Bad Credit Car Finance

Rates from 29% APR
(49.6% APR Representative)
Subject to status and affordability

Can I get car finance if I have bad credit?

Yes, if you have bad credit, it is possible to get car finance to help purchase your next car.

We offer a specialist form of Hire Purchase car finance, our criteria could help you get approved for car finance even if you are struggling to get other forms of credit such as a personal loan.

It is a convenient way to pay for a vehicle based on budget and credit profile, so you can get affordable monthly payments.

Go Car Credit was founded in September 2017, and up to September 2021, we have helped over 19,000 people who may have been refused elsewhere, to get car finance.

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Representative example – Total amount of credit £4750, annual interest rate 25% (fixed), charge for credit £3572.48 (£3562.48 interest charged and £10 option to purchase fee), total amount payable £8322.48, 36 monthly instalments of £231.18. 49.6% APR Representative. – Subject to status & affordability.


How does Bad Credit Car Finance work?

We use a Payment Reminder System also known as “Black Box Car Finance” which allows us to provide loans to those who other lenders may have rejected.

If you do have bad credit you may have been looking for instant decision car finance with no credit check, we could help you as we are specialists in bad credit car finance.

After you have made an application and once passing initial checks, applications we receive are reviewed by the employees themselves and not just a computer program. This approach allows us to consider any extenuating circumstances such as a poor credit history, self-employment or income from benefits.

We could provide you with the opportunity to re-establish your credit rating and get you back on track.

We have made our Car Finance process as easy as possible for you:

  • 1: Apply for Car Finance with us.
  • 2: Our Underwriting department will review your application.
  • 3: We will help you find your ideal car from an approved dealership.
  • 4: E-Sign the paperwork online and drive away!

What affects being approved for car finance with poor credit?

We are happy to consider providing car finance to people who have missed payments or have a less than perfect credit history. However, if you have fallen behind on repayments on other credit agreements, it would be in your interest to do everything you can to get the repayments up to date quickly in order to improve your chances of being accepted for no guarantor car finance with bad credit.

Do you currently have an IVA (Individual Voluntary Arrangement)? If so, we will need written confirmation from your Insolvency Practitioner that they are happy for you to borrow again. If you have had an IVA in the past which has been settled, then you are welcome to apply for our car finance.

If you are currently in bankruptcy, unfortunately, we are unable to help at the present time. Our car finance blog, features articles on how to manage debt, helpful tips to improve your credit rating and general information about the poor credit used car buying process, so keep an eye out for these articles, which may be of help to your current financial situation. If your bankruptcy has been discharged, then we will be happy to consider you when you apply for car finance.

If you have an outstanding CCJ, that does not mean it is the end of the road when it comes to applying for bad credit car finance, as you can still apply for car finance with us, and we can review the application.



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Top tips for rebuilding poor credit

What is your credit score?

Your credit score is a three-digit number which is calculated by using information from your credit report.

You can find out your credit score and review your credit report from one of these credit reference agencies:

Why is your credit score important?

Having a bad credit score can mean you only have access to specialist bad credit finance lenders with higher APR than mainstream lenders such as your bank.

If you work on improving your credit profile, by keeping up on your poor credit loan repayments and other credit commitments, you may be able to access lower APR credit options for a range of services in the future such as:

  • 1: Mortgages
  • 2: Loans
  • 3: Utilities
  • 4: Mobile phones
  • 5: Car and Home insurance

How you could improve your credit score

Try to make sure that all outstanding credit is going down and regular on-time payments are being made.

Make sure you are on the electoral register. If you are not listed, it may be more difficult for you to get credit.

Give it time and stick with making your full monthly repayments, as it will show to credit lenders you are committed to repairing your credit and may be perceived as less of a risk to lend to.


How to get car finance with bad credit

Focusing on improving your credit file can be a good start, but there are other ways you could consider boosting your chances of getting car finance with poor credit:

No deposit is needed for our bad credit car loans, however, offering one would contribute towards reducing your monthly repayments and increase the affordability of which vehicle you can choose.

We will only lend what you can safely afford to repay each month over the term you have agreed to pay back. We calculate the car finance for bad credit we can offer you by comparing your current monthly income to your monthly expenditure.

By working out your own income and expenditure and using our poor credit car finance calculator, you can get an idea of what you will be able to afford before you apply with us.

Choice of vehicle is an important part of the car finance application if you have below average credit. I would suggest you think about the costs associated with your choice of car such as fuel, insurance, tax, MOT, servicing and maintenance costs, as these will all have an influence on the affordability of the vehicle.


Does ‘Guaranteed Car Finance’ actually mean it’s guaranteed?

Many companies offer ‘guaranteed car finance’, we are specialists in providing car loans for people with bad credit, but the fact is no finance company lending to people who may have had a less than perfect credit profile can guarantee that you will be accepted. Go Car Credit has lending criteria that need to be met and taken into consideration when reviewing your application.

We will work with you to ensure we fully understand your financial situation if you have a poor credit history and ensure the monthly repayments are affordable.


