Bad Credit Car Finance

Whatever your personal circumstance, We Finance Any Car’s specialist lenders are here to support you with bad credit car finance.

If you have poor credit or incomplete credit history, being accepted for car finance can seem out of reach. The good news? At We Finance Any Car, we cater for a range of car finance solutions, helping customers purchase the car of their dreams every day.

Finding the best deal can be a stressful and complicated process. We are here to help you navigate the world of car finance, taking away the hard work and leaving you to enjoy your new car. Whether you’re in need of a trusty companion for the daily commute or looking for a vehicle to fit the whole family, car finance can be life-changing for many. You can rest assured that we will get you the best rate possible.

Been turned down elsewhere? Our lenders review all applicants, regardless of background or previous experience with car finance applications. Although we cannot guarantee approval, we go the extra mile to ensure you are at least considered.

How Does it work?

Our process is simple. Once you’ve completed our 2-minute application and been successful, one of your friendly account managers will be in touch. To protect your credit rating, we use soft search lenders (in the first instance).

If you have already found a car – great! You can secure finance and get behind the wheel in no time at all. If you’re still searching, we can help with that too! Once you have applied and been provisionally approved, you will receive access to hundreds of thousands of cars from FCA approved dealers, so you’re sure to find your perfect fit with We Finance Any Car.

What you can expect from our bad credit car finance service:

End-to-end support
Straightforward and safe application
Extensive selection of specialist lenders
Reputable and FCA authorised dealers
Team of industry experts
Flexible terms
Affordable payment plans

It couldn’t be easier to get started – fuss-free car finance is a click away.

We help hundreds of applicants secure car finance with bad credit, you could be next…

It’s unlikely that you’ll find traditional lenders advertising ‘bad credit’ car finance. This is because lenders will typically prioritise applicants with a strong credit score and who are viewed as lower risk (on paper).

But is it still possible for bad credit applicants to be approved? With us, absolutely!

Our specialised approach means we can offer car finance to those who may not be able to secure it elsewhere. And because we work with reputable bad credit lenders, we’re able to help you get the car you want with an affordable payment plan.

Simply submit a quick application and we’ll be in touch.

All circumstances considered, no deposit needed

There can be any number of reasons you may be experiencing bad credit, and no two circumstances will be the same.

Your credit score is reflected as a number on your report, so it can be easy for lenders to dismiss applicants without a second glance. Alternatively, they may charge a higher interest rate (one that isn’t always feasible).

At We Finance Any Car, our team will work closely with you to understand your financial situation and needs. From there, we’ll be able to find the right solution for you.

And you won’t even need to pay a deposit.

We understand that not everyone will have the budget to pay a large amount upfront. And if you’re struggling with bad credit, this can hold you back. That’s why we offer no deposit car finance.

Simple to apply, fewer financial hurdles.

Can we guarantee car finance?

Although we are in the best position possible to support you with car finance, we aren’t able to guarantee a deal.

You may have seen the term guaranteed car finance floating around. Don’t fall for it! There’s always an element of risk involved, meaning lenders will use a set of criteria to review your application. This is the same whether you have a good credit history or have experienced financial difficulties.

As responsible credit brokers, we ensure full transparency, always.

So, while we can’t offer guaranteed car finance for bad credit, we can help to improve your chances of approval. Even if you have a default on your credit report, we’ll still be able to help.

How to get car finance with bad credit

When comparing car finance deals, there are a few things to bear in mind.

The first is the APR. This will give you an idea of the overall cost of your loan and whether it’s within your budget. Then there’s the loan term and how it affects your monthly payments.

Don’t worry, we’ll be able to support you with expert advice and guidance.

Choose a car that suits you and the lender

We want you to get the best deal possible. So, choose your car wisely.

It needs to be something that you can comfortably afford
It needs to be reliable and from a reputable dealership (we can help you with this)
It needs to meet the minimum requirements (these should be made clear by the lender)
It needs to meet your driving needs (whether that’s plenty of space in the boot or a car that is reasonably fuel-efficient)

New or used?

When choosing your next car, another factor to consider is the condition. A used car will likely have a lower price tag, however a newer car may require less maintenance and save you money in the long run.

If you have a bad credit rating, it’s important to find the right balance between your immediate budget and long-term finances.

Something on the cheaper side may improve your chances of financial approval and put you in a good position to repay the loan. But you also need a dependable car for the everyday.

Not sure where to begin? We have a wide range of new and used cars to explore.

Types of bad credit car finance – what are your options?

