What are the Most Popular Japanese Car Brands

Japanese Lexus driving fast

From sushi to onsen hot springs and pastel-pink cherry blossoms, Japan is famous for all kinds of reasons. When it comes to automobiles, the country is a frontrunner. So, what are Japanese car brands known for and what makes them so well regarded around the world? Read on as we take a closer look at some of the most popular Japanese auto manufacturers and what they offer to motorists.

What are Japanese car brands known for?

Before we spotlight some of the most popular makes and models, let’s take a moment to unpack what are Japanese car brands known for.

Affordability

Japanese auto factories are highly efficient. This keeps prices down and makes Japanese models amazingly affordable, compared to many other brands.

Reliability

Japanese manufacturers continually dominate when it comes to reliability. High manufacturing standards and advanced quality control techniques help ensure every car that leaves the factory is built to last.

Technology

What are Japanese car brands celebrated for? Technology is one of the biggest draws. From powerful all-electric engines to next-generation driver assist features and infotainment systems, Japanese car brands are leading lights when it comes to technology.

Easy to maintain

Most Japanese cars are mass produced using readily available and easily replicated materials. This is good news for drivers as it makes it a cinch to find parts. Repair and replacement costs are low, which makes maintaining Japanese vehicles simple.

The most popular Japanese car brands

Now you know more about what Japanese car brands are known for, let’s take a closer look at some of the most popular makes and models.

Toyota

Based in the Aichi Prefecture on Honshu Island, Toyota is one of the most popular car manufacturers in the world. The Japanese auto giant sold almost 10.5 million vehicles around the world in 2022. This made it the world’s top-selling car manufacturer, topping German rival Volkswagen. The company ticks all the boxes when it comes to our list of what Japanese car brands are known for. Models are affordable, reliable and family friendly.

Model popularity varies between countries. For example, in North America, best-sellers include the Toyota Tacoma pickup truck, Toyota Highlander midsize SUV and the wildly popular Toyota Camry sedan. Drivers also love the RAV4, a capable and compact SUV that’s been winning over motorists since the 1990s.

British drivers love the Toyota Yaris, which is perfect for zipping around cities. The hatchback combines top-notch safety standards with smart technology, lots of style and a surprising amount of space. Hybrid technology also has a big role to play when it comes to the popularity of Japanese car brands. Hybrid models like the Yaris have been a huge hit with drivers who want to embrace electric but aren’t ready to commit to an EV. The new Aygo X compact crossover also helped boost Toyota sales in 2022.

Subaru

What are Japanese car brands known for? Speed, of course. When it comes to rally-inspired cars, no brand does it better than Subaru. The Impreza is a mainstay on the World Rally Champion stage, with legendary Scottish rally driver Colin McRae helping propel the model into the spotlight.

The practical Subaru Outback has been a firm favourite since it was first launched in 1994. Today it remains popular with British motorists in search of adventure. The AWD crossover is just as capable at cruising along urban streets as it is taking on rocky trails and mud-splattered fields. The Forester hybrid is tough-as-nails and combines a beefy petrol e-BOXER engine with self-charging electric battery power. And let’s not forget the all-new Subaru Solterra. It’s one of the company’s first all-electric models and offers an impressive range of up to 289 miles.

Nissan

Whether you use your Nissan to run errands in the city or whisk the family away on weekend road trips, this much-loved brand is hugely popular in the UK. The latest Nissan Qashqai compact crossover SUV boasts e-POWER technology. This clever feature offers the whisper-quiet and eco-friendly benefits of an all-electric motor, without the need to plug in and recharge.

A compact build and bold silhouette have made the Nissan Juke another darling in the UK. And of course, no list of Nissan favourites is complete without a nod to the Micra. Affordable and reliable, this pint-sized model sums up everything people love most about Japanese car brands.

Lexus

What are Japanese car brands famous for? While giants like Toyota and Subaru are renowned for their affordability and reliability, manufacturers like Lexus are all about luxury. The brand is owned by Toyota and strikes a perfect balance between reliability and luxury. Expect powerful engines, incredible craftsmanship and superlative attention to detail.