If I have been rejected by other bad credit lenders, does that mean I cannot get car finance with you?

Not necessarily, as there are many reasons you could be refused car finance, and lenders may not tell you why you have been rejected.

It could be due to not meeting their minimum criteria for income amount or recently missing payments on other credit commitments or bills, or even a very short time in a current employment.

All bad credit lenders will have their own different personalised criteria and methods of assessing whether they feel you can safely afford and that you will be committed to making the monthly repayments.

If you suspect you have been repeatedly denied car finance due to recent defaults, you could have a better chance at being approved by only applying for car finance with bad credit after a substantial amount of time has passed, and only if your credit commitments are starting to be repaid on time every month.

This is so that these recent repayments are reflected on your credit history and may increase the confidence of the lender in your ability and commitment to maintain loan repayments.


Could my credit score be too low to get approved for car finance with poor credit?

If you have a bad credit history, then that could be contributing to a low credit score on your credit history.

The credit score on your credit history is not solely used to make a decision whether to approve you for a loan.

Poor credit car finance specialist lenders use their own criteria and methods that are usually much more relaxed than a mainstream lender such as a bank, who may automatically decline someone based on credit score.


Why should I choose Go Car Credit to finance my next car?

We are at your service to guide and support you all the way through the car finance process.

We want to make sure your experience is straightforward, stress free and efficient, from making your application to driving away in your new car.

We could help you get the car finance you need even though you have been refused by other direct lenders.

  • Benefits Income: We will take benefits into account when calculating your income and monthly repayments for car finance with us.
  • Unemployed or Self-Employed: As long as you are able to prove to us that you have a steady monthly income and can safely afford the car finance repayments every month, we can consider your application.
  • No Deposit: You don’t have to provide a deposit with us, but it would mean your monthly repayments would be lower if you can.

What are the risks of getting car finance?

As with all types of loan and credit agreements, there are some risks. Here in the UK, car finance is regulated by the Financial Conduct Authority and lenders must follow responsible and ethical lending practices. The finance is secured on the vehicle, so if you don’t keep up with the monthly repayments, Go Car Credit can repossess the car.

Similarly, failure to make payments can also affect your credit report and give you a bad credit profile. To help people who have a bad credit profile, Go Car Credit will look at your income and expenditure to ensure that you can safely afford the repayments.


Bad Credit Car Finance FAQ's

Can I get car finance with a poor credit history?

We are specialists in providing car finance to people who have experienced bad credit in the past, so if you have missed payments in the past, we could help you secure the car finance you need.

Our lending decisions are based on a blend of science and human judgement to understand whether the repayment schedule will be manageable for the customer.

This approach allows us to consider any extenuating circumstances such as a poor credit history, self-employment or any previous mortgage or council tax arrears and view you as an individual, not just a number.

Can I get a car with bad credit and no deposit?

It could be possible. We don’t require a deposit for your car finance agreement with us. A deposit can help your application. For example, if the vehicle you would like to finance is more than we can lend you may need to add a deposit to make up the difference.

Does bad credit car finance affect my credit score?

At the start of your bad credit car finance application with us we will only do an initial soft search. Once you are fully committed to taking out finance we will carry out a credit search. Lots of credit searches can affect your credit profile.

Missed payments on your bad credit car finance agreement with us are very likely to have a negative affect on your credit file so it is important you are sure you can afford the repayments.

What credit score do you need to finance a car?

We are specialists in bad credit car finance and help people who may have had trouble obtaining finance elsewhere. We do this by looking at your affordability as opposed to credit scoring. We do perform a credit search to review your financial history, but our lending decision is not solely based on this.

Is it possible to get car finance for bad credit with no guarantor?

Yes, it could be. We are happy to consider providing car finance to people who have missed payments or have a bad credit history. However, if you have fallen behind on repayments on other credit agreements it would be in your interest to do everything you can to get the repayments up to date quickly in order to improve your chances of being accepted. We do not offer guarantor car finance.

What type of car finance can I get with poor credit?

Here at Go Car Credit we can offer hire purchase car finance. This type of car finance provides people the chance to buy a vehicle without having to pay for the total in full before they can drive it away.

You will be hiring your car from us and your purchase will be secured against the car itself.

That means the car is legally owned by us and you will be the registered keeper while you make fixed monthly payments across a set period of time.

Once you have paid the car’s value in full, plus an amount of interest together with the £10 option to purchase fee, the car will be yours.

Can I get car finance if I've been made bankrupt?

If you are currently in bankruptcy, unfortunately, we are unable to help at the present time. If your bankruptcy has been discharged, then we will be happy to consider you when you apply for car finance.

Can I get car finance with no credit history?

Not having much of a credit history can be a obstacle to getting car finance. So you may have to put that new car on hold for around six months as building up a credit history requires a little time.

Make sure you’re on the electoral roll – it lets lenders know you have a permanent address. Open a bank account and manage it responsibly by paying bills on time and setting up direct debits for bills. Try not to use your overdraft if you can avoid it, but if you do have to, make sure you settle the balance before any charges are applied.