Think the switch to electric is only for people with perfect credit scores and brand-new cars? Think again!
At Refused Car Finance, we believe that everyone deserves the chance to drive a reliable, modern vehicle, regardless of their credit history. With the 2035 petrol and diesel ban on the horizon, more and more drivers are considering electric cars to save on fuel costs and reduce their environmental impact.
But can you really get used to electric car finance if you’ve been refused elsewhere? The short answer is: we can certainly help you explore your options. Here is everything you need to know about potentially getting an EV on the road with a less-than-perfect credit score.
Why Choose a Used Electric Car?
Electric vehicles (EVs) have come a long way in the last few years. While a brand-new Tesla might be out of reach for some, the second-hand market is now full of fantastic, affordable options. From the popular Nissan Leaf to the stylish Renault Zoe, used electric car finance lets you access high-tech cars at a fraction of the original price.
Choosing a used EV isn’t just about being eco-friendly; it’s also about being budget-friendly. With fewer moving parts than traditional engines, EVs often have lower maintenance costs, and you’ll never have to worry about the rising price of petrol or diesel again.
Can I Get Electric Car Finance with Bad Credit?
We hear this question a lot! Many traditional lenders have strict “tick-box” criteria that make it hard for people with lower credit scores to get approved for electric car finance.
At Refused Car Finance, we do things differently. We specialise in helping drivers who mainstream banks have turned down. We focus on your current affordability, what you can actually afford to pay each month, rather than just looking at mistakes from your past. Whether you have CCJs, defaults, or are self-employed, we work with a specialist panel of lenders to try to find a deal that fits your circumstances.
Don’t Forget Electric Vans!
It’s not just car drivers making the switch. Business owners and sole traders are increasingly looking for electric vans to avoid ULEZ charges and reduce overheads. If you need a van for work but your credit score has taken a hit, we can help you explore finance options for electric commercial vehicles, too. Securing finance for vans can be a little trickier, but we will work to get you a competitive deal.
How the Process Works
We’ve made getting a quote as simple and stress-free as possible:
- Apply Online: Fill out our quick application form. It only takes a few minutes and uses a “soft search,” so it won’t affect your credit score during the initial stage.
- Wait for a Decision: One of our friendly finance experts will do the legwork for you, searching our panel of lenders to see if they can offer you a deal.
- Choose Your Car: If approved, you can choose your used EV from any reputable, FCA-approved dealership in the UK.
Ready to Go Green?
The world of electric cars is more accessible than ever before. If you’ve been refused elsewhere, don’t let that stop you from looking into a cleaner, more cost-effective way of driving. While we can’t guarantee approval for everyone, we specialise in looking at the “whole picture” to help you get back on the road.
Apply for electric car finance today and see what we can do for you!
Representative Example:
In the last 6 months, over 51% of Refused Car Finance customers who had their loan arranged were offered an APR of 19.9% or lower. Rates may differ as they are dependent on individual circumstances.
19.9% APR. £7,300 balance to finance. Monthly payment: £186.51 x 60 months. Total amount payable: £11,190.60.
Refused Car Finance is a trading style of UK Car Finance Limited. All finance is subject to status and income. Applicants must be 18 or over, terms and conditions apply, and guarantees and indemnities may be required.