The all-new Lexus RZ 450e is the latest model to capture headlines. As the brand’s first battery-electric vehicle, the model sets a new benchmark for EVs. With a starting price of £62,600 it’s not cheap. But you absolutely get what you pay for.

Beyond the all-electric engine, expect a high-end cabin inspired by the traditional Japanese art of Omotenashi. The term is woven into the tapestry of Japanese culture and hospitality. It’s all about wholeheartedly anticipating the needs of guests and giving them the best possible experience. The Lexus RZ 450e does just this with features like an extra-large 14” touchscreen and incredible connectivity. Radiant heaters keep passengers cosy, while a glass panoramic roof with electronic dimming functionality allows you to customise your views and sunlight levels. This is Japanese luxury at its best.

Financing a Japanese car

Want to master the art of Omotenashi in your car? Whether you’re dreaming of a luxurious Lexus RZ 450e, an affordable Subaru or a family-friendly Toyota, use our car finance eligibility checker to get into the driver’s seat faster. 

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How to Find Car Finance for Young Drivers

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Getting your first car is a big deal. It’s freedom, independence and the ability to do what you want, when you want. Whether it’s driving to a part-time job, road-tripping to Alton Towers with your mates or just avoiding the endless faff of unreliable buses, having a car gives you flexibility and freedom.

But here’s the sticking point – cars are expensive. And most young motorists don’t have the money to buy one outright. That’s where car finance for young drivers comes in, allowing you to spread the cost over time and get on the road sooner.

That said, car finance can feel like a maze. Between credit checks, finance types, deposits and jargon, it’s easy to feel like the whole thing isn’t made with young drivers in mind.

We’re here to fix that. This guide will cover everything you need to know about cars on finance for young drivers in the UK. Yep, even with little credit history or part-time income. We’ll break down what lenders actually look for, how to choose the right car and finance type, and what steps will help you get approved. 

Can young drivers get car finance in the UK?

Yes! More young people are doing it every year. In fact, getting a car on finance for young drivers has become one of the most popular ways for under 25s to secure a first or second vehicle.

But there are a few things that make it trickier when you’re just starting out. Here’s what you need to know:

  • You must be 18 or older to apply for car finance in the UK.
  • If you have little or no credit history, lenders can’t easily judge how responsible you are with money.
  • Many young drivers are in part-time or gig work, which can make income harder to verify.
  • Lenders see new drivers as higher risk, since younger people are more likely to make insurance claims or miss repayments.

That doesn’t mean you’ll be turned down automatically. It just means lenders will look at your whole financial picture, not just your age. Plus, there are steps you can take to make yourself a stronger applicant and score the best car finance for young drivers.

What lenders look for in young driver applications

Lenders aren’t expecting you to have a glowing credit report and a £40k salary at 19. But they do want reassurance that you’re a safe bet. Here’s what they’ll be checking:

Age

You need to be 18 to legally enter into a credit agreement. Some lenders prefer applicants aged 21+, but many now offer flexible options for 18-20-year-olds, especially with a guarantor.

Employment and income

Most lenders want to see some kind of regular income, even if it’s from part-time work or self-employment. You don’t need a full-time office job (even shifts at Costa or Deliveroo earnings can help) but the more predictable your income is, the better.

Credit score

A good credit score shows you can manage money responsibly. But if you don’t have a score at all yet, don’t panic. Many young applicants are in the same boat. Lenders may just ask for a bit more info or suggest a guarantor.

Affordability

Lenders calculate whether the monthly repayments, plus your insurance and living costs, are realistic. Applying for a £15k car with a £400/month repayment when you earn £900/month won’t fly. £150/month for a £5k car? Much more doable.

The best types of car finance for young drivers

There’s no one-size-fits-all answer. The reality is that some plans suit young drivers better than others. Here’s a rundown of your options for car finance for young drivers:  

Hire purchase (HP)

HP is one of the most popular finance options for new drivers, because it’s simple and stable.

