come to us to apply for car finance with a bad credit score?

When you choose CarFinance, you're getting more than just car finance; you're getting a partner committed to improving your financial situation. We offer competitive interest rates, flexible repayment options, and a variety of vehicles to suit your needs.

Car finance for unemployed and people on benefits

Everyone deserves the opportunity to own a car, regardless of employment status or benefits. CarFinance provides options for individuals who are unemployed or receiving benefits.

Self-employed car finance

Self-employment can complicate securing traditional car finance. At CarFinance, we understand the unique financial situations of self-employed individuals and provide tailored solutions.

Bad credit finance with no guarantor

Not having a guarantor shouldn't stop you from securing car finance. CarFinance offers options for those without a guarantor to support their application.

IVA car finance

An Individual Voluntary Arrangement (IVA) can impact your credit score. CarFinance specialises in providing car finance solutions for individuals in this situation.

Car finance for bankruptcy

Even if you've been through bankruptcy, CarFinance can help you secure car finance. We understand that financial difficulties can happen to anyone and are here to support you.

Car finance with CCJ

A County Court Judgment (CCJ) on your credit file can make securing car finance challenging. However, CarFinance works with specialist lenders who consider applicants with a CCJ on their record.