If you are not sure whether you meet the criteria for used car finance, this page explains what we usually look at when we review an application.
We look at more than one thing when deciding whether car finance may be suitable. This includes your income, credit history, regular spending, and the vehicle you want to buy.
You may worry about applying because you have a poor credit profile, income from self-employment, or income from benefits. These things do not always stop someone from being considered.
We start with a soft search. This does not leave a mark on your credit file. If you choose to continue later in the process, we will then carry out a hard credit search.
Approval is not guaranteed. Any decision will depend on your circumstances and whether the finance appears affordable.
Step 1: Calculate your monthly repayments
Step 2: Apply and track your application online, in real time (No login or app needed!)
Representative example – Total amount of credit £10,500, annual interest rate 18.25% (fixed), charge for credit £9,886.25 (£9,581.25 interest, £295 admin fee and £10 option to purchase fee), total amount payable £20,386.25. Loan term of 60 monthly instalments, 59 payments of £339.60 and 1 final instalment of £349.60. 34.5% Representative APR – Subject to status and affordability.
To be considered for car finance with Go Car Credit, you will usually need to meet the main criteria below.
If you meet these points, we may be able to consider your application.
We may also consider people who have been declined elsewhere. Different lenders use different criteria.
When you apply, we look at three main areas to help us decide whether car finance may be suitable.
We look at your address history, credit history, and income. We also look at how stable your situation appears.
We review the price of the car, how much you want to borrow, and whether you want to pay a deposit. The vehicle must also meet our lending criteria.
We look at whether the monthly payments appear affordable. We also look at whether the payments are likely to stay manageable over the full agreement term.
A few things can affect whether car finance may be right for you.
This can include your income, credit history, regular payments, address history, and the car you want to buy.
There is no single credit score that guarantees approval.
Missed payments, defaults, or money problems in the past may affect your application. However, they do not always stop someone from being considered for car finance.
We look at your full situation and whether the payments appear affordable for you.
We may consider different types of income. This can include income from employment, self-employment, and some benefits.
Your income will usually need to be paid into a bank account in your name.
We may ask for proof of income, such as payslips or bank statements.
If your application moves forward, we may ask for documents to support your details.
This can include photo ID, proof of income, and proof of address.
The documents needed can vary depending on your circumstances.
As a responsible lender, we need to make sure the car is suitable for the finance agreement.
The car must meet the rules below before we can lend.
It is also important to think about day-to-day running costs.
This can include fuel, insurance, road tax, MOT costs, servicing, and repairs.
The finance is secured on the car. If repayments are not kept up, the car may be repossessed.
Go Car Credit offers hire purchase car finance.
With hire purchase, you make fixed monthly payments over an agreed term.
Once all payments and any required fees have been paid, the car becomes yours.
In some cases, a deposit may not be needed. This will depend on your application and the vehicle you choose.
Go Car Credit offers car finance to people with different credit backgrounds.
This includes people with poor or bad credit.
We look at more than just a credit score.
We also look at your income, regular credit commitments, and whether the payments appear affordable.
Go Car Credit is authorised and regulated by the Financial Conduct Authority (FCA).
You can also read customer reviews about Go Car Credit on Trustpilot.
We aim to keep the process clear and easy to understand.
You can start by completing our online application form.
We will then review your details and check whether the finance may be suitable for you.
This includes checks on affordability, credit history, and your current situation.
If your application is approved, we will give you a credit limit.
You can then choose a suitable used car from one of our approved dealerships.
If you decide to go ahead, we will complete the final checks before the agreement is signed.
No. We do not look only at your credit score.
We also look at your income, regular credit commitments, credit history, and current situation.
Go Car Credit specialises in bad credit car finance.
We may still be able to consider people who have had trouble obtaining finance elsewhere.
No. There is no single credit score that guarantees approval.
Your credit history is important, but it is not the only thing we look at.
We also look at affordability, income, and your current situation.
No. You must have a full UK driving licence before we can provide finance.
Yes. You can still apply if you have been refused elsewhere.
Different lenders use different rules and checks.
A refusal from one lender does not always mean another lender will make the same decision.
Any decision will still depend on your circumstances and whether the finance appears affordable.
Yes. No deposit car finance may be possible in some cases.
This will depend on your application, your budget, and the car you choose.
A deposit may lower the amount you need to borrow, but it is not always needed.
You must have fully comprehensive car insurance for the vehicle.
This is not included in the finance agreement.
You will need to arrange the insurance yourself.
If the right insurance is not in place, this would break the agreement.