Our finance solutions are designed to get you behind the wheel quickly and at an affordable price. There are two main types of car finance, offering slightly different payment options:

Hire Purchase (HP)

Despite some misconceptions, you can still secure Hire Purchase with bad credit.

This is a straightforward solution that enables you to spread the full cost of the car over the duration of your loan term. With no final balloon payment, you’ll simply become the owner at the end of the contract.

Personal Contract Purchase (PCP)

Offering more flexibility, Personal Contract Purchase car finance gives you a few options. Once you’ve completed your loan term, you can either hand the car back, upgrade it, or make a final payment to own it outright.

Although this may be a little trickier to navigate for those with a poor credit rating, it’s by no means impossible.

A few things to be aware of before applying:

Interest rates: Generally speaking, a low credit score is viewed as a higher risk to lenders. This may result in higher interest rates and fees, increasing the overall cost of your finance deal.

Loan terms: To reduce the amount of risk, lenders may shorten the loan term. This means you will have to factor higher monthly payments into your budget. The terms may also be limited, restricting your flexibility.

Credit checks: Although our lenders complete an initial soft search check, your credit report will need a more thorough review once you’ve been approved. One thing to remember is that the impact on your score will be temporary.

Potential impact on your guarantor or joint hirer’s credit score: If you miss a payment or are unable to complete the loan term, the other person on your plan will be affected.

Applying for car finance can be daunting, but with our specialist support, you could be just a click away from the car of your dreams. And with an achievable payment plan, your credit score should start to improve – as long as you meet the monthly deadlines!

Finance a car with bad credit today. It’s not as scary as it looks, trust us.

Refused Car Finance? Let us help!

Your bad credit car finance questions answered

We recognise that car finance can be confusing, with enough abbreviations to make your head spin. But it can also mean the difference between bagging your dream car and finding yourself without a mode of transport.

That’s why we have made the process as simple as possible, helping you get to grips with the various types of car finance available. No waffle. No hidden surprises.

Still unsure? Our team of experts are always on hand to answer any questions or queries you may have.

My Credit History isn't great - can you help me if I have bad credit?

Yes, there is a good chance that we can help you. When we set up We Finance Any Car we wanted to serve the whole market. We know that things happen in people’s lives and that your credit score can sometimes be negatively affected – often through no fault of your own. That is why we work with all types of lenders from Prime lenders through to those that focus on people who have poor or bad credit. Remember that we only use soft search up front to protect your credit score.

What can I do if I have been refused for bad credit elsewhere?

There are a number of reasons why you could have been declined elsewhere. In most cases it is because of adverse credit also known as a bad or poor credit file. Do not despair though, very few organisations have as many lenders as we do. We often speak with customers who have been rejected at car dealerships only to get a number of approvals from our panel of lenders. A key consideration is if the lender or panel of lenders you apply through use soft search we use soft search to protect your credit score in the first place so why not Apply here today.

How can I see what my monthly payment might be?

Use our free car finance calculator which you can find below in order to see what your monthly payments will work out to. If you have poor credit then its best to put this into the calculator to get a realistic, ballpark estimation of your monthly payment but our customers often get better rates than they were expecting because of our huge panel of specialist lenders.

What is bad credit car finance?

Generally speaking, people who have a poor credit history or a low credit score will find it harder to secure a more traditional car loan. Bad credit can be caused by a range of factors, ranging from missed payments to high credit card balances or, in more extreme cases, bankruptcies.

Checking your eligibility can be a highly invasive process, with the majority of lenders opting to use a hard search tool. Many people aren’t aware that each hard check is recorded on their credit report and can be detrimental to their credit score, lowering their ability to get approved for credit in the future.

We know the system like the back of our hands and are dedicated to making car finance an accessible option for all. When you apply through We Finance Any Car, your credit will be reviewed via a soft credit check. We offer this service to ensure our customers are protected, giving you peace of mind throughout the application process.

If you have been struggling to get approval for car finance, you’re in the right place. Our bad credit car finance service is designed to support people who are facing a wide range of credit issues.

Good income, bad credit. Is it still possible to get car finance?

Yes! Although your credit score is a significant factor, it does not dictate your ability to get car finance. Even with very poor credit, you can still find a deal that suits you and your budget.

For the vast majority, finance applications with bad credit are met with an endless sea of headshakes and firm no’s. We know how frustrating this can be.

If you have a bad credit history, it can be hard to secure a car finance deal with favourable interest rates. But there are still options available and the first step is talking to the right lender. Specialising in bad credit car finance, our panel of lenders is primed to give every individual the chance to get a loan.

