Understanding bad credit

Bad credit explained

What does ‘bad credit’ mean? How does it affect me? What can I do to improve my credit score? As experts in vehicle finance, we’ll answer all of your questions and more on bad credit, to help you get the finance for the vehicle you need. If you still have more questions, head to our FAQs or give us a call.

CCJ vehicle finance

If you have a CCJ it can sometimes be more difficult to find a finance lender who will give you the finance you need. It’s important to understand exactly what is meant by ‘CCJ’ and how it affects your ability to be approved for car finance, which is why we’ve created this useful CCJ guide. If you do have a CCJ, we’ll still consider you for vehicle finance so contact us or apply online to see how we can help you.

Vehicle finance with an IVA

Being in an IVA doesn’t have to mean that you can’t get approved for finance for a car, van or motorbike. We’ll always consider you even if you are in an IVA. However, it is important to understand exactly how an IVA can affect your ability to be approved for car finance, which is why we’ve explained what they are and how we can help you in a useful guide.

Self-employed

If you’re struggling to find vehicle finance because you’re self-employed, then why not try and give us a call, we’ll talk through with you all the appropriate options to finance the car, van or motorbike you want. You can also take a look at our self-employed vehicle finance guide to see how we can help you.

How it works

Interested in getting vehicle finance for a car, van or motorbike, but not exactly sure how the process works? Take a look at our guide which tells you step by step how the process works,
how we decide on who gets approved for finance, and answers to any questions you may have.

What is guaranteed car finance?

Have you ever been told you’d be guaranteed car finance? Well be wary, because there is no such thing. We’re all different so it’s impossible to have a product that is one size fits all and vehicle finance is no exception. A vehicle finance provider will always need to know your personal circumstances before offering you finance, and that’s why it can never be guaranteed. Make sure you know the facts before you buy your next vehicle.

Buying your next car

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.

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: £10,207 repayable over 58 months. 57 monthly payments of £325.66. Representative 31.9% APR. Total amount payable is £18,562.62. Subject to affordability and you could risk losing your vehicle if you do not keep up payments.