Lending criteria

Lending criteria

Everything you need to know about your application

It’s good to know that even at application, a finance agreement is still not guaranteed with us.

We will need to receive copies of the documents listed in your application email. Every application is unique and has different requirements, so please discuss with your Moneybarn Direct Consultant exactly what is needed from you.

Your finance is not guaranteed until we are satisfied that you, the vehicle and the dealership fully meet our criteria.

Everything you need to know about your application

It’s good to know that even at application, a finance agreement is still not guaranteed with us.

We will need to receive copies of the documents listed in your application email. Every application is unique and has different requirements, so please discuss with your Moneybarn Direct Consultant exactly what is needed from you.

Your finance is not guaranteed until we are satisfied that you, the vehicle and the dealership fully meet our criteria.

A car driving round a corner

Car criteria

  • You must be aged between 20 and 75 at the point of application (subject to affordability)
  • You could borrow a minimum of £4,000 to a maximum of £35,000 (subject to affordability)
  • The maximum agreement length is 5 years / 60 months
  • 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)
  • The car must have a retail value of at least £4,000, and a deposit may be required.
A car driving round a corner

Car criteria

  • You must be aged between 20 and 75 at the point of application (subject to affordability)
  • You could borrow a minimum of £4,000 to a maximum of £35,000 (subject to affordability)
  • The maximum agreement length is 5 years / 60 months
  • 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)
  • The car must have a retail value of at least £4,000, and a deposit may be required.

Van criteria

  • You must be aged between 20 and 75 at the point of application (subject to affordability)
  • You could borrow a minimum of £4,000 to a maximum of £35,000 (subject to affordability)
  • A deposit of £400 may be required, subject to your credit rating
  • We do not finance VAT
  • The maximum agreement length is 5 years / 60 months
  • The van must not be older than 12 years at the end of the agreement
  • The van can have a mileage up to 125,000 at the start of the agreement
  • We do not finance base chassis vans, minibuses or vans that have had specialist body work such as cherry pickers.
A van driving down a country road

Van criteria

  • You must be aged between 20 and 75 at the point of application (subject to affordability)
  • You could borrow a minimum of £4,000 to a maximum of £35,000 (subject to affordability)
  • A deposit of £400 may be required, subject to your credit rating
  • We do not finance VAT
  • The maximum agreement length is 5 years / 60 months
  • The van must not be older than 12 years at the end of the agreement
  • The van can have a mileage up to 125,000 at the start of the agreement
  • We do not finance base chassis vans, minibuses or vans that have had specialist body work such as cherry pickers.
A van driving down a country road
Someone on a motorbike on a country road

Motorbike criteria

  • You must be aged between 20 and 75 at the point of application (subject to affordability)
  • You could borrow a minimum of £3,600 to a maximum of £15,000 (subject to affordability)
  • A deposit of £400 may be required, subject to your credit rating
  • The maximum agreement length is 5 years / 60 months
  • If you have a CBT licence your maximum agreement length is 36 months
  • The minimum engine size we finance is 125cc
  • The motorbike must not be older than 12 years at the start of the agreement
  • The motorbike can have a mileage up to 30,000 at the start of the agreement
  • If you do not have a full motorbike licence then we will need a copy of your CBT certificate and provisional licence
  • We require a copy of your driving licence and the motorbike advert showing the mileage, price and year of registration.
Someone on a motorbike on a country road

Motorbike criteria

  • You must be aged between 20 and 75 at the point of application (subject to affordability)
  • You could borrow a minimum of £3,600 to a maximum of £15,000 (subject to affordability)
  • A deposit of £400 may be required, subject to your credit rating
  • The maximum agreement length is 5 years / 60 months
  • If you have a CBT licence your maximum agreement length is 36 months
  • The minimum engine size we finance is 125cc
  • The motorbike must not be older than 12 years at the start of the agreement
  • The motorbike can have a mileage up to 30,000 at the start of the agreement
  • If you do not have a full motorbike licence then we will need a copy of your CBT certificate and provisional licence
  • We require a copy of your driving licence and the motorbike advert showing the mileage, price and year of registration.

Dealership criteria

  • Dealerships can be franchised (i.e. Ford, Honda etc.) or not franchised
  • The dealership must have a physical showroom or forecourt
  • The dealer must be VAT registered
  • The dealership must have a website with vehicles listed on it, and a landline number.
  • The dealership must have an FCA number, which shows they are regulated by a financial body. Don’t worry we will check this for you, but it’s to make sure you are protected as a customer.
Lots of cars reversed back to back

Dealership criteria

  • Dealerships can be franchised (i.e. Ford, Honda etc.) or not franchised
  • The dealership must have a physical showroom or forecourt
  • The dealer must be VAT registered
  • The dealership must have a website with vehicles listed on it, and a landline number.
  • The dealership must have an FCA number, which shows they are regulated by a financial body. Don’t worry we will check this for you, but it’s to make sure you are protected as a customer.
Lots of cars reversed back to back

Self-employed criteria

Self-employed criteria

We can provide self-employed car and van finance to those that meet the following criteria:

  • Monthly earnings over £1,300 (before tax)
  • Aged between 20 and 75
  • A full valid UK driving licence
  • Tax returns or CIS vouchers
  • 2 consecutive months of payslips (this applies to contractors only)

We can provide self-employed motorbike finance to those that meet the following criteria:

  • Monthly earnings over £1,300 (before tax)
  • A deposit of £0 or £400 (subject to affordability)
  • Aged between 20 and 75
  • Valid A1, A2 or A UK motorbike licence or a valid CBT certificate
  • Tax returns or CIS vouchers
  • 2 consecutive months of payslips (this applies to contractors only)

We can provide self-employed car and van finance to those that meet the following criteria:

  • Monthly earnings over £1,300 (before tax)
  • Aged between 20 and 75
  • A full valid UK driving licence
  • Tax returns or CIS vouchers
  • 2 consecutive months of payslips (this applies to contractors only)

We can provide self-employed motorbike finance to those that meet the following criteria:

  • Monthly earnings over £1,300 (before tax)
  • A deposit of £0 or £400 (subject to affordability)
  • Aged between 20 and 75
  • Valid A1, A2 or A UK motorbike licence or a valid CBT certificate
  • Tax returns or CIS vouchers
  • 2 consecutive months of payslips (this applies to contractors only)

If you have an IVA

If you are currently within an IVA we will require permission from your IVA practitioner that they are happy for you to enter into a financial agreement with us. This will need to be on letter headed paper, state what your monthly repayments will be and the length of your finance agreement.

Your Direct Sales Consultant will provide you with a form that your IVA practitioner will need to sign if they cannot provide the above letter.

If you have an IVA

If you are currently within an IVA we will require permission from your IVA practitioner that they are happy for you to enter into a financial agreement with us. This will need to be on letter headed paper, state what your monthly repayments will be and the length of your finance agreement.

Your Direct Sales Consultant will provide you with a form that your IVA practitioner will need to sign if they cannot provide the above letter.

Buying your next vehicle

You want to make sure you purchase a reliable vehicle, which doesn’t break the bank. That’s why we’ve put together this helpful guide.

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.

Our application process

It is important to completely understand the car finance agreement that you may be entering – find out more about how a conditional sale agreement works.