  • Pay a fixed amount each month
  • No mileage restrictions
  • You own the car at the end of the term

It’s easy to understand, budget-friendly and often more accessible for those with limited credit.

Example: You’re 19, working part-time and want to buy a £6,000 car. With HP, you might pay around £140/month over four years, and it’s yours once you’ve made the final payment.

Personal contract purchase (PCP)

PCP lets you lease the car for a fixed term with the option to:

  • Return it at the end
  • Pay a balloon payment to buy it
  • Trade it in for a new model

Monthly payments are lower than HP, but you won’t automatically own the car unless you make the final payment. PCP is great if you like the idea of upgrading every few years or want lower payments short-term. Just keep an eye on mileage limits and wear-and-tear terms.

Example: You finance a nearly-new Ford Fiesta for three years. You only pay for the depreciation, not the full cost, which keeps your payments low.

Personal loan

You can also take out a personal loan from your bank or another lender to buy the car outright.

  • You own the car from day one
  • Use the money wherever you like (including private sales)
  • Great for those with strong credit or parental co-signers

It’s not always ideal for first-timers, but if your credit’s decent or you have a guarantor, it can offer more flexibility.

Guarantor finance

This is when a parent or family member agrees to cover the loan if you can’t.

  • Can open up better deals and lower rates
  • Lenders see it as less risky
  • Everyone involved needs to understand the legal responsibility

Guarantor finance is a useful option for students or young people without a credit record. Just make sure both parties are 100% clear on the terms. 

Family support: help from the Bank of Mum and Dad

Let’s be real, getting on the road isn’t cheap. From buying the car itself to sorting insurance and ongoing running costs, it’s no surprise that many young drivers turn to family for help.

Research from the AA found that over a third of young drivers (26%) received some form of financial help toward purchasing a car, whether that was with the deposit, monthly finance payments or insurance costs. The top reasons? A reward for passing the driving test, a birthday gift, starting university or celebrating exam results. 

It’s nice to have help. But of course, lots of young drivers don’t benefit from that level of support. Around 66% of young motorists haven’t received any financial help from family. If you’re in that majority, don’t panic. You’re certainly not alone and there are still affordable ways to get behind the wheel, especially when you work with a broker like My Car Credit.

How to boost your chances of getting approved

There are lots of practical steps you can take to improve your odds, even with limited credit or income.

Use a broker

A broker like My Car Credit has access to dozens of lenders, not just one. This increases your chance of being matched with someone who understands young drivers and offers better rates.

Improve your credit

Start building your credit before you apply. The below steps can work wonders for your score:

  • Register to vote
  • Use a credit builder card and pay it off in full each month
  • Avoid missed payments on bills or subscriptions

Every little bit helps, especially over 6-12 months.

Get a guarantor

A parent or guardian can act as your financial safety net, which reassures lenders. It’s not always needed but it helps if you’re still living at home or just starting work.

Apply for what you can afford

Lenders love realism. Start with a modest, reliable car to show you’ve got your head screwed on. You can always upgrade later once your credit and income grow.

Pick the right car

Small, fuel-efficient, and low-insurance group cars are a good bet. Think:

  • Ford Fiesta
  • Renault Clio
  • Honda Jazz
  • Volkswagen Polo
  • Mini Cooper
  • Kia Picanto 

Avoid anything flashy, thirsty or expensive to fix. It’ll only bump up your repayments and insurance. Not to mention bring down your chances of approval. 

Choosing the right car for your finance application

The car you choose has a huge impact on your application. Here’s what matters:

Car value

Lower value = lower repayments = easier approval. Basically, lenders are more likely to offer car finance for young drivers if the value is modest. 

Insurance groups

Choosing a car in a low insurance group (models like the VW Up, Hyundai i10 and Toyota Aygo) can be a great way to win over lenders and boost your chances of approval. Looking for car finance for young drivers with insurance rates you’ll love? Check out our roundup of the 10 Cheapest Cars to Insure for Young Drivers. 

