Self Employed Car Finance For Those With Bad Credit

self-employed car finance characters

Car Finance for Self-Employed

If you are self-employed or have bad credit you may be struggling to secure finance for your next car purchase.

We could help you get the finance you need for the car you want. We get asked questions about car finance and being self-employed all the time, so we thought it was worth dedicating some information to explain how we can help people secure car finance if you are self-employed and or have bad credit.

Here at Go Car Credit we are aware that many people choose to be self-employed following the recession in 2009. According to the Office of National Statistics in 2014 self-employment was at its highest point over the past 40 years. In 2014 4.6 million people were self-employed in their main job accounting for 15% of those in work.



We asked our car finance specialists to explain how they review applications when the customer is self-employed

• You will be required to prove your income. We ask for 3 months’ worth of bank statements as proof of income

• We do not accept tax returns as proof of income

• We do ask to see 3 years’ worth of employment history

• We also require 3 years’ worth of address history. You must be a UK resident for 3 years or more to apply for car finance

• We will total the income in the last 3 months showing on the bank statements and divide this by 3 to get an average income and set a credit limit based on provable income.

• We cannot take cash in hand payment as a provable income. It must go into a UK bank account in your name or we can accept proof of income into a bank account in the name of your spouse or partners, but they will also need to be added on to the finance application.

• Generally lenders like to see stability in employment and address history so the longer you have been at your current job and current address the better.


We can finance cars for people who are self-employed or have bad credit so apply today, it only takes a few minutes. Once you’re accepted you’ll be able to buy a car from any of our approved dealers and no deposit is required.

It really is an easy process so apply now and get a free no obligation quote.