Affordable Used Car Finance
Are you searching for a reliable and affordable used car on finance? We can help! We offer a variety of used cars for sale that you can finance, or you have the option to source your own. The advantage of working with a car finance broker like us is that we do all the legwork for you. We’ll assist you in obtaining the car finance approval you need, allowing you the freedom to choose the vehicle you want from a reputable dealer. Let’s explore how financing a used car works.
What is Used Car Finance?
Used car finance functions similarly to other types of car finance agreements. Just like financing a new car, used car finance allows you to spread the cost of your chosen vehicle over time through affordable monthly payments, which include added interest. The interest rate you receive may depend on several factors, such as your affordability or credit history.
However, as a car finance broker, we have access to a wide range of UK lenders and can help you find the lowest interest rate available. Our team of car finance experts is here to guide you throughout the process, answering any questions you may have and liaising with both the lender and car dealer on your behalf.
How to finance a used car
Financing a used car is easy with Refused Car Finance. Since 2015, we have been helping people with adverse credit histories get approved for car finance. The process is simple and consists of three easy steps:
1. Tell us about you
Our online application form only takes a couple of minutes to complete and doesn’t impact your current credit rating!
2. Get the best used car finance deal
You will be assigned to a personal car finance expert who will get you the best deal from some of the most trusted finance lenders in the UK.
3. Enjoy your car
Once, you’ve agreed and signed the paperwork, you can get a car within your budget from any FCA approved car dealer across the UK.
Which used cars are available on finance?
When you take out a finance deal with us, you have the freedom to select a car from anywhere! All we ask is that you choose a dealership that has been verified by the FCA. This gives you access to thousands of used cars across the UK with an affordable car finance deal in place.
Used car financing bad credit
We believe that having a bad credit score shouldn’t prevent you from obtaining a used car on finance. Our mission is to change the narrative and help as many individuals as possible secure the financial approval they need. We are one of the leading specialist car finance brokers in the UK, dedicated to assisting people with low credit scores in getting accepted for finance. All of our used car finance deals are affordable and tailored to your budget, adhering to responsible lending practices.
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“The whole process was so easy. Sean sorted finance within minutes and told me to find a car and send him a link. I did, and within a couple of hours it was bought and I went to get it a few days later. I was very happy with the service and I’m very happy with my new car. I would definitely recommend contacting these guys if you need car finance.”
– Paul from Ballymena
Source: Reviews.io
Types of car finance deals available
Hire Purchase (HP)
At Refused Car Finance, we specialise in hire purchase agreements. This is a straightforward way to spread the cost of your used car into manageable monthly payments. With a hire purchase agreement, you repay the total cost of your chosen car over a set number of years. Your monthly payments are fixed, and the interest rates remain constant throughout the term of the agreement. Once all payments are completed, you can pay a small ‘option to purchase’ fee if you decide to keep the car.
Personal Contract Purchase (PCP)
Personal Contract Purchase (PCP) is a flexible and popular method for financing your next car. Unlike a hire purchase deal, you don’t pay back the total cost of the car; instead, you only pay for a portion of it, resulting in lower monthly payments. At the end of the PCP agreement, you have three options: you can hand the car back to the dealer, pay or refinance the balloon payment, or use the car’s value towards a new PCP deal for a different vehicle.
Ready to get started?
Apply for used car finance using our free, no-obligation form and you could be driving your new car by the end of the week!