Bad Credit? No Problem!
Your Road to Car Finance Starts Here
At Motor Finance Today, we believe your past shouldn't define your future. If you have a less-than-perfect credit history, or even no credit history at all, the simple answer is YES! You can get car finance! We specialize in securing car finance for individuals with bad credit, even if you've been refused elsewhere.
Understanding Your Credit Score: It's Not Fixed!
Your credit score is a three-digit number that lenders use to assess your trustworthiness as a borrower. It's generated from your credit report history and other factors. The higher your score, the more likely you are to be accepted for credit.
Bad credit is defined differently by the UK's three main credit reference agencies:
The great news is that your credit score is not fixed and can be improved over time!
You are never stuck with bad credit forever.
Common Causes of Bad Credit & How We Help
A poor credit score can stem from various situations, and we understand them all
Missed Payments: Failing to make loan or credit card payments on time
County Court Judgments (CCJs): A court order for unpaid debt
Individual Voluntary Arrangements (IVAs): A formal agreement to repay debts over time
Bankruptcy: A legal process for dealing with debts you can't repay
No Credit History: If you've never borrowed money before, lenders have no payment history to assess risk
Whatever your circumstances, our team will work with you to get the best deal available and have you driving away with a new car with payments that suit your budget.
How Motor Finance Today Helps You Get Approved
We go beyond just your credit history
Our vast panel of over 20 leading lenders allows us to look at your current personal circumstances, including:
Soft Credit Check
Crucially, our initial eligibility check uses a 'soft credit check'. This means it will NOT affect your credit score until you decide to proceed with an agreement.
You can explore your options without worry!
Improving Your Credit Score with Car Finance
Getting car finance through Motor Finance Today can actually be a powerful step towards improving your credit score!
Make Payments on Time
Consistently making your monthly payments in full and on time is the most effective way to build a positive payment history.
Build Credit Mix
Having different types of credit (like car finance and a credit card) and managing them responsibly can positively influence your score.
Future Benefits
An improved credit score means more options, potentially higher borrowing levels, and lower interest rates on future loans and credit cards.
Actionable Tips to Boost Your Credit Score
Check Your Report
Regularly review your credit report for errors and dispute any inaccuracies
Reduce Debt
Aim to stay under your available credit limits and pay down existing debts
Electoral Roll
Ensure you are registered on the electoral roll
Limit New Applications
Keep new credit applications to a minimum
Consider a Co-signer
A co-signer with good credit can improve your chances of approval
Larger Down Payment
If possible, a larger deposit reduces the loan amount and shows commitment
Why Choose Motor Finance Today for Bad Credit?
Specialist lenders who understand your situation
Personalized approach to your unique circumstances
No impact on credit score with initial quote
Support for CCJs, IVAs, and bankruptcies
Help for those with no credit history
Self-employed friendly options
Do I Need Any Documentation?
As with any loan agreement, our panel of lenders will require a few documents to confirm your eligibility. These typically include:
Self-employed with bad credit?
We can still help! Our lenders are used to working with a range of circumstances, so your dream car is still very much an option.