Consider used

Used or nearly new cars don’t just cost less. They hold their value better and can be just as reliable as showroom vehicles. Avoid write-offs or private sales. Lenders prefer trusted dealers like the ones you’ll find in My Car Search. 

Insurance and finance: why they go hand-in-hand

It’s easy to think of car insurance and car finance as separate things. Not true! They’re linked and lenders know it.

When reviewing your application, lenders consider:

  • Insurance costs as part of your monthly expenses
  • Your ability to afford both the loan and the insurance
  • How likely you are to make repayments long-term

Consider black box insurance

Looking for ways to save on car finance for young drivers with insurance? A black box (or telematics) policy tracks your driving and rewards you for being careful. It can lower your premium significantly and show lenders you’re a low-risk driver.

  • Ideal for under-25s
  • Proves you’re responsible
  • May positively influence lender decisions

Tips to improve your credit score as a young driver

Your credit score is like your financial reputation. The better it looks, the better your finance options. 

Here’s how to start building it, even as a student or first-time earner:

  • Get on the electoral roll – This proves your identity and address – a quick win if you want to boost your score.

 

  • Use a credit-builder card – Spend a little each month (like your Spotify or Netflix bill) and pay it off in full.

 

  • Avoid missed payments – Set up direct debits for your phone, utilities and subscriptions.

 

  • Keep credit utilisation low – If you have a £500 limit, try not to use more than £150-£200 at any one time.

 

  • Check your credit file regularly – Use tools like Experian, ClearScore or Credit Karma to spot errors or see progress.

Remember, building credit takes time. But starting now pays off when you’re ready to upgrade or apply for a mortgage down the line.

Don’t forget: young driver incentives

Some lenders, car brands and dealerships offer special deals on car finance for young drivers. These can include:

  • Cashback offers
  • Deposit contributions
  • Discounted servicing packages
  • Free insurance for a year
  • Student-specific deals (especially through unis)

Always ask what offers are available. You might be surprised by what’s out there! Every little saving helps when you’re just getting started.

Why use My Car Credit to find young driver car finance?

At My Car Credit, we’re here to make your first (or second) car finance experience smooth, safe and totally stress-free.

Here’s what makes us different:

  • Wide lending panel – We work with the UK’s biggest panel of lenders, including high-street banks and alternative options. More variety means more options for young drivers.  
  • Our soft credit check means zero impact on your score.
  • Quick, online application – No paperwork piles or long phone calls when you’re trying to cram for a uni exam. 
  • Expert support from real people who know how to finance cars for young drivers. We know our stuff and can also help with tips on car finance for young drivers with insurance. 
  • Transparent terms – What you see is what you get with My Car Credit. No sneaky fees or jargon. Just the best car finance for young drivers. 

It’s everything you need, minus the headache. Whether you’re a student in Sheffield, a new apprentice in Reading or have just scored a post-grad job in London, we’ve got your back.

Ready to get started? Use our car finance calculator to see what you could afford or apply online now.

FAQs

Can I get car finance at 18?

Yes! 18 is the legal minimum to get a car on finance for young drivers in the UK. Your options may be limited without income or a credit score, but a guarantor can help.

What’s the best car finance option for young drivers?

Looking for the best car finance for young drivers? Hire purchase is the most straightforward. PCP is good for flexibility and lower payments. Guarantor finance works well if you’re just starting out.

Can a student get car finance in the UK?

Yes, especially with a part-time job or a guarantor. Many lenders are happy to work with students as long as repayments are affordable.

Do young drivers need a guarantor?

Not always, but it helps if you’re under 21, don’t have credit history or aren’t earning much yet.

What credit score do I need for car finance?

There’s no fixed score, but the higher your score, the more options and lower rates you’ll get. You can still get finance with fair or limited credit.

Rates from 9.9% APR. Representative APR 10.9%

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I want to buy a car on finance, how much can I borrow?

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What to Do If You Can’t Pay Car Finance Because of COVID-19

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Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 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.

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How to Finance a Car in 4 Easy Steps

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Car finance is growing in popularity in the UK. In fact, the Finance & Leasing Association (FLA) recently announced that consumer car finance has increased by 39% from February 2021 to February 2022.

