Bad credit car finance

Are you looking for a bad credit car loan? We’re bad credit car finance specialists helping you get accepted for car finance.

If you have bad credit, or if you’ve been rejected by other lenders in the past, that’s when a specialist lender like Moneybarn can help.

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Bad credit car finance

Are you looking for a bad credit car loan? We’re bad credit car finance specialists helping you get accepted for car finance.

If you have bad credit, or if you’ve been rejected by other lenders in the past, that’s when a specialist lender like Moneybarn can help.

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On average our customers rate our service 4.5 out of 5. (March 2021)

Can I get car finance with bad credit?

Yes you can get car finance with bad credit. Having bad credit doesn’t mean you can’t borrow money to buy the vehicle you need for finance, but it may mean some lenders won’t approve you.

If you have bad credit and you are looking for a car, or if you’ve been rejected by other lenders in the past, that’s when a specialist lender like Moneybarn can help. We’re the UK’s largest provider of vehicle finance for people with poor credit. We are specialists in helping customers get bad credit car loans.

We may also be able to lend to you even if you:

If you’re unsure whether your poor credit history may affect you in getting a car loan, contact us today to see how we can help.

Can I get car finance with bad credit?

Yes you can get car finance with bad credit. Having bad credit doesn’t mean you can’t borrow money to buy the vehicle you need for finance, but it may mean some lenders won’t approve you.

If you have bad credit and you are looking for a car, or if you’ve been rejected by other lenders in the past, that’s when a specialist lender like Moneybarn can help. We’re the UK’s largest provider of vehicle finance for people with poor credit. We are specialists in helping customers get bad credit car loans.

We may also be able to lend to you even if you:

If you’re unsure whether your poor credit history may affect you in getting a car loan, contact us today to see how we can help.

Can I get car finance with no credit history?

Yes, Moneybarn could offer you car finance with no credit history. Although having no credit history can make it more difficult to get car finance.

Lenders see people with no credit history as having bad credit as they have no information on how well they usually handle their finances. If this is you, then the car finance offers available to you might be the same as someone who is looking for a bad credit car loan.

The reason for this is it’s more of a risk for lenders to offer you car finance with no credit history, as they have no way of telling how likely you are to repay the finance.

Can I get car finance with no credit history?

Yes, Moneybarn could offer you car finance with no credit history. Although having no credit history can make it more difficult to get car finance.

Lenders see people with no credit history as having bad credit as they have no information on how well they usually handle their finances. If this is you, then the car finance offers available to you might be the same as someone who is looking for a bad credit car loan.

The reason for this is it’s more of a risk for lenders to offer you car finance with no credit history, as they have no way of telling how likely you are to repay the finance.

Car finance to help keep you moving

We understand the importance of having a car that is reliable and trustworthy. With our selection of broad finance options, we should be able to help you find the right car for you.

We can provide car finance to people with poor credit as long as it meets the following criteria:

  • Financing a car from £4,000 – £25,000
  • Maximum of 120,000 mileage on the vehicle
  • No older than 12 years at the end of the agreement

To get car finance you’ll need:

  • Monthly earnings over £1,000 (after tax)
  • To be aged between 21 and 70
  • A full valid UK driving licence
  • 2 consecutive months of payslips or bank statements

Car finance to help keep you moving

We understand the importance of having a car that is reliable and trustworthy. With our selection of broad finance options, we should be able to help you find the right car for you.

We can provide car finance to people with poor credit as long as it meets the following criteria:

  • Financing a car from £4,000 – £25,000
  • Maximum of 120,000 mileage on the vehicle
  • No older than 12 years at the end of the agreement

To get car finance you’ll need:

  • Monthly earnings over £1,000 (after tax)
  • To be aged between 21 and 70
  • A full valid UK driving licence
  • 2 consecutive months of payslips or bank statements

What your car loan could look like

Summary

  • Monthly payment: £000.00
  • Total to repay: £00,000.00
  • Calculated APR: 00.0%

Representative 31.9% APR

What your car loan could look like

  • Monthly payment: £000.00
  • Total to repay: £00,000.00
  • Calculated APR: 00.0%

Representative 31.9% APR

We just needed that chance to get a new car, and Moneybarn were able to offer us that chance. We’ve never had any problems with Moneybarn, everything has been simple and easy. We would definitely use them again and are hoping to when this current agreement ends.

Adam
Adam
Adam

We just needed that chance to get a new car, and Moneybarn were able to offer us that chance. We’ve never had any problems with Moneybarn, everything has been simple and easy. We would definitely use them again and are hoping to when this current agreement ends.

Adam

How to apply for car finance with bad credit

To apply for car finance with bad credit, we would always suggest using our car finance calculator to start off with. This will give you a clear idea of what your car loan could look like, depending on what repayment term and the amount you are wanting to borrow.

When you know what you’d like to borrow and for how long, then applying for a car loan with us is simple, even if you have poor credit or little credit history.

It only takes 5 minutes to fill out our online form, and if you’d rather apply over the phone then you can just leave your contact details and we’ll call you back at a time that suits you.

If you need any help or information give our team a call on 0330 555 2505.

How to apply for car finance with bad credit

To apply for car finance with bad credit, we would always suggest using our car finance calculator to start off with. This will give you a clear idea of what your car loan could look like, depending on what repayment term and the amount you are wanting to borrow.

When you know what you’d like to borrow and for how long, then applying for a car loan with us is simple, even if you have poor credit or little credit history.

It only takes 5 minutes to fill out our online form, and if you’d rather apply over the phone then you can just leave your contact details and we’ll call you back at a time that suits you.

If you need any help or information give our team a call on 0330 555 2505.

