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Our application process

More than just your credit score

Our application process is quick and easy and applying online should only take you 5 minutes! If you would rather apply on the phone our Direct Sales Team will be more than happy to guide you through our application process.

Once you’ve applied, we carry out a soft credit search on you, so we’ll be able to tell you whether you’ve been approved, approved in principle or declined almost instantly. We only use a hard credit search when you decide you’d like to enter into an agreement with us, and contracts are drawn up for you to sign.

Follow the different application routes below, to see what would happen next if you are approved, approved in principle, or declined.

More than just your credit score

Follow the different application routes below, to see what would happen next if you are approved, approved in principle, or declined.

Have you been approved, approved in principle or declined?

You've been approved!

You’ve applied and we’ve approved you’re application – great news!

If you are approved, you will see an immediate offer on the screen showing the amount we could lend you and the APR. This offer is valid for up to 30 days, giving you plenty of time to decide what the best finance deal is for you.

First steps, let’s find you a vehicle you’d like. You’ll see on the emails you’ll have received that we have a vehicle finder tool, tailored to vehicles we know we’ll be able to help you fund.

Click through the next steps to make sure you’ve got everything we’ll need from you to get you into your new vehicle as quickly and as seamlessly as possible.

1
You've been approved

Great you've been approved for vehicle finance! Now it's time to find the right vehicle for you. You can use our Exchange & Mart vehicle finder to search for a new car.

2
Proof of identity

To continue your application we need proof of identity. In most cases this will be a copy of your driving licence. If this is not available then our Direct Sales Team will let you know which documents you can use.

3
Test drive

Our Direct Sales Team will be on hand to help you find the right vehicle, and get you ready for a test drive.

4
Your quote

Once you've found a vehicle, we can send you a final quote to approve. If you're happy with that we'll prepare your contract.

5
Your contract

If you're happy with your quote and the proposed monthly repayments, we can then prepare your contract. It's only at this point we'll do a hard credit search on your credit file.

This will not be done until you're completely certain you've found a car you like, and you want to enter into an agreement with us. We'll then send the contracts across for you to sign.

6
Payment and collection

Once we receive a copy of your signed contract, we'll be able to transfer the fund for the car to the dealer. Once we've paid for your vehicle, we'll let you know straight away. You'll then be able to go and pick up your new vehicle as soon as it is convenient for you and the dealership.

You've been approved!

You’ve applied and we’ve approved you’re application – great news!

Click through the next steps to make sure you’ve got everything we’ll need from you to get you into your new vehicle as quickly and as seamlessly as possible.

1
You've been approved

Great you've been approved for vehicle finance! Now it's time to find the right vehicle for you. You can use our Exchange & Mart vehicle finder to search for a new car.

2
Proof of identity

3
Test drive

Our Direct Sales Team will be on hand to help you find the right vehicle, and get you ready for a test drive.

4
Your quote

Once you've found a vehicle, we can send you a final quote to approve. If you're happy with that we'll prepare your contract.

5
Your contract

6
Payment and collection

You've been approved in principle

Firstly, you might be wondering what exactly this means. Simply put, approved in principle means we require a little bit more information from you before your application can be approved, such as affordability checks.

Our Direct Sales Team can help with this stage, and within no time at all you’ll be onto the next steps and back booking in test drives for your next vehicle!

1
Affordability checks

A member of our Direct Sales Team will be able to tell you exactly what documents we need to carry out affordability checks on your application.

Unfortunately, if you haven't passed the affordability checks we are unable to offer you vehicle finance. Don't let this damper your spirit, check out our guides below on how to improve your credit score.

2
Proof of identity

3
Find your new vehicle

Great you've been approved in principle for vehicle finance! Now it's time to find the right vehicle for you. You can use our Exchange & Mart vehicle finder to search for a new car.

4
Test drive

Our Direct Sales Team will be on hand to help you find the right vehicle, and get you ready for a test drive.

