Finance Help

If you're looking to buy a car but have bad credit, purchasing a car on HP car finance can be an accessible option. While Hire Purchase repayments are often more expensive than those of another finance options, such as car leasing, the benefits of buying a car on Hire Purchase mean that you will eventually own the car and, if you make your repayments in a timely manner, you can work to improve your credit score.

Yes, you can! If you've missed payments in the past, had a CCJ or entered an IVA, that doesn't mean you have to give up on getting car finance for good. We work with a panel of lenders, which means we can look to find finance deals for people with a variety of different circumstances including those with a CCJ, default or IVA. And for these lenders, it's not all about your credit score. They can take a range of factors into account to consider whether you could be eligible for car finance.

CCJ is short for County Court Judgement. In England, Wales, and Northern Ireland, a CCJ can be granted against you if you fail to repay a debt. The judgement will give you a deadline for repaying the loan and outline exactly how much you owe and how it'll be paid. And your CCJ will be kept on record - and could impact your credit score - for six years, even after you've paid off the original debt.

If you have a default, this means that you've missed - or defaulted - on payments in the past and have received a default notice that has been noted on your credit file. A default notice (sometimes called a notice of default) will typically be issued after missing payments for three to six months. Under the Consumer Credit Act 1974, the notice should explain which payments you've missed, the date you must clear the arrears by, and what will happen if you don't do this before that date. If you're unable to clear those payments in the time specified, your account will fall into default.

An IVA or Individual Voluntary Arrangement is an agreement that you make with your creditors to help you pay off your debts at an affordable rate. If you're currently in an IVA, it may be difficult to find car finance due to the conditions of your agreement. We might need further information from your creditors, and you should seek permission from your Insolvency Practitioner before you apply for us to help you find finance. However, if you have had an IVA in the past, this will stay on your credit file for up to six years but doesn't have to mean you won't be able to find finance.

The good news is that we work with a panel of lenders and some of them can help customers with a bad credit rating get car finance. And this includes people with CCJs, defaults and IVAs, subject to approval. Of course, everyone's circumstances are different and it's not all about your credit score so we'd need to take a look at your individual details to see if we can match you to one of our lenders.