No credit check car financing
Are you looking for no credit check car finance? We know how daunting it can be to get a car on finance, especially if you’re worried about being refused car finance. Being declined car finance can affect your credit score so many people search for car finance no credit check when they have a poor credit score already. You could find yourself with a low credit score due to no credit history, missed payments in the past, a default on your credit file or an IVA in your name – all of which can have a detrimental effect on your current credit score. However, when you apply with Refused Car Finance, we can provide no credit check car finance as we only perform a soft search on your credit file. This gives us an idea of your eligibility for car finance and we can then match you with the most suitable lender for your circumstances.
Who would want no credit check car finance?
Many of our customers ask us if a credit check will be performed on their credit file when they apply with us. Applicants may be looking for car finance with no credit check due to their adverse credit history. However, at Refused Car Finance, we understand that your credit score won’t always be perfect and only use a soft search credit check when you apply. This does not harm your current credit score and won’t be recorded on your credit file. We instead choose to focus on your car finance affordability and as long as you can prove you can afford to pay back your car finance deal, on time and in full, we can help you! Our lending panel has been specially designed with bespoke car finance packages that can be suited to people with good or bad credit.
Why do car finance lenders use a credit check?
If you’re looking for guaranteed car finance no credit check, you may struggle. Car finance lenders use credit checks to comply with guidelines set by the Financial Conduct Authority. They are required to vet each car finance application and adhere to the rules of responsible lending. It would be unethical for lenders to offer car finance to everyone without knowing if they can afford to pay the finance back and also see how they have handled credit in the past. As a car finance broker, we take your application and put it in front of the most suitable lender for your circumstances and help you get the car finance approval you’re after.
Types of car finance credit checks:
Soft search credit check
A soft search credit check is a great way to check your eligibility for car finance without harming your score. Our online application form uses a soft search credit check only and is not recorded on your credit report. A soft search check also only gives the lender a glimpse of your credit report and they don’t get full access to the information listed on it. Unlike hard searches, you can also make multiple soft searches in a short space of time and it won’t affect your current score.
Hard search credit check
Hard search credit checks can sometimes be unavoidable but are usually only performed when you have chosen the lender and have already been pre-approved. A hard search is when a lender or company takes a full look at your whole credit report and also gets access to your current credit score. If you’re wondering why your credit score has dropped, it may be due to multiple hard searches in a short space of time. Where possible, you should stick to soft searches only to help protect your current credit score.
Which cars can I get on finance with no credit check?
One of the biggest benefits of using a car finance broker like us is the freedom you have when it comes to choosing a car. If you’ve got approved for car finance with no credit check necessary, you can then choose the car you want within your financial budget. Our car finance experts work with you to choose the car you want from any trusted dealership across the UK. Yes, that’s right! You can choose any car from any dealer as long as the dealership is verified by the FCA. What’s more, is that all our cars come with a FREE 3-month warranty for added peace of mind!
How does no credit check car financing work?
At Refused Car Finance, we work harder than any other bad credit broker to get the approval you’re and it’s as easy as 1,2,3!
1. No impact quote
Make a quick online application with us with no effect on your current credit score. You will be assigned your very own personal finance expert who will get straight to work with finding you the best car finance deal.
2. Get a fast decision
We take your application and put it in front of some of the most trusted car finance lenders in the UK who offer bespoke finance packages. We then work to secure the best deal for your circumstances and once you’re happy, all that’s left to do is sign the paperwork!
3. Choose the car you want
With your finance deal in place, we then help you find a dealer and car that’s right for your budget. Our finance experts are with you every step of the way to make sure you get the car you want from an FCA-approved dealer anywhere in the UK!