How to buy a used car with bad credit

How to buy a used car with bad credit

If you’re currently looking at used cars but have bad credit, loans from the bank aren’t likely to be an option for you. However, if you’re searching for a used car on finance, you’re in the right place.

At Go Car Credit, we’re experienced in helping drivers purchase a car – even if they have poor credit. That’s because we know that having a less than ideal credit history isn’t the full story. We’ll talk to you about your current situation to find out how things are looking for you financially.

From there, we’ll consider your application. If accepted, you can take a look at what’s on offer at the dealerships in our UK network and pick from the selection of used cars within your budget. Even with bad credit, it’s possible to get the car you want when you choose us. To help you find out more about how to get a used car on finance with us, we’ve answered some of the key questions.

Does a bad credit rating mean I can’t get a used car on finance?

You can still get a used car with a poor credit history but it may be easier to be approved if you have a good score. Knowing your score is a great starting point before you apply for finance. As there are three main credit reference agencies – Equifax, Experian and TransUnion (formerly Callcredit) – and they all calculate your score in different ways and use different information, you won’t have one set credit score.

However, if you check your report from each agency, they are likely to be in the same range. Once you know what your score is and the information the agencies have for you, you can make sure it all looks right. Sometimes information can be missed. For example, you might have paid off a credit card, but this hasn’t been updated on your credit report.

For more information on what to do if your credit report is not correct please visit a If you’ve checked everything and you find you do have a poor rating, it’s still possible to look for a used motor and get car finance. Here at Go Car Credit, we look beyond your credit score so it’s still worth applying for finance with us.

How can I get a used car with a bad credit score?

A great way to get a used car when you have a bad credit score is to speak to us. We’re specialists in getting people on the road – even if their credit rating isn’t where they want it to be. After the initial approval for finance, we will talk to you about your income and outgoings and work out how much you can afford. Even if you’re on benefits we’ll still consider you, but it is dependent on what benefits you may receive.

From there, we’ll discuss the repayment plan options that could work for you so that it’s achievable. So, if you’re looking for a used car and need finance wherever you are in the UK, we could help. Better still, to give you an idea of the costs for finance for your used car, our car finance calculator will show you an illustration of how much repayments may be. This also displays a timetable, so you can see how long it will take to pay off.

I’m ready to get a used car. What type of car finance is hire purchase?

We can’t guarantee you’ll be accepted for car finance on your used car, but we are specialists in bad credit car finance and do offer hire purchase. This could be a good option that’s available to you. Hire purchase means that you buy your car without paying in full before you drive it.

You’re hiring the car from us and your purchase is secured against the car. Once you have made all the payments you then become the owner of the vehicle. So, until you pay off the agreed amount, the car is legally owned by Go Car Credit. You’re the registered keeper while you pay the monthly instalments over the payment schedule.

Once you’ve paid off the agreed amount for the car, which is the car’s value plus an mount of interest, the car is owned by you. This can be an accessible way to get a used car with bad credit history because we work with you to come up with a repayment schedule that works for you.

Plus, as you pay off the car, you can potentially improve your credit file and could make it easier to get finance or credit in the future. If you find that you can’t make the repayments for any reason, let us know as soon as possible.

We’ll then take the time to understand your situation and look to come to a solution. We can repossess the car, but this is a last resort and there are different options available before we get to that point.

Will Go Car Credit consider me for used car finance?

Wherever you are, whether you’re looking for a used car and need finance in Manchester or Glasgow, we’re on hand to help you get a car to suit your budget motor you want. We can’t guarantee you’ll be accepted for car finance with us, but we will discuss your application with you to see if we can approve you for finance.

We know that there are plenty of reasons why someone might have a less than ideal rating and we’ll get the full story from you first.

Do I have to pay more because I have a poor credit rating?

We treat every application individually because everyone’s circumstances are different. What you need to buy your used car on finance will be different to someone else’s, so the amount you pay and the length of time we’ll plan your payments for will depend on your own situation.

We have a team who will check through your application, considering your income and outgoings, as well as how affordable the car finance is. We’ll then draw up a personalised plan that suits you. Your repayment plan will also look at the used car you choose for finance. The car’s price, as well as how much insurance, fuel, road tax and MOT costs, will all affect how much you’ll need to pay.