Our simple 5-step application process

Get a quote using our online application or speak to our expert Direct Sales Team.

We will then run an initial soft credit check to see if we can offer you car finance. This will not impact your credit score.

If you’re provisionally accepted, we’ll be happy to discuss your options and monthly budget that you can afford based on your personal circumstances. 

We will tell you what paperwork we need from you. If you’re still looking for a car, we can help you with your search.

Once the car loan is approved, we’ll pay the dealer and you can collect your new car!

How Moneybarn can help

As the UK’s leading lender of specialist car, van and motorbike finance, we’ve been supporting thousands of people up and down the country with bad credit car finance for many years. We’re motivated by our focus on achieving great customer results, and aim to make financing a car as simple and seamless as possible. 

Our hard work has earned us many major industry awards over the years. We were recently awarded ‘Non-Prime Lender of the Year’ at the Motor Finance Europe Awards 2020, as well as the ‘Feefo Platinum Award 2020’ and ‘Best Brand at the Lending Awards 2020’.

We only use a soft search at application, which means it won’t affect your credit score. As a vehicle finance company who want to help all their customers onto a better road ahead, we accept applications when other lenders might not. 

  • Specialise in poor credit
  • We accept IVAs
  • We accept CCJs

We understand the importance of having a reliable car whether it’s getting to work, doing the school run or going about your daily lives. Our broad finance option should help you find the right car for you.

  • Financing a car from £4,000 - £25,000
  • Maximum of 120,000 mileage on the vehicle
  • No older than 12 year at the end of the agreement

How Moneybarn can help

As the UK’s leading lender of specialist car, van and motorbike finance, we’ve been supporting thousands of people up and down the country with bad credit car finance for many years. We’re motivated by our focus on achieving great customer results, and aim to make financing a car as simple and seamless as possible. 

Our hard work has earned us many major industry awards over the years. We were recently awarded ‘Non-Prime Lender of the Year’ at the Motor Finance Europe Awards 2020, as well as the ‘Feefo Platinum Award 2020’ and ‘Best Brand at the Lending Awards 2020’.

We only use a soft search at application, which means it won’t affect your credit score. As a vehicle finance company who want to help all their customers onto a better road ahead, we accept applications when other lenders might not. 

  • Specialise in poor credit
  • We accept IVAs
  • We accept CCJs

We understand the importance of having a reliable car whether it’s getting to work, doing the school run or going about your daily lives. Our broad finance option should help you find the right car for you.

  • Financing a car from £4,000 - £25,000
  • Maximum of 120,000 mileage on the vehicle
  • No older than 12 year at the end of the agreement

How do I improve my bad credit score?

Fix any wrong information

Wrong information appearing on your credit report might impact your credit score. Make sure all your information is up to date and correct so that your credit history is right.

Using your credit card wisely

Try to ensure you get no late or missed payments as this will negatively impact your credit score.

Register for the electoral roll

If you name isn't on the electoral roll you will find it harder to get credit. Go to the GOV.UK website to find out how you register.

Avoid moving home often

If you move your address regularly you might find it harder to get finance and it will impact your credit score.

Tips on how to improve your credit score

Many different factors can affect your credit score and result in poor credit. For more information about your credit score or how to improve it, see our bad credit page.

Frequently asked bad credit car finance questions

Yes, you can. We are car finance specialists who support thousands of customers each month with their bad credit car finance needs. Helping them into a vehicle they need and onto a better road ahead.

You can get a quote in just a few minutes to see what your loan could look like with us.

No, unfortunately guaranteed car finance is a myth even if you have bad credit – it doesn’t exist. This is because a lender will never be able to guarantee you any type of finance without running the appropriate affordability and credit checks. Only once they have done these checks will they be able to tell you for definite that you can get car finance.

We can offer you bad credit car finance with no deposit. If you have a deposit that you want to put towards the value of your car then we also accept that, however if you are wanting car finance for the total value of a vehicle then we could help you.

Yes, it can but getting a quote with Moneybarn will not affect your credit score. When you ask for a quote, only a soft search will be done on your credit file until you decide to proceed with the loan and contracts are drawn up for you to sign. At this point a hard search will be done on your credit file which will affect your credit score.

Other lenders may conduct a full credit search when you initially apply for a car loan, so make sure you check this before you start shopping around for a car finance provider. Multiple full credit searches in a short space of time can indicate you’re struggling to get approved for finance which may harm your credit score.

Your credit score is a three digit number which is calculated by using information from your credit report.

There are 3 main credit reference agencies, which will give you slightly different scores based on their own unique calculations.

Visit one of the below credit credit reference agencies to find out your credit score:

A “good” or “bad” credit score means different things depending on which agency you use to look up your score, as each one has its own criteria.

It’s important to understand what your credit score is from all the main credit reference agencies as different lenders will use different credit reference agencies to understand if they should lend to you.

Although we can’t say for sure what a “bad” credit score looks like as a 3-digit figure, a general guide from the main credit referencing agencies class the following scores as “bad”:

• Experian – 720 and below
• Equifax (ClearScore) – 379 and below
• TransUnion (Credit Karma)- 565 and below

There is a lender out there for everyone, no matter what their credit score is, or even if they have no credit history at all.

At Moneybarn we can provide you with car finance even if you have a “bad” credit score, or no credit history at all.

Bad credit history

If you’ve been suffering with a bad credit history, you’re in good hands. As bad credit car finance specialists, Moneybarn understand that you still need a reliable vehicle to get to work. 

Car finance explained

Our guide explains how car finance works and the different types of car finance available, so you can choose the option that’s right for you.

Buying your next vehicle

Need some car buying tips? We provide some useful areas we think you should consider – from researching to buying and then maintaining your car.