Part of Evolution Funding, the UK’s largest motor finance and technology provider.
Whether you’re commuting through the city or taking a road trip up to the North York Moors, cars are a must-have for many Hullensians. But unfortunately, money doesn’t grow on trees in Hull – or anywhere else in the UK, for that matter!
The rising cost of living has been matched by a rising cost of cars, which has made it more difficult than ever to buy outright. That is, unless you use car finance.
Spreading the cost of your car over several years makes it easier to manage the payments and provides some much-needed flexibility on the Humber Estuary.
My Car Credit takes the benefits of car finance and amplifies them. As a car finance broker, we make it easy to compare deals for lots of different lenders to find one that suits your needs. Everything is done online to keep it quick and easy, with soft credit checks initially to avoid any impact on your credit score.
How car finance works
Not familiar with the basics of car finance? It’s simple really. Rather than paying for your car in one lump sum – which most people just can’t afford – you let a finance company buy the car, then pay them back in affordable monthly instalments.
They’ll add on a little interest for the privilege – but that will all be outlined in a fixed quote at the start of the process. You’ll know exactly what you’re paying each month, so you can move towards car ownership bit by bit. Here are the main options:
Hire Purchase (HP)
Hire purchase is the simplest form of car finance. In short, the cost of the car and interest are spread evenly across your repayment term. At the end of the term, you’ll own the car as long as all payments have been made. It’s fixed and manageable with no surprises.
PCP Car Finance
Compared to HP, Personal Contract Purchase (PCP) has lower monthly payments which make it a popular option with many drivers in Hull. That’s because some of the cost of the car is deferred to a final balloon payment at the end of the term. Once the term is up, you can decide whether to make your balloon payment and own the car outright. Alternatively, you can return the car or upgrade it on a new PCP deal.
Bad credit car finance in Hull
What if you’ve got bad credit? That’s not as much of a barrier as you might think. Many lenders specialise in helping people rebuild credit through bad credit car finance in Hull. Getting approved for car finance can actually improve your score as you’ll be able to make regular payments which show your reliability.
With that in mind, many lenders look beyond your score and focus on affordability to see whether a deal is feasible. Make sure you choose a company that uses soft credit checks initially, like My Car Credit, as these won’t have any impact on your score. It will give lenders a better idea of your approval chances before starting the application, which minimises the risk of rejection.
Used car finance in Hull
Looking for a used car rather than one that’s never been driven? There are plenty of benefits to doing so. For starters, they’re more affordable. You’ll also enjoy slower depreciation as the majority of a car’s value is lost in those first months and years.
With My Car Credit, getting a used car on finance in Hull is even easier thanks to our network of trusted dealers. You can find a used car near you with an approved Hull dealer and get your car finance sorted – all in one place. Or pick a car further afield and arrange delivery online.
By applying online in minutes, you can get an idea of your budget before you start shopping. So, there’s no crushing disappointment getting your heart set on a car then finding out it’s a bit too dear!
Who can get car finance in Hull?
Getting car finance in Hull doesn’t have to be as hard as getting tickets to The Good Friday Derby!
Despite some common misconceptions, you don’t need a perfect credit score – and you can apply as long as you’re over 18 with regular income. This includes people with full-time or part-time jobs, first-time buyers, benefit claimants and those who are self-employed.
Getting finance when you’re self-employed
From ambitious freelancers and start-ups to experienced tradespeople, Hull has its fair share of self-employed drivers. Some lenders might be put off by the lack of regular income – even if you’re earning more than most full-time employees! Not with My Car Credit. We make it easy to compare deals from lenders that are open to self-employed applicants.
Using finance for your first car
First-time buyers often struggle to get car finance in Hull because they lack credit history. Much like bad credit applicants, they don’t have a track record of borrowing and timely repayments to go off. Thankfully, there are plenty of lenders willing to look past this and focus on affordability.
Getting finance without a deposit
Not got the money saved up for a down-payment on your car? Not a problem. My Car Credit’s trusted panel of lenders includes options for no-deposit Hull car finance. Your repayment will be a little higher as you’ll be paying the full cost of the car off – but you won’t need to pay anything up front to get your new wheels.
Applying for Hull car finance – step by step
If you’re ready to find the car finance in Hull that you need, all you have to do is follow these three steps:
Step 1: Apply online
Start by filling in our application form. We’ll perform a soft credit check to get things moving, which has no impact on your credit score.
Step 2: Review your offer
You’ll be matched to a lender based on your profile. Take a look at the offer and see if it fits your requirements.
Step 3: Choose your car & drive away
Happy with your quote? Use your pre-approved budget to shop with confidence, then get behind the wheel before you can say “Up the Tigers!”
Start your Hull car finance journey today
If you’re keen to put the key in the ignition, My Car Credit is ready and waiting. In a few clicks, you can get a no-obligation quote for car finance in Hull – and there’s no hard credit check to get started. Start your application online to move one step closer to a new or used car.
Why choose My Car Credit for Hull car finance?
If you’re looking for car finance in Hull, My Car Credit stands out from the rest. Here’s why…
We’re a car finance broker, not a dealer
My Car Credit isn’t a car dealer or standalone lender. Put simply, we’re on your side. Our goal is to find the right deal for your circumstances, comparing offers from lots of different lenders. That means there’s no pushy sales tactics, no upselling and no pressure.
Hull drivers of all credit backgrounds welcome
All applications start with a soft search, so there’s no mark left on your credit report initially. This check tells us how likely you are to be approved by our lenders, minimising the risk of rejection further down the line. There’s no judgement – just smart steps to protect your credit score.
Fast, transparent and online
Short on time? We get it. With My Car Credit, you can apply online in minutes. You’ll get an instant quote and there’s no paperwork. Your quote will outline all the costs clearly, so you can make an informed decision from the comfort of your home, workplace or wherever else you might be.
Localised support with national reach
Forget foreign call centres. Our Hull customers get friendly support from car credit specialists based right here in the UK. Whether you need help applying or you want something about your quote explaining, simply get in touch with our team.
Frequently asked questions
How does car finance in Hull work?
It’s simple. You break down the cost of a new car (plus interest) into manageable monthly payments. Choose Hire Purchase if you want to own the car outright or Personal Contract Purchase for more flexibility and lower monthly payments.
Can I get car finance in Hull with bad credit?
Yes, you can. We work with a panel of trusted lenders, including many that accept applications for bad credit car finance in Hull. It’s simply a case of assessing affordability rather than your credit score alone.
Is used car finance available in Hull?
It is – and it’s even easier with My Car Credit. Our network of trusted dealers allows you to find a reliable used motor in minutes.
Do I need a deposit to apply?
Not necessarily. While many lenders require a deposit of around 10%, some will let you pay off the full cost of the car over your repayment period. It just means you’ll be paying a little more each month.
How long does the process take?
With My Car Credit, you can go from application to approved in a few minutes. Everything is done online, making it quick, easy and accessible.
Start your Hull car finance journey today
If you’re keen to put the key in the ignition, My Car Credit is ready and waiting. In a few clicks, you can get a no-obligation quote for car finance in Hull – and there’s no hard credit check to get started. Start your application online to move one step closer to a new or used car.