Car finance in London

Car finance in London

We could help you finance a reliable car in London so you can get on with your daily life. We’ve helped thousands of customers up and down the UK, including in London, get the car they need to get around.

How to get a car on finance in London

Car finance is where you borrow money to cover the cost of your new car. You then repay the finance amount each month for the length of the agreement. Our agreements last between 36 to 60 months. Once you’ve made your final repayment, you’ll fully own the car.

We use a Conditional Sale agreement for our car finance. The main difference between CS and other finance options is that you don’t own the car until you make your final repayment, and there is no option to purchase fee or balloon payment.

To get car finance you’ll need:

  • Monthly earnings over £1,000 (after tax)
  • To be aged between 20 and 75
  • A full valid UK driving licence
  • 2 consecutive months of payslips

If you have a particular car in mind, it must meet our lending criteria:

  • Valued between £4,000-£35,000
  • The car can have a mileage up to 120,000 at the start of the agreement (depending on your loan offer)
  • No more than 15 years old by the end of the agreement (depending on your loan offer)

We could help you finance a reliable car in London so you can get on with your daily life. We’ve helped thousands of customers up and down the UK, including in London, get the car they need to get around.

How to get a car on finance in London

Car finance is where you borrow money to cover the cost of your new car. You then repay the finance amount each month for the length of the agreement. Our agreements last between 36 to 60 months. Once you’ve made your final repayment, you’ll fully own the car.

We use a Conditional Sale agreement for our car finance. The main difference between CS and other finance options is that you don’t own the car until you make your final repayment, and there is no option to purchase fee or balloon payment.

To get car finance you’ll need:

  • Monthly earnings over £1,000 (after tax)
  • To be aged between 20 and 75
  • A full valid UK driving licence
  • 2 consecutive months of payslips

If you have a particular car in mind, it must meet our lending criteria:

  • Valued between £4,000-£35,000
  • The car can have a mileage up to 120,000 at the start of the agreement (depending on your loan offer)
  • No more than 15 years old by the end of the agreement (depending on your loan offer)

Bad credit car finance in London

We’re specialists in bad credit car finance. Even if you’ve been refused car finance by other lenders, or because you have a CCJ or IVA. We understand that your credit score doesn’t change the fact you need a car to get around.

If you’re looking for car finance with poor credit in London and don’t know where to start, try our car finance calculator below. This will give you a clear idea of what your car finance could look like, depending on how much you are looking to borrow and over the repayment term that suits you.

If you’re ready, you can get a quote today. 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.

Bad credit car finance in London

We’re specialists in bad credit car finance. Even if you’ve been refused car finance by other lenders, or because you have a CCJ or IVA. We understand that your credit score doesn’t change the fact you need a car to get around.

If you’re looking for car finance with poor credit in London and don’t know where to start, try our car finance calculator below. This will give you a clear idea of what your car finance could look like, depending on how much you are looking to borrow and over the repayment term that suits you.

If you’re ready, you can get a quote today. 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.

London car finance calculator

Summary

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

Representative 30.5% APR

London car finance calculator

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

Representative 30.5% APR

Can I get guaranteed car finance in London?

No, guaranteed car finance is a myth even if you have bad credit – it doesn’t exist.

You might have heard it talked about in London, but no responsible dealer or lender can guarantee you any type of finance. Everyone’s eligibility for car finance is different, and a responsible lender will run affordability and credit checks before offering you finance.

If you are looking for car finance in London with poor credit, a specialist lender like Moneybarn may be able to help.

Can I get car finance in London with no deposit?

If you don’t have the money to put down a deposit, you might be looking for car finance with no deposit. It is possible, but it depends on your personal circumstances. These include affordability and credit history.

Some of our agreements might require a deposit. Our team can guide you through the process and discuss what’s best for you.

If you’d like to learn more, we’ve written a full guide to no deposit car finance so you can make an informed decision.

Electric car finance in London

If you’re thinking about going electric, and are looking for an electric car on finance in London, check out our guide to electric car finance.

What to know about driving in London

In 2021, London expanded their ULEZ area to include anywhere within the north and south circular roads. This means if you are intending on driving into London, you must check to see if your vehicle is ULEZ compliant. If you vehicle is not ULEZ compliant you can still drive through London, but you will have to pay a fee.

You must also consider the Congestion Charge zone in London, which is a much smaller area but runs in a circle around Soho, Westminster and the City of London. If anyone enters this area within charging times then there is a flat charge.

It’s important to consider these charges when buying a new car if you intend to travel in and around London.

We recommend using a navigation app and allowing plenty of time for your journey. Our research found that London is the 4th slowest place in the UK, and the capital is in the top 10 for most expensive and least available parking spaces.

Why apply for finance with Moneybarn?

As the UK’s leading lender of specialist car, van and motorbike finance, we help thousands of drivers every month move past their credit score. We aim to make financing a vehicle as simple and seamless as possible.

Our hard work has earned us many major industry awards over the years. Our most recent 2023 awards include ‘Vehicle Finance Provider of the Year’ at the MoneyAge National Credit Awards, ‘Subprime Lender of the Year’ at the Motor Finance Europe Awards, and highly commended for ‘Finance Provider of the Year (subprime)’ at the Car Dealer Magazine Power Awards. 

