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Poor Credit Car Finance

All circumstances considered, initial soft search to apply.

Rates from 9.9% APR.
Representative APR 10.9%

White audi purchased using car finance
Evolution Funding logo for car finance broker

Part of Evolution Funding, the UK’s largest motor finance and technology provider.

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.9%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

I Have Poor Credit; Will I Be Able to Get Car Finance?

Can I get car finance with poor credit history? This is something we hear a lot, so don’t despair! At My Car Credit, we understand that there can be lots of reasons for a poor credit profile. We combine a wide panel of trusted lenders with a sensible approach to selecting the right car finance lender for your circumstances. This means that we may be able to approve you for car finance where others haven’t been able to.

Your poor credit history could be the result of CCJs, mortgage defaults, IVAs or bills that have been paid late. It could be that you’re self-employed, with no proof of income, or that you simply haven’t built up a credit history yet.

Whatever the reason, we look at every case individually, without judgement – we aim to always find you the most suitable car loan at the best rate available from our panel of lenders*.

* Subject to status

Tips for Finding the Best Poor Credit Finance

You’ve no doubt heard all the tips about improving your credit score, but how about ways to find the best car finance with poor credit in the UK. Here are four tips:

  • Check your credit score beforehand – Checking your credit score for free means you can be up front and honest with lenders from the get-go. This reduces the risk of rejection further down the line when they see your credit history.
  • Be wary of hard searches – Hard credit checks can leave a mark on your credit file and actually worsen your credit score over time if you don’t obtain car finance. Look for lenders who use an initial soft search and only use hard credit checks at a later stage in your application.
  • Shop around with a broker – Shopping around is always good advice when making any purchase. A specialist car credit broker like My Car Credit can do this for you, comparing deals from a network of lenders to save you time and secure a suitable deal.
  • Save for a deposit – Car finance eliminates the need to save up for your next car for months and years. That said, saving a bigger deposit can demonstrate your commitment to paying for your next car and reduce the risk for lenders.

What Credit Score Do You Need for Poor Credit Car Finance?

Poor credit scores differ depending on the credit reference agency being used. With Experian, a poor credit score sits between 561-720, while Equifax rates anything from 439-530 as poor. A poor credit score with TransUnion is between 551-565.

Anything below these brackets is typically known as very poor. However, there is no minimum credit score required for car finance. It depends on other factors like affordability and each lender’s criteria.

A Quick and Hassle-Free Process

Get Approved

Complete our online car finance application form for an instant answer on car finance. It’s an initial soft search to apply.

Find a Car

You can find a car first or apply for car finance and then look for a car – we don’t mind! Choose from any reputable car dealer.

Sign & Collect

Sign your paperwork online, from the comfort of your home. We’ll transfer funds next working day, ready for you to collect your car!

Apply now

How it works

How Does Poor Credit Affect Car Finance?

Poor credit is simply a rating given based on your credit history. It indicates your reliability as a borrower, which lenders use to evaluate the risk involved in your application. They typically balance this out using a risk and reward strategy.

In other words, poor credit car finance usually comes with slightly higher interest rates compared to applications with an excellent or good credit rating. You may also find that fewer lenders are willing to finance your car, so a bit of extra work is required to find a suitable deal. As we’ve mentioned, a specialist broker can make this easier by shopping around on your behalf to save you the time and hassle.

Can I Get Car Finance With Poor Credit?

Yes, it’s absolutely possible to get car finance with poor credit. Lenders take lots of factors into account alongside your credit score and credit history. These include employment status, affordability and the repayment terms you’re after.

By comparing deals from different lenders, you’ll increase your chances of success. A car finance broker does this for you, negotiating with a panel of lenders to find those which are likely to accept your application.

Approachable Car Credit Specialists

When you apply for car finance with My Car Credit, you will be looked after by your own Car Credit Specialist. They are experienced in handling poor credit car finance and will hold your hand throughout the process, ensuring your experience is hassle-free. They can also provide advice and guidance on how to improve your poor credit profile.

You can also get a FREE credit report from Experian.

Our team are known for their approachability and professionalism – they have helped lots of poor credit customers secure car finance to buy the car of their dreams. You can read some of our customer feedback below.

A quick and hassle-free process

Red number one icon for get approved for poor credit car finance

Get approved

Complete our online car finance application form for an instant answer on car finance. It's an initial soft search to apply.

Yellow number two icon for find a car from any reputable dealer

Find a car

You can find a car first or apply for car finance and then look for a car – we don’t mind! Choose from any reputable car dealer.

Blue number three icon for sign and collect new car bought with poor credit car loan

Sign & Collect

Sign your paperwork online, from the comfort of your home. We’ll transfer funds next working day, ready for you to collect your car!

Colourful my car credit behind red Renault purchased using poor credit car loan

A quick and hassle-free process

Red number one icon for get approved for poor credit car finance

Get approved

Complete our online car finance application form for an instant answer on car finance. It's an initial soft search to apply.

Yellow number two icon for find a car from any reputable dealer

Find a car

You can find a car first or apply for car finance and then look for a car – we don’t mind! Choose from any reputable car dealer.

Blue number three icon for sign and collect new car bought with poor credit car loan

Sign & Collect

Sign your paperwork online, from the comfort of your home. We’ll transfer funds next working day, ready for you to collect your car!

Smiling poor credit car specialist on phone speaking to car finance customer

Approachable car credit specialists

When you apply for car finance with My Car Credit, you will be looked after by your own Car Credit Specialist. They are experienced in handling poor credit car finance and will hold your hand throughout the process, ensuring your experience is hassle-free. They can also provide advice and guidance on how to improve your poor credit profile.

You can also get a FREE credit report from Experian.

Our team are known for their approachability and professionalism – they have helped lots of poor credit customers secure car finance to buy the car of their dreams. You can read some of our customer feedback below.

After a difficult divorce and losing my job I thought my credit file would never allow me to rebuild my life. I first called My Car Credit and told them my journey. I was encouraged to apply and told I would receive an answer quickly... so I did, the next day I was arranging to collect my dream car... Audi Sports Convertible. Onwards and upwards, THANK YOU!
Nicky
17th Oct 2019
Looking for car finance with a not-so-perfect credit score was a daunting thought. Then I found My Car Credit. All I can say is what a simple and easy process the online application is, no pressure sales at all, very patient with my questions, excellent service, which is few and far between these days. Only took 4 days from my application to have the funds paid out to the dealership, now the owner of a nearly new car. I couldn’t be happier, and the interest rate was far better than anticipated.
Matt R
24th Aug 2018
The application process was really easy. Identifying our car was quick, especially as we knew what we wanted and then the purchase process was seamless! Our advisor was really helpful throughout the process and now we have a new car for a price that is affordable even with our poor credit.
Chris MT
27th Sep 2018
I had an amazing experience with this company. After being refused elsewhere and feeling down, this company was like a breath of fresh air. The customer service was second to none. Got everything done promptly with no hassle. Definitely recommend.
Shahida
28th Sep 2019
Much more efficient and friendly than the main name competitors and found me a 25% lower rate. They also let you get on with your day to day without constantly hounding and calling like other companies, but at the same time still communicate effectively.
Rhys T
27th Feb 2019
Great company to deal with. Agreed finance even though my credit score was low, not through bad credit but through little credit.
Claire M
11th July 2019

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!