Bad credit car finance

Have you been turned down by other lenders because of your bad credit history? We consider finance applications even if you’ve been declined elsewhere.

Bad credit history

If you’ve been suffering with a bad credit history Moneybarn are the bad credit car finance specialist. We understand that you still need a reliable vehicle so that you can get to work, click below to find out how we can help you.

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Bad credit history

If you’ve been suffering with a bad credit history Moneybarn are the bad credit car finance specialist. We understand that you still need a reliable vehicle so that you can get to work, click below to find out how we can help you.

Find out more

Car finance explained

Car finance can be confusing, but luckily we’re on hand to explain it to you. Our simple guides will explain the finance process to you.

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Car finance explained

Car finance can be confusing, but luckily we’re on hand to explain it to you. Our simple guides will explain the finance process to you.

Find out more

Car finance calculator

Our simple and easy-to-use finance calculator will help you to understand what your monthly repayment is likely to be, and how long you’ll have finance for.

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Car finance calculator

Our simple and easy-to-use finance calculator will help you to understand what your monthly repayment is likely to be, and how long you’ll have finance for.

Find out more

Can I get car finance with bad credit?

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

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. We’re the UK’s largest provider of vehicle finance for people who may have struggled to get finance elsewhere.

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

What type of car loans do we offer?

We offer a type of car loan which is known as a “Conditional Sale Agreement”. This means you will be able to use your car for the length of the agreement term and it will be registered to you. However, we will be the legal owners of the car until all finance repayments have been made, and we’ll then transfer ownership to you.

How does an application work?

Applying for a car loan with us is really straightforward:

  1. Apply using our online form or request a call back.
  2. We will then run an initial soft credit check to see if we can offer you finance. This will not impact your credit score.
  3. 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’ll also let you know the next steps to complete your application and tell you what paperwork we need from you.
  4. If you’re still looking for a car, we can help you with your search.
  5. Once everything is approved, we’ll pay the dealer and you can collect your new car!

 

View our application process page for more details.

How long does it take to apply?

It only takes 5 minutes to fill out our simple online form. If you’d rather do this over the phone you can just leave your contact details and we’ll call you back.

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

Can a finance application harm my credit profile?

Some lenders may conduct a full credit search when you apply for finance. This means anyone who views your credit history will know you’ve applied for finance. 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 profile.

When you apply, we’ll only carry out a ‘soft credit search’ with your consent. This means the initial search won’t show on your credit record. We’ll only do a full credit search later on if you decide to go ahead with the agreement.

Why do I have bad credit?

There are many different things which can cause your credit score to go down, but generally it will be because of a failure to stick to the terms of a credit agreement, for example:

  • Late payments on household bills
  • Missed payments on a loan
  • Previously been made bankrupt

You might also have a weak credit profile because you haven’t used finance or credit previously, or you’re trying to rebuild your credit score.

If you want to learn more about your credit score or how to improve it, see our bad credit page for more information.

See if we can help you get car finance

Start your application online to see how Moneybarn can help you.

How we decide

We pride ourselves on using our own set of unique criteria to judge whether you’re accepted for car finance, not an arbitrary number on a computer. To us, you’re more than a credit score.

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Glossary

We’re here to make vehicle finance as simple and easy as possible, using clear, easy to understand language. Vehicle finance can be hard enough to understand without using lots of jargon!

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