Our flexible criteria could help you get approved for bad credit car finance.
We specialise in helping people who find securing vehicle finance difficult. Our approach looks beyond just a credit score to give you a fair chance.
We offer Hire Purchase car finance, which is a convenient way to pay for a vehicle based on budget and credit profile.
This lets you spread the cost with affordable monthly payments based on your realistic budget and affordability.
Keeping up with your repayments could help you build your credit score – and boost your chances of being approved for other lines of credit in the future.
Go Car Credit was founded in September 2017, and up to July 2024, we have helped over 30,000 people get car finance.
Representative example – Total amount of credit £9,000, annual interest rate 21.75% (fixed), charge for credit £10,092.32 (£9,787.32 interest, £295 admin fee and £10 option to purchase fee), total amount payable £19,092.32. Loan term of 60 monthly instalments, 59 payments of £318.04 and 1 final instalment of £328.04. 40.9% Representative APR – Subject to status and affordability
Do you fear being rejected for car finance or other forms of credit because of a poor credit history?
As an ethical and responsible lender, regulated by the Financial Conduct Authority, we help people who may have had bad credit in the past and are now experiencing borrowing issues from mainstream lenders.
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 bad credit and have been previously refused by another direct lender or have reduced finance options.
We use a Payment Reminder System also known as a “Black Box” 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 experts in specialist 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:
The below are just some examples of the people we can help:
Even if you have a less than perfect credit history, we may be able to help you.
We consider providing car finance to people who have missed payments in the past or have a less-than-perfect credit history. However, if you have fallen behind on repayments with other credit agreements, it would be in your interest to do everything you can to get the repayments up to date quickly. Doing so may in improve your chances of your car finance application being accepted.
If you’re struggling to find work and are receiving help from the government, that doesn’t mean you should automatically be refused when you apply. We want to help as many people as possible, which is why we offer car finance on benefits.
The flexibility of being your own boss is something many people aspire towards. However, if your income stream is not always predictable then some lenders may be hesitant to approve your application. That is where self-employed car finance can provide the solution.
A guarantor is someone who is liable to repay the money you owe if you cannot, and many lenders may require you to provide a guarantor when you apply. However, all our car finance is with no guarantor, which allows us to focus on helping those with poor credit.
If you have previously been in an IVA we could help you with securing car finance. If you are in an active IVA we are unable to help you at this time. 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. 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 car finance with bad credit as you can still apply for car finance with us, and we can review the application.
“I would definitely recommend Go Car Credit because they treat you like a person and not just a customer. I’d especially recommend if someone has bad credit.”
As with most car finance agreements, the rate and terms you’ll be offered by lenders depend on factors such as your credit score and the size of your deposit – if you are putting one down.
Applying for car finance can sometimes feel as if you’re talking to machines. But, here at Go Car Credit, after initial checks we’ll give you a decision that’s based on a review from an understanding and experienced professional – not just a computer-generated score.
They’ll do their best to put together a personalised repayment plan that you can afford once all your outgoings are accounted for.
Why not use our car finance calculator to get a rough idea of how much your monthly repayments could be? Simply use the sliders to select the amount you need and for how long.
If you are looking for car finance your choice of vehicle is especially important if you have less than perfect credit. Remember to think about all the extra costs including fuel, insurance, road tax and MOT – each will affect its affordability.
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.
As there are numerous credit reference agencies (CRAs) out there using different scoring systems, there is no set answer to this. We can, though, get an idea of what the three major CRAs might deem a good enough credit score for car finance. Remember, regardless of the agency – the higher your score, the better.
Having a poor credit file doesn’t have to be the end of the world.
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 car finance with bad credit.
Here are a few simple things to consider if you want to understand how to get car finance with bad credit – and boost your chances of getting a hire-purchase agreement on a used car from our nationwide network of dealerships.
These will not only improve your chances of getting a car right now, but also could set a foundation for improving your credit file to a desirable level in the future.
The first thing you should look at when considering how to improve poor credit is your credit file itself. You can get access to your full credit history via any of the three major CRAs previously mentioned – Money Helper offers a detailed guide of how to check your credit report. Once you’ve got access, you’ll be able to understand and identify the problem areas in your report, and from there you can consider how to make improvements.
Did you know that one in three (29%) UK adults surveyed found mistakes on their credit report? That’s according to Royal London. It could be an incorrect address, a payment wrongly labelled as missed or even a sign that someone applied for credit in your name. If you spot a mistake, you should always dispute this with a lender or credit reference agency.