Can I get car finance with no credit history?

If you’re 18 and looking for your first car, or you’re new to the UK, it is possible that you have a thin or no credit history. Those who have not used credit for an extended period of time may also find themselves without a credit history. For instance, if you have paid off all your debts and closed your credit account.

Don’t despair! While you may notice higher interest rates, you can still be successful with your car finance application. To improve your chances of getting accepted, you have the option to add a trustworthy guarantor to your finance agreement. They will need to have a good credit rating and be in employment. This can also help if you have no employment history.

Consider a smaller loan. Applying for used car finance can often be a more achievable route to securing a new set of wheels. From the legendary Ford to the likes of Land Rover and BMW, there’s a wide range of quality cars currently available on the second-hand market. With our handy car search portal, you can easily find a vehicle that ticks all your boxes.

Did you know that car finance can help you improve your credit score over time? As long as you stay on top of your monthly payments, you are able to build a good credit report.

What information do I need to apply for bad credit car finance?

Applying for anything related to finance, such as loans, can be a daunting and time-consuming experience. Your personal Account Manager will be able to support you every step of the way.

The information required can vary depending on the lender, but there are some general guidelines. With our simple online form, you can complete your application in a matter of minutes, all from the comfort of your own home – provided you have the relevant documents ready to go.

Let’s begin with the basics.

Our team has put together a quick overview of everything you need to get started:

All the usuals: You will need to fill out some personal information, including your name, address, and contact information.
Proof of identity: You will also be asked to provide a form of government-issued identification, like a driving licence (provisional or full) or a passport. If you don’t have your licence to hand, we can request a DVLA mandate instead. Make sure you’re camera ready – you may be asked to pose with your ID as an anti-fraud measure.
Proof of address: This can include an electric, water, or council tax bill received within the last 60 days. If you’re struggling to find one of the outlined documents, you can also prove your residency by requesting a statement from your bank.
Proof of earnings: If you are employed, you may be asked to provide your payslips for the last two months (if your income cannot be validated digitally). Alternatively, if you are self-employed you will need to show evidence of your income through open banking or a bank statement. Any benefits or pension plans will also help the lender.

Top tip – Any documentation will need to be photographed on a flat surface to ensure every detail is clear and readable.

Is there a credit score that is considered too low for car finance?

There are no set rules when it comes to minimum credit score eligibility. With this being said, your credit score will impact the likelihood of you being accepted for car finance, as well as determining the cost.

To put it simply: the lower the score, the more difficult the process.

Why has my credit score suddenly dropped?

As well as being a potential barrier to securing a car loan, a sudden drop in your credit score can cause a great deal of anxiety.

There are a variety of factors that can contribute to this. Sometimes it can be as simple as having a mistake on your reports or closing a credit card. Understanding why your score has changed is key. In less serious cases, you may be able to rectify the issue or take steps to improve your credit score, allowing you to explore alternative car finance options.

Can I get car finance if I have a County Court Judgement (CCJ)?

Yes, you can still get car finance with a CCJ on your file. We recognise that unpredictable life events can impact your financial circumstances, but this shouldn’t hold you back from the opportunity to buy a car.

That’s why we work with specialist lenders who have a wealth of experience when it comes to bad credit car finance. Thanks to our open-minded and inclusive approach, we get many, many customers affected by CCJs on the road. Ready to kickstart your journey with We Finance Any Car? Apply now.

What if I am in an Individual Voluntary Arrangement (IVA)?

Although being in an IVA can make the process of securing car finance a little trickier, it should not prevent you from submitting an application. There are still options available to you and, with an expert team by your side, we will help you make your dream car a reality.

If you are already in the process of repaying your debt, many traditional lenders will be hesitant to consider you for car finance. In fact, you will likely be turned away. At We Finance Any Car, we offer IVA car finance as part of our bad credit car finance options. Whether you have just completed your agreement and are being held back by your credit report or you are currently in an IVA, our service is designed to support a wide range of individual circumstances.

As specialists in bad credit car finance, our lenders are not deterred by applicants who have a poor or bad credit history. In fact, having an IVA on your credit report can help to show that your finances are managed, as long as you are successfully meeting the payment deadlines.

There are a few more rules and regulations when it comes to IVA car finance. If you are still repaying your debt, you will need to request written permission from your insolvency practitioner to borrow anything over £500. This can be a complex process but your dedicated Account Manager will be there to support you with anything you need. To make sure you can successfully meet your monthly repayments, the lender will also review your employment status and current income. Concerned that being self-employed will affect your chances? Don’t be! Our commitment to treat every customer equally ensures that each application is reviewed with an open-minded approach.

