We can provide finance for people who have had difficulties obtaining credit in the past,
if we can’t approve you, we don’t think anyone can!

Bad Credit Car Finance

Smiling man with bad credit happy with his new car purchase

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 WHAT IS BAD CREDIT CAR FINANCE?

Bad credit car finance is exactly the same as any other type of car finance. We believe that buying a car should be easy and accessible for all, no matter what your personal circumstances may be.

If you have bad credit it can be tough getting the money together for a new car. Thankfully there are now many options available to people who have limited funds and a poor credit score. There are many lenders we work with that can offer no deposit car finance so you can get on the road quicker. Even if you have missed payments or have defaults in your credit history, we believe that you should still be able to find car finance at the best rate possible.

At Refused Car Finance we don’t want to judge a person solely on their history. We take into account your current situation to look at what you can afford to repay and find you the best lender based on your personal circumstances. Due to working with a wide range of lenders, we can find the best rates available for each individual.

If you are looking to improve your credit score we have some fantastic tips over on our blog. Our customer care team can also provide some expert advice.

Call operator for bad credit car finance

These types of records made on your credit file will affect your ability to apply for credit from various credit brokers and lenders but we believe that as long as you can prove you can afford a loan, are free from bankruptcy and you are over the age of 18 then you should be able to get finance for your new car.

WHAT IS RECORDED ON MY CREDIT FILE?

There are several records that will be made on your credit file:
Missed Payments: This is fairly self-explanatory, but when you miss a payment a lender will record this on your file. It won’t be likely you will be declined if you apply for credit, but you will be seen as having an increased risk.

Defaults: When you fail to meet the legal obligations of your finance agreement due to missed payments, or not repaying at all, then a default is recorded on your credit file by the lender. This note will remain on your file for 6 years and will most likely rule out you being able to borrow from mainstream lenders and banks.

County Court Judgements (CCJs): A County Court Judgement is essentially a court order which allows the lender to begin doorstop debt collection when you have failed to keep up with payments. This is the most serious outcome apart from bankruptcy.

Bankruptcy: If you have been declared bankrupt, then you will be declined for an application for credit, even if you apply to bad credit specialists. Bankruptcy is the final stage in the process for lenders or creditors to retrieve the money owed to them, but you can also apply for bankruptcy yourself as a means to pay off your debts.

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Can I apply even if I have bad credit?

Yes. Our whole business model is designed to help people who have currently, or in the past, had a poor credit rating.  We match our customers with the best lender for them and ensure the lowest rate possible in line with our responsible lending policy and procedures. If you have further questions about bad credit car finance then please feel free to contact us.

What does bad credit car finance include ?

Car finance for bad credit is no different from any other car finance agreement. You agree with a lender to pay a certain amount of money each month, every month, for a fixed term. A bad credit car loan is usually taken on terms of 1-6 years, and the APR depends completely on your personal circumstances.

How to get car finance with bad credit?

To secure a bad credit car loan you need to first fill out our short application form. We will then do the hard work for you, matching you up with the most suitable lenders to get you the best bad credit car finance package. A member of our customer care team will be in contact to talk you through the finance offers you have received. Once you have accepted the best offer, we will sort out the paperwork so you can shop around for your new car. It really is that simple!

Car Finance, Bad Credit, Instant Decision!

We are proud to be able to offer you an instant decision on your application.

Remember having bad credit is no obstacle to being approved for car finance. Apply for your bad credit car loan today and let us help you get the best car finance deal!

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Registered with Information Commissioners Office ICO Registration Number: ZA132327

UK Car Finance Limited. Registered in England
Registered number 9397657.
Registered Office Lakeside House, 30 Northumbrian Way, Newcastle Upon Tyne, NE12 6EH

Refused Car Finance is a trading style of UK Car Finance Limited and is acting as a licensed credit broker and a lender, we are authorised and regulated by the Financial Conduct Authority, registration number 714966. All finance is subject to status and income. Applicants must be 18 or over, terms and conditions apply, guarantees and indemnities may be required.

Written quotations on request. Certain exclusions for NI residents.

Note: We cannot be held responsible for specification errors, and price errors, we use Motortrade software which is not always 100% accurate. Copyright 2017 Refused Car Finance.

Refused Car Finance can introduce you to a limited number of finance providers based on your credit rating and we may receive a commission for such introductions.

*Representative Example
Cash price – £8,500.00, Deposit – £0.00, Amount of credit – £8,500.00, Rate of interest – 16.24% per annum, Amount of interest – £6,912.00, Lender Documentation fee – £0.00, Lenders option to purchase fee – £10.00, Total charge for credit – £6922.00, First repayment – £256.70, Followed by 58 Monthly repayments of – £256.70, Final repayment – £266.70, Total amount payable – £15,412.00, Representative APR – 29.9%

*Last month, over 51% of Refused Car Finance customers that had their loan arranged were offered an APR of 29.9% or lower

In the first 3 months of this year, UK Car Finance Ltd received 2140 unique applications, of which we were able to offer 2136 applicants a line of credit, subject to the applicant being able to provide acceptable proof of affordability, being free from insolvency and or/a supporting guarantor fitting the lenders eligibility criteria, this represented 99.8% of applicants in this period.

Rated No.1 for car finance in the North East of England collated from Google Business Reviews

Refused Car Finance Reviews

4.90 Average

89 Reviews

sorted me out with a great car finance deal despite my poor credit history, I recommend them

Jacob was friendly, Enthusiastic and knowledgeable, found me a great deal on my finance considering my low credit rating !!! Many thanks !!!

Excellent communication and the rep Dan kept me informed of all updates and rang me on time he said excellent all round service