4
Your quote

Once you've found a vehicle, we can send you a final quote to approve. If you're happy with that we'll prepare your contract.

5
Your contract

If you're happy with your quote and the proposed monthly repayments, we can then prepare your contract. It's only at this point we'll do a hard credit search on your credit file. This will not be done until you're completely certain you've found a car you like, and you want to enter into an agreement with us. We'll then send the contracts across for you to sign.

6
Payment and collection

You've been approved in principle

Our Direct Sales Team can help with this stage, and within no time at all you’ll be onto the next steps and back booking in test drives for your next vehicle!

1
Affordability checks

2
Proof of identity

3
Find your new vehicle

Great you've been approved in principle for vehicle finance! Now it's time to find the right vehicle for you. You can use our Exchange & Mart vehicle finder to search for a new car.

4
Test drive

Our Direct Sales Team will be on hand to help you find the right vehicle, and get you ready for a test drive.

4
Your quote

Once you've found a vehicle, we can send you a final quote to approve. If you're happy with that we'll prepare your contract.

5
Your contract

If you're happy with your quote and the proposed monthly repayments, we can then prepare your contract. It's only at this point we'll do a hard credit search on your credit file. This will not be done until you're completely certain you've found a car you like, and you want to enter into an agreement with us. We'll then send the contracts across for you to sign.

6
Payment and collection

How to use our Vehicle Finder

We’ve been working with Exchange & Mart to design a Vehicle Finder tool that will help you find the right car for you. Find a car that’s got everything you need and more, all within your budget.

How to use our Vehicle Finder

We’ve been working with Exchange & Mart to design a Vehicle Finder tool that will help you find the right car for you. Find a car that’s got everything you need and more, all within your budget.

You’ve been declined! What happens now?

Unfortunately, we are unable to offer vehicle finance at this current moment in time.

Next steps…

Being refused for vehicle finance can be frustrating, but it’s not the end of the road. Understanding the reason behind your decline can be the first step toward turning things around. We have comprehensive guides to help identify why you might have been declined and to provide practical steps to help you improve your credit score.

By following these actionable insights, you can not only better your financial situation and understand, but improve your chances of approval next time around. Check out some of our top FAQs to help you on to a better road ahead….

You’ve been declined! What happens now?

Unfortunately, we are unable to offer vehicle finance at this current moment in time.

Next steps…

Frequently asked questions

Taking out a vehicle finance agreement is a big commitment and can seem complex. Here are the answers to the questions that our team gets asked most regularly:

What support is available if I’m experiencing financial difficulties?

What is a bad credit score?

How to improve your credit score?

What is CS Finance?

Why has my credit score gone down?

Frequently asked questions

Taking out a vehicle finance agreement is a big commitment and can seem complex. Here are the answers to the questions that our team gets asked most regularly:

What support is available if I’m experiencing financial difficulties?

What is a bad credit score?

How to improve your credit score?

What is CS Finance?

Why has my credit score gone down?

Bad credit? No problem

We specialise in helping those who have been rejected by mainstream lenders. Even if you have bad credit, we may be able to help. Find out more below.

Being self-employed

We consider applications even if you’re self-employed and have bad credit so we might be able to offer you finance even if other lenders have rejected your application.

Buying your next vehicle

You want to make sure you purchase a reliable vehicle, which doesn’t break the bank. We’ve put together a series of helpful guides.

For a better road ahead

Moneybarn is the trading style of Moneybarn No. 1 Limited, a company registered in England and Wales with company number 04496573. The registered address is Athena House, Bedford Road, Petersfield, Hampshire, GU32 3LJ.

Moneybarn’s VAT registration number is 180 5559 52.

Moneybarn No. 1 Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702780)

Representative example: Total amount of credit £9,522. Repayable over 56 months, 55 monthly payments of £303.93. Representative 30.7% APR (fixed). Deposit of £843.33. Total charge for credit £7,193.96. Total amount payable £17,559.29. Subject to status and affordability. You could risk losing your vehicle if you do not keep up payments.