The hustle and bustle of daily life makes having a reliable mode of transport more important than ever. With our experience and specialist panel of lenders, you are one step closer to securing your next car.

Can I get car finance without a credit check?

A credit check is there to ensure the protection of the applicant as well as the lender. To support you with purchasing your new car, finance providers need to be confident that you can afford to meet the monthly payments. Credit checks provide a snapshot of your financial history and current situation, flagging any potential areas of risk. This can be a daunting process, especially if you are struggling with your finances. However, it’s important to remember that these checks are there to ensure you receive a deal that suits your situation and not something to fear. Although we cannot offer car finance without a credit score or credit history check, we do provide soft credit checks at the beginning of every application. Compared to a hard search, this is a less rigorous risk assessment that will not have any long-lasting impacts on your credit rating.

We recognise that individual circumstances can vary greatly and your ability to purchase a new car should not be based solely on your financial history. Good news! If you have a poor or limited credit history, or if you have previously been declined for a loan due to your credit score, you can still secure car finance. Although bad credit solutions may come with higher interest rates or a shorter loan term, we are here to ensure you get the best deal possible.

Along with a soft search, the lender will use a range of criteria to assess your ability to repay the loan. This can include your employment history and stability, bank statements, and current income – the specific criteria may differ slightly depending on the lender.

There can be a wide variety of reasons for poor or limited credit history. You may have entered into an Individual Voluntary Arrangement (IVA) or have a Country Court Judgement (CCJ) on your credit report. In both instances, your credit score will be significantly damaged and you will likely be dismissed by a traditional lender. You could also be a young driver who hasn’t had the opportunity to build up a solid credit profile. The ability to buy a new car should not be impacted by circumstances that are beyond your control, no matter how severe. So, while credit checks are a critical part of car finance, our process is set up to ensure that each applicant is considered.

I have a default on my credit report - is it still possible to apply for car finance?

With us, you can still secure car finance with a default. It may just be a little more complex.

Our bad credit car finance is a more specialist approach that covers a wide range of circumstances. One of which is having a default on your credit file.

Put simply, a default occurs when you have frequently missed payments on a credit agreement. This will be marked on your report and remain there for up to 6 years. Unfortunately, it can significantly lower your score as well as your chances of approval, especially with mainstream lenders.

At We Finance Any Car, you’ll find flexible car financing that accommodates all kinds of applicants. We take the time to review your entire situation, rather than focus solely on your default. After all, you’re not just a credit score…

Are benefits considered an acceptable form of income?

Absolutely! Although eligibility may vary depending on the lender’s criteria, benefits can still be accepted as a form of income.

It’s important to note that being on benefits does not automatically give you a bad credit rating. However, you may need to seek a more flexible financing solution.

Our car finance on benefits service is feasible for a range of applicants, covering a variety of benefit types. And it doesn’t matter whether benefits are your sole source of income or they are used alongside other earnings, we can help.

How does bankruptcy affect my chances of financing a car?

The ability to purchase a car through finance will all depend on which stage of bankruptcy you are in.

For instance, if you have recently filed for bankruptcy, it will be extremely difficult to get approval for a car finance loan (even with us). This is due to various legal implications and because the risk level is too high. Also, the strain that comes with active bankruptcy makes it nearly impossible to take on another financial obligation.

However, if you apply for car finance after a bankruptcy discharge, you are more likely to be successful. The main reason for this is that you are no longer restricted by the terms of your bankruptcy. You should also be in a better position to meet the monthly payment deadlines.

Choosing a more specialist financing option is the way to go. You’ll only face more disappointment with mainstream lenders…

There are a few things you can do to improve your chances:

Focus on rebuilding your credit and managing your finances responsibly
Demonstrate that you have a stable source of income
Although a deposit isn’t essential, it can sometimes help to make your application more attractive
Choose a vehicle that is reliable and, importantly, within your budget
Last but not least, ensure you apply through us

Our bad credit finance solution is there to support you, even when you’ve been rejected elsewhere. Explore your options today.

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About Us

If you are looking for car finance, you are in the right place!

We have years of experience in car finance, a very extensive lending panel & a team set up to get you the car you want at the best finance rate possible. If you have already found a car and just need the finance – great! If you need help finding a car then we are there for you as well – in fact, we have access to over 300,000 cars.

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