Can I get guaranteed car finance in London?

No, guaranteed car finance is a myth even if you have bad credit – it doesn’t exist.

You might have heard it talked about in London, but no responsible dealer or lender can guarantee you any type of finance. Everyone’s eligibility for car finance is different, and a responsible lender will run affordability and credit checks before offering you finance.

If you are looking for car finance in London with poor credit, a specialist lender like Moneybarn may be able to help.

Can I get car finance in London with no deposit?

If you don’t have the money to put down a deposit, you might be looking for car finance with no deposit. It is possible, but it depends on your personal circumstances. These include affordability and credit history.

Some of our agreements might require a deposit. Our team can guide you through the process and discuss what’s best for you.

If you’d like to learn more, we’ve written a full guide to no deposit car finance so you can make an informed decision.

Electric car finance in London

If you’re thinking about going electric, and are looking for an electric car on finance in London, check out our guide to electric car finance.

What to know about driving in London

In 2021, London expanded their ULEZ area to include anywhere within the north and south circular roads. This means if you are intending on driving into London, you must check to see if your vehicle is ULEZ compliant. If you vehicle is not ULEZ compliant you can still drive through London, but you will have to pay a fee.

You must also consider the Congestion Charge zone in London, which is a much smaller area but runs in a circle around Soho, Westminster and the City of London. If anyone enters this area within charging times then there is a flat charge.

It’s important to consider these charges when buying a new car if you intend to travel in and around London.

We recommend using a navigation app and allowing plenty of time for your journey. Our research found that London is the 4th slowest place in the UK, and the capital is in the top 10 for most expensive and least available parking spaces.

Why apply for finance with Moneybarn?

As the UK’s leading lender of specialist car, van and motorbike finance, we help thousands of drivers every month move past their credit score. We aim to make financing a vehicle as simple and seamless as possible.

Our hard work has earned us many major industry awards over the years. Our most recent 2023 awards include ‘Vehicle Finance Provider of the Year’ at the MoneyAge National Credit Awards, ‘Subprime Lender of the Year’ at the Motor Finance Europe Awards, and highly commended for ‘Finance Provider of the Year (subprime)’ at the Car Dealer Magazine Power Awards. 

FAQs about London car finance

We have a list of reputable dealers that we work with. We offer finance across all postcodes of London. Some of our trusted partners around London include:

  • Approved Cars Croydon, Stafford Road, CR0 4NG
  • Stellantis &You (formerly called Robins & Day), Chingford Road, E4 8SP
  • Quality Part X, Stevenage, SG1 4QT

Please note that you can apply for car finance in London from any reputable dealer, not just the above list.

If you don’t know whether the car or dealer fits our lending criteria, don’t worry. Our team can help guide you through the process.

When you get a quote with us, we use a soft search which does not affect your credit score. 

Other lenders might use a hard search at the point of application, so its important to understand the difference between a soft search and a hard search.

When you decide to proceed with the loan, a hard search will be done on your credit file which will affect your credit score.

The most popular car brand financed by our customers in London is Ford. The second most popular is Mercedes, and the third most popular is BMW.

If you aren’t sure which car you’d like, don’t worry! We can help guide you through that process.

When you make an application, you’ll need to provide some personal details and information about you and your financial situation. If you wish to enter into an agreement then you would need to provide proof of identification (usually a drivers licence) and proof of income with 2 consecutive months of payslips.

Further documents might be needed as part of our affordability checks. If that is the case then our team will be able to guide you through that process.

FAQs about London car finance

We have a list of reputable dealers that we work with. We offer finance across all postcodes of London. Some of our trusted partners around London include:

  • Approved Cars Croydon, Stafford Road, CR0 4NG
  • Stellantis &You (formerly called Robins & Day), Chingford Road, E4 8SP
  • Quality Part X, Stevenage, SG1 4QT

Please note that you can apply for car finance in London from any reputable dealer, not just the above list.

If you don’t know whether the car or dealer fits our lending criteria, don’t worry. Our team can help guide you through the process.

When you get a quote with us, we use a soft search which does not affect your credit score. 

Other lenders might use a hard search at the point of application, so its important to understand the difference between a soft search and a hard search.

When you decide to proceed with the loan, a hard search will be done on your credit file which will affect your credit score.

The most popular car brand financed by our customers in London is Ford. The second most popular is Mercedes, and the third most popular is BMW.

If you aren’t sure which car you’d like, don’t worry! We can help guide you through that process.

When you make an application, you’ll need to provide some personal details and information about you and your financial situation. If you wish to enter into an agreement then you would need to provide proof of identification (usually a drivers licence) and proof of income with 2 consecutive months of payslips.

Further documents might be needed as part of our affordability checks. If that is the case then our team will be able to guide you through that process.

Bad credit? No problem.

If you’ve been suffering with a bad credit history, you’re in good hands. We understand that you still need a reliable car to get to around

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Our guide explains how car finance works and the different types of car finance available, so you can make an informed decision.

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