How To Get Car Finance with Bad Credit

My Car Credit recognise there could be a number of reasons why you may have experienced issues getting accepted for car finance in the past. Sometimes it may not be your fault. It could be that you’re self-employed and have no proof of your income. You may have never had credit in the past and therefore no credit history. You may have had small delays in paying your bills.


My Car Credit are here to look at these reasons and have the experience to help overcome them.


Due to our strong relationships with a large panel of car finance lenders who cater for all types of credit profiles, we are able to search the market for the most suitable, affordable car loans to suit your individual circumstances, even those with a bad credit profile.

  • Our experienced Car Credit Specialists are available to guide you through every step of your finance application. Rates offered will depend on your credit score.
  • Our aim is not to judge you, but to make sure we can secure you a car finance agreement you can afford and to provide you with great customer service.
  • You can apply for your car finance online by completing our online finance application form.The form takes no longer than two minutes to complete and we can issue an instant online decision.
  • You can also call a member of the My Car Credit team who will take your details over the phone and will also be able to issue an instant decision.
  • Once you have been approved with My Car Credit for your car on finance and have agreed an affordable finance agreement, you will be able to choose your car from any reputable UK dealer or buy with increased confidence from one of our 2000+ approved suppliers. We will transfer the funds to your car dealer the next working day.

No impact on your credit score

My Car Credit can offer help, guidance and advice with all car finance applications.

Below is a quick guide to credit profiles and how you can improve your credit rating.

Excellent Credit

You are a homeowner, you have been on the electoral role for a long period of time, you have current credit arrangements and a mortgage with no defaults, you have no CCJ’s, credit arrears or missed payments, you rarely apply for credit and you are employed or self-employed.

Good Credit

You are on the electoral role, you are a homeowner or a long standing tenant, you have stable employment history, you have current credit arrangements with occasional missed payments and you have no CCJ’s.

Fair Credit

You have recently been on the electoral role, you may have recently changed address, you may have occasional missed payments, you have an old CCJ and you may have regularly applied for credit

Poor Credit

You may have had frequent changes in your address, you may not be traceable on the voter’s role, you may have exceeded credit card limits, you may have missed payments on current agreements and you may have had a CCJ in the past.

Bad Credit

You may not be traceable on the voter’s role, your credit cards are over their limits, you have recent CCJ’S, you may have been refused credit elsewhere and you may be in a debt management plan.

Looking to apply for car finance online and would like to improve your credit profile?

How you can improve your Credit Rating

Rule number one when it comes to improving your credit rating is to show finance lenders that you can handle any credit you borrow.

Electoral Role

Ensure that you are registered on the electoral role at your current address. Finance Lenders use the Electoral role to identify you when you apply for credit.


Also make sure that all of your current finance agreements such as credit cards, mobile phone contracts, bank accounts and any other finance loans are registered to your current address.

Show you can handle credit

Finance lenders realise you may not have the best credit rating but they still want to see a history of you being able to handle money and make repayments on time. If lenders see a history of missed payments or bad debts it can indicate that you struggle to manage credit effectively.


Try and stay within agreed credit limits and make monthly repayments in full and on time. If you can, try and pay more than the minimum off any credit cards. Missed and late payments stay on your credit report for at least six years and can cause lenders to think you are a risk.

Cancel any out-of-date credit cards

Many people tend to switch credit cards regularly but can forget to cancel old finance agreements. The issue with this, is that these lines of credit will still appear on your credit file.


This can make the size of your debt appear bigger than it is and could result in finance lenders being wary of lending any more credit to you. It is better to have fewer, well-managed accounts and long-standing accounts with good histories.

Take note of the small print

Make sure that you look at all of the information your credit files holds for you. The information should be accurate and an up to date reflection of your current circumstances.


Lenders may not always notify credit agencies of changes in circumstances straightaway. If you do spot any out of date information you must request that the lender notifies credit agencies such as Experian and Equifax as soon as possible, you can also contact these agencies yourself.


You should also be vigilant of any fraudulent activity, look out for suspicious entries in your credit report such as an account you didn’t open or a sudden increase in the amount you owe and new credit applications you didn’t make.