Are you on the hunt for the right financing option to fund the purchase of a new or used car? If so, you might have come across the terms “car finance broker” and “car finance lender” in the past. It’s understandable that there could be some confusion around the differences between the two and why one is better than the other.

Simply put, car finance lenders are those responsible for lending you the money necessary to purchase the vehicle in question. After the agreement is signed, it’s to them you’ll owe money and to them you’ll make your repayments.

Car finance brokers, on the other hand, are more like middlemen who specialise in finding the very best deal for you. Normally endowed with an expansive network of contacts, they can trawl through the market to find a number of different products that meet your specific needs. Although they can help in finding car finance, they do not actually provide the finance themselves.

Why use a car finance broker?

So, if they are merely a ‘middleman’, why would you use a car finance broker? Well, it’s just like when you’d consult a mortgage broker or independent financial advisor when buying a house! A car finance broker can provide unique insight, expertise and connections that can make your life a whole lot easier. Here are some of the reasons why it makes good practical sense to enlist the services of a car finance broker:

Expand your options

Traditionally, most people would seek car finance from the same dealership where they found the car they wish to buy. This state of affairs, however, can often limit what products and rate you’ll be offered. This is because many dealerships only have relationships with one or two main lenders. If you have a less than perfect credit profile, you may find that the dealer cannot help you at all. Most car finance brokers – including My Car Credit – have access to a wide range of different lenders. This means they can expand your options and compare and contrast terms to find the best deal for you.

Preferential terms

Car finance brokers spend the entirety of their professional day dealing with the world of car finance. What’s more, they’ll have built upon relationships with a variety of lenders over time. The benefit to you is that they’re able to access preferential terms, discounts and arrangements that simply aren’t available to the man on the street. In conclusion, this can manifest itself in significant savings for you in the long run.

Insider knowledge

Again, the fact that a broker is intimately familiar with all aspects of the car finance industry means they instinctively know how your unique circumstances will affect your deal. That means they’re best placed to judge whether you’d benefit from a HP, PCP or personal loan. They’ll go to great efforts to search for the appropriate arrangement in the source most suited to your needs. What’s more, your application is usually only sent to those lenders most likely to accept you. This has the benefit of limiting the number of hard searches on your credit file.

Optimum deal 

All of those aforementioned reasons add up to one major advantage – a car finance broker will always find the best deal for their clients, every single time. With a vested interest in providing value to you, they will go the extra mile to find the deal that suits your situation. Not only does this produce the ideal outcome for you, but they can benefit from the word of mouth that a satisfied customer brings. Everyone wins.

Efficient and convenient

Aside from the plentiful financial benefits of using a car finance broker, there are also plenty of practical pros to consider. For one thing, delegating the legwork involved in tracking down and comparing all of the available deals will save you a substantial amount of time. What’s more, all of this can be achieved online or over the phone. This means you never even have to leave your home to source the finance you need.

Dedicated support

When it comes to a sizeable purchase of any kind, it’s always helpful to have someone in your corner who has extensive experience in the sector. At My Car Credit, we provide a car credit specialist to every case we undertake. You’re assured of someone on hand to answer any questions and allay any fears you might have, every step of the way. And because we charge the lender and not you, you won’t be left out of pocket for the pleasure.

No credit rating impact

You may decide to take matters into your own hands and contact individual lenders and dealerships separately. However, be aware that there’s no guarantee they won’t perform a hard search when verifying your credit history. You may find that you’re not approved for the finance. In addition, it could also leave a permanent record on your credit history and harm your score. Brokers, on the other hand, only ever perform soft searches until approval is assured.

All circumstances considered

Have you struggled with debt repayments in the past? Are you a young driver who hasn’t yet built up a robust credit profile? Or perhaps you’re self-employed? If any of these sound familiar, you might encounter difficulties in tracking down a car finance lender who will approve your application. While we can’t guarantee approval at My Car Credit, we can guarantee that we consider all circumstances fairly – and we’ll give you a decision within mere minutes.

Get in touch with a reputable broker today

What are you waiting for? Your dream car is just waiting for you to come and drive it away – and we can help make that happen. My Car Credit is a specialist car finance broker. Above all, we’re committed to finding the best deals and providing impeccable customer service for every client. When you search for car finance with us, you know you’re in safe hands.

If you want to start the ball rolling on your application, why don’t you give us a ring on 01246 458 810? Alternatively, you could drop us an email to Be assured, one of our friendly, experienced team will get back to you at our earliest convenience.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating


  • 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


  • 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


  • 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


  • 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


  • 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

Typical rate

Loan amount

Total payable




*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

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.

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!