It may still be possible to buy a used car if you have bad credit.
At Go Car Credit, we are a direct lender that specialises in bad credit car finance.
We know a credit score does not always tell the full story.
We look at your current situation and whether the finance looks affordable for you.
During the first stage of the application, a soft search will be carried out.
This will not leave a mark on your credit file.
If you later decide to continue with a finance agreement, a hard search may then be completed.
We offer hire purchase car finance on used cars across the UK.
Can I get used car finance with bad credit?
Yes, you may still be able to get used car finance if you have bad credit.
Some lenders help people who may have had money problems in the past.
This could include missed payments, defaults, CCJs, arrears, or limited credit history.
Different lenders use different checks when reviewing applications.
Being refused elsewhere does not always mean every lender will say no.
At Go Car Credit, we look at more than just your credit score.
We also look at affordability and your current financial situation.
How does used car finance work?
Used car finance lets you spread the cost of a car over monthly payments.
This means you do not need to pay the full amount upfront.
At Go Car Credit, we offer hire purchase finance.
You make fixed monthly payments over an agreed term.
During the agreement, the car is secured against the finance.
Once all payments have been made, ownership of the car passes to you.
Your monthly payment will depend on the vehicle price, deposit amount, and agreement length.
How affordability is checked for used car finance
Lenders must check that car finance looks affordable before offering an agreement.
This means looking at whether the monthly payments may fit your current budget.
A lender may review your income and regular credit commitments.
The car you choose may also affect the monthly payment.
A more expensive car may cost more each month.
Running costs may also be higher.
This could include fuel, insurance, road tax, and MOT costs.
All finance applications are subject to status and affordability.
Why people may have bad credit
There are many reasons why someone may have bad credit.
This could include missed payments, defaults, money problems, or changes in income.
Some people may also have a limited credit history.
Having bad credit does not always mean car finance is impossible.
Some lenders specialise in helping people with poor credit histories.
At Go Car Credit, we understand that people’s circumstances can change over time.
What is a soft search for car finance?
During the first stage of the application, a soft search will be carried out.
A soft search lets us review some details from your credit file.
This does not leave a visible mark that other lenders can see.
If you later decide to continue with a finance agreement, a hard search may then take place.
This may affect your credit rating with some lenders.
You can learn more about credit searches by visiting MoneyHelper.
Can I get used car finance while on benefits?
Yes, some people who receive benefits may still be able to apply for used car finance.
This will depend on your income and whether the monthly payments look affordable.
Some lenders may consider benefits as part of an application.
At Go Car Credit, we may look at applications from people who receive certain benefits.
You can learn more about car finance on benefits on our website.
Do I need a deposit for used car finance?
You do not always need a deposit for used car finance.
Some people may be able to apply with no deposit.
This will depend on the car and your finances.
A deposit may help lower the amount borrowed.
It may also help lower the monthly payment.
All finance is subject to status and affordability.
Will I pay more if I have bad credit?
Some people with bad credit may pay more for car finance.
This is because bad credit may be seen as a higher risk by some lenders.
The amount you pay will depend on your application and the car you choose.
It may also depend on the deposit amount and the agreement length.
Before taking finance, it is important to make sure the monthly payments fit your budget.
Can bad credit car finance improve my credit file?
Paying on time may help your credit file over time.
It can show that you are keeping up with credit.
Missed payments can harm your credit file.
If you think you may miss a payment, speak to your lender as soon as you can.
Why choose Go Car Credit for used car finance?
Go Car Credit is a direct lender specialising in bad credit used car finance.
We work with customers across the UK.
We understand that many people may have faced money problems in the past.
Our application process includes a soft search first.
This helps you find out whether you may be eligible without leaving a mark on your credit file.
We also offer an online car finance calculator.
This can help you estimate possible monthly repayments before applying.
Frequently asked questions about used car finance with bad credit
Can I get used car finance after being refused elsewhere?
Yes, you may still be able to apply for used car finance.
Some lenders may use different checks from others.
Does applying for car finance affect my credit score?
Your first application may include a soft search.
A soft search does not leave a visible mark on your credit file.
If you go ahead with finance, a hard search will then take place.
What type of finance does Go Car Credit offer?
Go Car Credit offers hire purchase car finance.
Can I apply for finance on an older used car?
Some older used cars may still be accepted for finance.
The car must not be more than 10 years old at the start of the agreement.
Is bad credit car finance guaranteed?
No, bad credit car finance is not guaranteed.
All finance applications are subject to status and affordability checks.