Why? Car finance is an affordable, accessible way of purchasing a new or nearly new vehicle. There are various kinds of car finance available, depending on the circumstances of the buyer, and many lenders will now work to provide car finance to those with a poor credit rating.

If you’re new to the car finance world, you may be wondering how to actually finance a car. This article is here to help you gauge what to look for when considering car finance, helping you to stay in the driving seat.

How to finance a car: 4 steps

Establish your priorities

There’s no ‘one size fits all’ approach – different kinds of car finance will suit different people differently! One of the best ways to work out which type of car finance would suit you is by asking yourself key questions.

Are you looking for a new or nearly-new vehicle? Would you prefer to own your car at the end of your car finance deal, or will you plan to sell it? What kind of credit score are you working with? Can you work with mileage and other usage caps?

Once you’ve got an idea of the answers, you’ll be better able to tailor your car finance search.

Ask yourself what you can afford

Remember, car finance can be made up of different kinds of payment, depending on which finance option you opt for (more on that later). You need to ascertain what you’re able to afford, so that you can choose a deal that suits you.

You may prefer higher monthly repayments and a shorter term or lower deposit, or favour things the other way around. If you want to purchase the car at the end of the finance term, you’ll need to factor in this one-off payment. Remember, if you opt for a finance term with mileage or other limits, you may face penalties if you exceed these.

Your credit score will play a significant role in the kind of car finance you can secure. Higher credit scores tend to result in lower interest rates and better deals, but plenty of car finance providers can still work with you if you have a poor credit score – just be sure to determine who these are from the beginnings of your search.

Decide which car finance is for you

There are different kinds of car finance – your perfect deal depends on your needs. The most common are car loans, personal contract purchase, hire purchase, and personal contract hire. All of them involve making affordable monthly repayments over a pre-determined period of time, alongside interest.

We’ve written plenty about the pros and cons of these different kinds of car finance elsewhere – just browse the hundreds of helpful blogs and articles that we’ve compiled – but a quick summary goes as follows:

  • Car loans are like a personal loan, making them more expensive and better for those with good credit scores, but you will own the car from the get-go.
  • Personal contract purchase is a flexible option and you can opt to purchase the car at the end of the finance term.
  • At the end of hire purchase, you’ll automatically own the car and you’re paying less interest, but your monthly repayments are higher.
  • Personal contract hire is essentially a long-term rental with mileage caps but lower monthly repayments.

Reach out to car finance providers

Now that you know what kind of car finance terms you’re looking for, you can reach out to car finance providers, many of whom will have an online application process to determine whether you’re suitable for car finance.

At My Car Credit, we make things easier by comparing deals across our large network of trusted lenders. You’ll get a no-obligation quote within minutes with simple, straightforward online applications. You just tell us about yourself and your priorities, and we’ll use our unique technology and stellar network with the best lenders to find the right car finance deal for your circumstances.

Car finance made easy

Don’t panic if you still have questions about how to finance a car – My Car Credit’s friendly team of specialist advisors are available to answer any questions that you may have.

We aim to take the stress out of the search, so get in touch today on 01246 458 810 or email enquiries@mycarcredit.co.uk.

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  • 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

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  • 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
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X monthly repayments of
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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) 10.87%, 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.
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Does Car Finance Affect Mortgage Applications?

Woman unloading car and moving into new house

If you have a car finance agreement in place and have also begun a mortgage application, your car finance may affect whether or not that application is approved, and what rates you may be offered.

This is particularly the case if you have missed any of your repayments for your car finance, as this will negatively impact your credit score, and will therefore impact your mortgage application. On the other hand, making all of your repayments can actually improve your chances of mortgage approval. Read on as we take a closer look.

Will car finance affect your mortgage?

When you apply for a mortgage, the lender will scrutinise your finances. Whether you have an active car finance deal, or a previous one that has been fully repaid, will impact their decision for your mortgage application. This is because car finance is a form of debt. As such, your mortgage providers will look to see how conscientious you’ve been in repaying your car finance.

