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Self-employed vehicle finance

If you’re self-employed and have bad credit it can be difficult to get finance for a vehicle. We consider applications even if you’re self-employed and have bad credit.

Self-employed vehicle finance

If you’re self-employed and have bad credit it can be difficult to get finance for a vehicle. We consider applications even if you’re self-employed and have bad credit.

Can I get a vehicle loan if I'm self-employed?

You might think that if you’re self-employed it is near-impossible to get vehicle finance. However, this is not the case. Whilst it is true that you may need to provide some additional information when you’re self-employed, getting a car, van or motorbike on finance is still very much an option with us.

If you’re self-employed, whether running your own business, a contractor, or freelance worker, you’ll need to provide some documentation to prove your identity. We may also need to ask you for documents, for example bank statements with marked up income or payslips, to allow us to complete our affordability checks.

We understand that a car, van or motorbike can be integral to the success of your business. We aim to help provide specialist finance for self-employed people that meet the following criteria:

Can I get a vehicle loan if I'm self-employed?

We understand that a car, van or motorbike can be integral to the success of your business. We aim to help provide specialist finance for self-employed people that meet the following criteria:

Monthly earnings over £1,300 (before tax)
To be aged between 21 and 70
A full valid UK driving licence
2 consecutive months of bank statements

Car finance lending criteria:

Priced between £4,000-£25,000
No more than 120,000 miles on the clock
No more than 15 years old by the end of the agreement

Van finance lending criteria:

Priced between £4,000-£25,000
No more than 125,000 miles on the clock
No more than 12 years old by the end of the agreement

Monthly earnings over £1,300 (before tax)
To be aged between 21 and 70
A full valid UK driving licence
2 consecutive months of bank statements

Car finance lending criteria:

Priced between £4,000-£25,000
No more than 120,000 miles on the clock
No more than 15 years old by the end of the agreement

Van finance lending criteria:

Priced between £4,000-£25,000
No more than 125,000 miles on the clock
No more than 12 years old by the end of the agreement

Self-employed car finance

You might be wondering whether you can get self-employed car finance. We understand that having a car can be particularly important when you’re self-employed. You might find it difficult if you work for yourself and have a poor credit history, or have been turned down by other lenders. Yes, you can still be accepted for car finance even if you are self-employed.

If you already have a car in mind we can provide you with a tailor-made quote today using our car finance calculator, so you can get an idea of repayment amounts. Or, if you’re ready, you can apply today.

Self-employed van finance

We know that having access to a van can be essential for your business. Whether you’re a tradesperson, such as a builder, plumber or electrician, and need a van to carry the tools for work, or you simply require a van to help run and grow your business, we may be able to help you get self-employed van finance.

If you already have a van in mind, try our van finance calculator to get a tailored quote. Or, if you’re ready, you can apply today.

Self-employed motorbike finance

If you’re self-employed and looking for motorbike finance, we may be able to help, even if you have bad credit.

If you have a motorbike in mind, then perfect! We may be able to help as long as it fits our lending criteria. If you haven’t chosen yet, don’t worry! We can help you through the process.

Start your motorbike finance application with us today by applying online.

Being self-employed with bad credit

Being self-employed can make it harder to get a loan, especially if you have bad credit. Not having a reliable monthly income can make it harder to make payments on time which can impact your credit score, and lenders are often cautious about offering finance to someone without the assurance of a regular income.

We specialise in providing vehicle finance for people with bad credit, even if you’re self-employed. This means that even if you’ve been rejected for finance by another lender, we may be able to help you to finance your car, van or motorbike. Spreading the cost of a vehicle over a set period of time can give you the flexibility to afford the right vehicle for your situation.

So if you’re looking for car finance for self-employed with bad credit, or you have a CCJ, or an IVA, you may still be able to get vehicle finance with us. Apply today and we can help guide you through the process.

Frequently asked questions

What documents do I need to apply?

When you make an application, you’ll need to provide some personal details and information about you and your financial situation.

If you are self-employed and wish to enter into an agreement you would then need to provide proof of identification (usually a drivers licence), and your latest 2 bank statements. 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.

Will an application affect my credit score?

With some lenders, applying for vehicle finance can have a negative impact on your credit score because a full credit check is made. When you apply with us we conduct a ‘soft search’ credit check, which has no impact on your credit score. We will only conduct a full credit check if you decide to take out finance with us, once the documents and agreement are generated.

Can I get guaranteed van finance while self-employed?

Guaranteed van finance doesn’t exist. Nor does guaranteed finance for self-employed people. 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 self-employed van finance.

Self-employed car finance

Self-employed van finance

If you already have a van in mind, try our van finance calculator to get a tailored quote. Or, if you’re ready, you can apply today.

Self-employed motorbike finance

If you’re self-employed and looking for motorbike finance, we may be able to help, even if you have bad credit.

If you have a motorbike in mind, then perfect! We may be able to help as long as it fits our lending criteria. If you haven’t chosen yet, don’t worry! We can help you through the process.

Start your motorbike finance application with us today by applying online.

Being self-employed with bad credit

Frequently asked questions

What documents do I need to apply?

When you make an application, you’ll need to provide some personal details and information about you and your financial situation.

Will an application affect my credit score?

Can I get guaranteed van finance while self-employed?

Our application process

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For a better road ahead

Moneybarn is a member of the Finance and Leasing Association, the official trade organisation of the motor finance industry. The FLA promotes best practice in the motor finance industry for lending and leasing to consumers and businesses.

Moneybarn is the trading style of Moneybarn No. 1 Limited, a company registered in England and Wales with company number 04496573, and Moneybarn Limited, a company registered in England and Wales with company number 02766324. The registered address for these companies is: Athena House, Bedford Road, Petersfield, Hampshire, GU32 3LJ.

Moneybarn’s VAT registration number is 180 5559 52.

Moneybarn Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702781)

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

Representative example: Total amount of credit £10,659. Repayable over 58 months, 57 monthly payments of £347.96. Representative 33.5% APR (fixed). Deposit of £884.64. Total charge for credit £9,174.72. Total amount payable £20,718.36. Subject to status and affordability. You could risk losing your vehicle if you do not keep up payments.