UK Car Finance with My Car Credit

Rates from 9.9% APR.
Representative APR 10.9%

Evolution Funding logo for car finance broker

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

red mini bought using car loan in sheffield

Securing car finance in the UK can feel a bit like approaching a roundabout with no road signs – you’re not quite sure where to turn. 

 From high-street banks to specialist lenders for car finance with bad credit, UK choices are plenty. Finding the right one makes all the difference. Whether you use your car to zip around a major city like London or Birmingham or get from A to B in regions like the Lake District or the Cotswolds, a tailored finance plan makes sure you’re in the driver’s seat. Both literally and financially! 

At My Car Credit, we make the process easy, no matter where you call home. Here’s a closer look at how we help drivers across the UK hit the road with confidence.

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.

Car finance in the UK

Car finance in the UK isn’t one-size-fits-all. And for good reason. Policies are designed to meet a range of needs, including car finance for bad credit customers across the UK.

White audi purchased using car finance

Personal contract purchase (PCP)

The most popular car finance option in the UK. Around 55% of Brits financing a vehicle enjoy the lower monthly payments of PCP, plus flexibility at the end of the term. Return the car, trade it in or buy it outright. It’s your choice.

Hire purchase (HP)

Simple and easy. HP is a straightforward plan where you own the car after the final payment.

Personal contract hire (PCH) leasing

Ideal if you want to drive a new car every few years without committing to ownership. Comes with restrictions but if you want to drive the latest models PCH is peerless.

Finding the right match

Each option suits different lifestyles. For example, city drivers in London or Manchester may benefit from PCP, where lower payments free up money for other expenses. 

Rural motorists in areas like Northumberland or Cornwall might favour HP for its straightforward path-to-ownership model. 

Personal Contract Hire (PCH) plans often come with strict mileage limits. This can make them less practical for drivers with long daily commutes or people who live in the country.

The impact of local economic conditions

Regional economies play a significant role in shaping car finance options. In areas like London, where the cost of living is high, lenders may impose stricter terms to account for increased financial pressure. 

That said, some London lenders might recognise the long-term savings offered by electric vehicles (EVs). Congestion charges and ULEZ fees can add up quickly and as a result, they may be more lenient and open to lending higher amounts to help fund these pricier but more cost-efficient options. 

Rural regions with limited public transport often see more flexible finance plans, as owning a car is essential. For example, a driver in the Scottish Highlands might secure better terms on a reliable vehicle because it’s a necessity rather than a luxury.

How we support UK drivers looking for car finance

At My Car Credit, we simplify the finance process.

We’re a trusted broker with access to multiple lenders nationwide. We have the scope to match you with the right car finance plan, whether you’re a commuter in Birmingham or a farmer in Cumbria.

Benefits of working with a broker

Choosing My Car Credit offers:

How to find UK car finance

Why use a broker? Specialists can save you time and hassle by comparing quotes and handling paperwork. Brokers are especially useful if you’re struggling with poor credit. There’s no such thing as guaranteed car finance for bad credit in the UK. But working with a broker can certainly improve your chances.

What to compare

When reviewing car finance, focus on key factors:

  • APR (annual percentage rate): Shows the full cost of borrowing, including fees.
  • Loan terms: Shorter terms often mean higher monthly payments but lower overall costs.
  • Repayment amounts: Make sure monthly payments fit your budget, especially if you’re a UK applicant for car finance with bad credit.

Practical tips for securing finance

Securing car finance isn’t just about filling out an application and sending it off. With a bit of strategy, you can not only boost your chances of approval but secure the best possible terms. Here’s how: 

  • Save for a deposit – A bigger deposit reduces the loan amount and could improve approval chances.
  • Choose an affordable vehicle – Pick a car that suits your budget and needs. For example, an economical hatchback might suit a university student in Bristol, while a spacious MPV could be ideal for a family in Glasgow.
  • Know your driving habits – If you travel extensively, ensure your finance plan doesn’t penalise you for high mileage.
Colourful my car credit behind red Renault purchased using poor credit car loan

How does My Car Credit work?

We offer a nationwide service which means that from Central London to remote villages in Wales, we’re here to help. Our goal is to make car finance accessible to all, no matter your location or credit history. Our process is simple and hassle-free:

Get approved for car credit from My Car Credit

1. Apply online

Complete our quick form in minutes. Not sure where to start? Use our car finance calculator to estimate your monthly repayments.

my car credit adviser for car finance

2. Receive tailored offers from your Car Credit Specialist 

We match your profile with lenders offering suitable plans, including specialist UK lenders for car finance for bad credit.

Red car purchased using car finance from My Car Credit

3. Choose your car 

This is the fun part. Browse cars using our network of trusted dealers or find your own.

sign and collect for your new car bought with car finance

3. Get behind the wheel 

We take care of the paperwork. All you need to do is sign your documents and you’re good to collect your car!

my car credit adviser for car finance

Contact My Car Credit to explore UK car finance options

Ready to find the perfect car finance plan? Contacting My Car Credit is simple.

Visit our contact page for more details on how to email or call us. 

Fill out an online form to get your application started. We’ll follow up with quick and friendly assistance.

Speaking with our experts ensures you fully understand your options. Plus, our no-obligation quotes let you explore plans without pressure.

From the Scottish Highlands to the streets of Cardiff, our UK-wide service ensures you get the best deal. Whether you need guaranteed car finance for bad credit or guidance on flexible repayment terms, we’re here to help.