Remember, if you have defaulted on your car finance, or missed any payments, then this will impact your credit history. This will in turn affect your mortgage application, as you will appear less financially responsible and therefore of higher risk to your speculative provider. Thankfully, there are still ways of securing car finance even with poor credit.

On the other hand, a history of timely repayments and problem-free car finance can actually improve your credit score. Put simply, it shows that you are capable of making regular repayments as agreed and staying within your budget – as is required with a mortgage.

The importance of credit history and scores

Your credit history is the common link between car finance and your mortgage. Understanding it is key to how car finance affects your mortgage.

Every adult in the UK has a credit file. This is used to make credit checks whenever you apply for financial products. That could be a mortgage, car finance or just a personal loan. Lenders can perform a soft credit check, which doesn’t stay on your credit file. Or credit checks can be ‘hard’, which leaves a mark and can affect your credit score over time.

Checks on your file can include an in-depth credit report, which looks at several different aspects of your credit file. Or it could just be a credit score or credit rating. Credit scores are a rough indication of your standing as a borrower. A poor credit score indicates some issues on your credit report. On the other hand, a good credit rating shows that you’re relatively low-risk to lenders.

Does car finance affect your credit score?

Here’s how credit history links to a car finance agreement or mortgage application:

  • Both car finance and mortgage lenders will want to check your credit score (and history) before approving your application.
  • Car finance payments and mortgage payments both impact your credit score over time.

How car finance affects affordability assessments

It’s not just your credit score that impacts your mortgage and car finance. Affordability checks are another key area for mortgage lenders and other finance companies.

What is affordability?

While your credit history indicates your track record of debt repayments in the past, affordability looks at the present and future. In other words, can you afford to make certain mortgage payments or car finance repayments now and over the course of your repayment term?

One aspect of this is your debt-to-income ratio. This assesses how much of your income goes towards debt. In other words, it shows how much disposable income you have left to spend on the likes of mortgage repayments and car finance repayments.

Above all else, affordability checks look at your financial circumstances. Are you a responsible borrower who can comfortably afford the loan repayments you’re agreeing to? This is a key part of the mortgage approval process for a mortgage broker or mortgage lender.

Does car finance affect affordability?

The short answer is yes, if you have an active car finance deal in place, this will affect mortgage applications because of the affordability assessments that your prospective provider will perform.

Any mortgage provider will scrutinise your finances before offering a mortgage – this is actually a legal requirement, and involves looking at your credit score, employment status, debt, and history of loan repayment. If you’re currently repaying any loan such as car finance, this will be factored into your mortgage affordability assessment.

As a general rule, the higher the debt remaining for you to pay back on your car, the lower you’ll be lent for a mortgage – though this may vary depending on the provider. The theory is that the more you have to repay on other loans or assets, like your car, the less you’ll have to put towards your mortgage.

As such, if you do have a way of clearing the balance on your car finance before applying for your mortgage, this would be a sensible course of action, as your car finance won’t impact the application to such a degree.

Minimising how much car finance affects your mortgage

To summarise, here’s a short list of ways you can ensure that car finance doesn’t negatively affect your mortgage:

  • Keep up with car finance payments to avoid late or missed payments that damage your credit rating. This will prevent you becoming a higher-risk borrower for mortgage lenders.
  • Make sure you can comfortably afford monthly repayments before committing to a car finance agreement. In doing so, you’ll keep a bit of wiggle room when it comes to mortgage affordability, rather than reaching your financial limits.
  • Pay off your car finance early if you need to improve your affordability to meet monthly mortgage payments. Getting rid of outstanding finance and existing debts means you have more disposable income going forward.

Car finance made easy

At My Car Credit, we pride ourselves on our customer service, and will work hard to find you a car finance deal that suits your needs and circumstances – so you can help rather than harm your credit score and any future mortgage applications. If you’re wondering how to make a car finance application work alongside a mortgage application, start by checking out our free Car Finance Calculator.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

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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) 10.87%, 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.
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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!

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