A quick and easy way that may boost your chances of getting car finance in the UK with bad credit, is to sign up to the electoral register. This means a lender can prove who you are and where you live. It can also suggest that your current situation is stable.
Do you have a credit card or personal loan already? It’s not necessarily a barrier to getting car finance with bad credit – as long as you’re keeping on track with your repayments. This shows a lender can trust you to pay back what you owe on time. You should be absolutely sure you can keep on top of all your repayments if you need to buy a car but have bad credit. Our car finance calculator can show how much your monthly payment could be if you apply to Go Car Credit.
Do you have any financial links to others that you no longer need? For example, an old joint account or mortgage from a previous relationship? If you do, and the other party involved has poor credit themselves, this may have dragged you down as well.
You can get these black marks removed from your file by issuing a notice of disassociation. Your CRA will need to do some checks first, but once cleared you’ll no longer be linked financially to a negative connection.
We provide Hire Purchase car finance. This means when you come to Go Car Credit for this type of finance, you’ll be hiring your car from us, and your purchase will be secured against the vehicle itself. The car is legally owned by us, and you will be the registered keeper while you make fixed monthly payments across a set period, usually around 36 or 48 months.
Once you have paid the car’s value in full, plus an amount of interest together with the option to purchase and admin fee, the car will be yours.
All ethical car finance lenders specialising in bad credit loans should always perform a credit check. This is to make sure you can afford the monthly repayments on top of your other credit commitments that will appear in your credit history.
An additional way for bad credit lenders to assess your affordability on top of other current credit commitments and bills listed on your credit history, is to ask you questions about all other expenses that are not shown there.
It helps the lender to identify your disposable income each month and this counts towards the total amount they are willing to lend you, and the actual monthly repayment amount.
Go Car Credit offer our existing customers the opportunity to apply for a renewal product with us.
As an ethical lender we will always assess the creditworthiness and affordability of all customers who make an application with us. Whether it is a new customer looking to improve their credit history or an existing customer looking to upgrade their vehicle.
If an existing customer does qualify to renew with us, they could be offered a lower APR on their next vehicle they wish to finance with us.
Before deciding on your car finance application, we’ll first need to confirm your source of financial income. This means if you are employed, self-employed or your income is primarily from benefits, your car finance application paperwork may be different.
If you are employed, you may be required to supply 3 months’ worth of payslips.
If you are self-employed, you may be required to supply 3 months’ worth of bank statements.
For all car finance and loan applications, we are unable to accept tax returns or cash in hand payments as proof of income. All income of the car finance applicant must go into a UK bank account in their own name. However, we can accept proof of income into the bank of your spouse or partner, but they’ll need to be added to the car finance application.
If your income is made up of some benefits you will be required to provide proof of these through your bank statements or confirmation letters from your benefits provider.
We would suggest making sure any outstanding payments are settled and up to date where possible. Any recently missed payments could impact your ability to get a loan.
Determine what you can realistically afford to commit to each month with a car loan. Our finance agreements mean you are going to be committed to the vehicle repayment for 36 months at least.
It's also worth considering the type of vehicle that would be suitable long-term as well as any changing circumstances that may affect this.
Whilst a larger deposit will not improve your credit score, the lender may view a larger deposit as demonstrating your commitment to the car loan agreement. Plus, you are making the value of the vehicle compared to the size of the loan ratio much smaller, which could have an impact on your risk assessment by the lender.
Unfortunately, no, we cannot guarantee you will be approved for car finance with us. We need to carry out checks to ensure you can afford to repay the car loan and it is responsible to lend to you.
We would advise you to be careful when considering using a car finance company that promises guaranteed car finance to anyone in any circumstances. All lenders have approval criteria that have to be met before they can approve a customer for bad car finance.
That will depend on a number of factors, such as the amount you wish to borrow and the length of the repayment period as well as your own financial circumstances.
To give you an idea, check out our bad credit car finance calculator to work out what your monthly repayments might look like.
If you have a bad credit history and experienced issues with getting other forms of credit, you may be paying a higher interest rate.
Our interest rate may be perceived as high compared to other finance providers as we serve a specific sector of the motor finance market in the UK who are usually excluded from getting finance elsewhere.
We have provided these customers with the opportunity to get behind the wheel and be independent.
There are no hidden fees or other small print, and we never try to sell anything else alongside the finance package.
