Do you have a question about making a car finance application with us today?
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Rates from 29.7% APR
40.9% Representative APR -
Subject to status and affordability
When you think about making an application for car finance, a credit check is probably the first thing that springs to mind. It’s an essential step, but it’s also worth noting the specifics of this process at Go Car Credit.
At the very beginning of your application, we’ll carry out a soft search that won’t impact your credit file. This gentle check allows us to gauge your credit standing without any influence on your credit score. However, upon your confirmation to proceed with a finance agreement with us, a hard search will be conducted, and this could have an effect on your credit rating when viewed by certain lenders.
While credit checks are a legally required part of every application, they’re not the only factor that comes into play. Affordability, for example, plays a big role in our checks. This ensures that we can make it possible for you to buy a used car, even if you have bad credit.
Let’s dive deeper into what’s considered for car finance deals here at Go Car Credit, so you can get a clearer picture of how we’ll handle your application.
If you have CCJs, defaults or arrears, you might wonder if a no credit check car finance deal is possible. While credit checks are mandatory, they shouldn’t be a cause for concern. We understand that it isn’t always easy to maintain a perfect credit history. That’s precisely why we founded Go Car Credit: because we recognise the challenges many face when seeking credit.
With a philosophy built around ethical and responsible lending and treating customers fairly, we specialise in helping people who may have bad credit and are finding it hard to get car finance.
So, if you’ve been refused finance in the past, got missed payments on your credit report or had difficulty maintaining good credit during periods of self-employment, we may still be able to find a finance plan that suits you.
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
Everyone who makes an application for car finance goes through a series of checks to determine their eligibility, covering such checks as:
At Go Car Credit, we do the majority of our underwriting manually, so a large number of applications are not approved or rejected automatically based on the data you provide. We carry out more rigorous affordability checks than most to make sure you have every chance to get the car you want and can afford, so you won’t get declined at the point of application.
Affordability is one of the factors we consider at Go Car Credit when it comes to finding you the right deal on the right car. Finance is not based entirely on affordability, but it is a significant factor when working out your eligibility to borrow and, of course, how much.
When it comes to affordability, car finance can be an area of concern for some drivers with bad credit, but it needn’t be. All it means is that you’ll be checked for your ability to keep up with payments on a car finance deal, which you’d expect from any kind of finance arrangement. It is a lender’s way of determining whether or not they think you can afford to get a car on finance without defaulting on repayments.
During the application process, Go Car Credit will look at your income and outgoings through the information you provide. You’re maybe asked to supply payslips if you’re in full-time employment. If you’re self-employed, you might be asked to provide bank statements to confirm your income.
Affordability checks can also include expenses on necessary items each month, such as toiletries, your food shopping, energy bills, so you can rest assured we’ll take your full circumstances into account to reach a fair decision.
When you feel ready to apply for car finance, you can click on that link to start an initial application process with us – don’t worry, everything is explained along the way (because getting a new car should be exciting, not scary!).