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08433 083 758

Bad Credit Car Finance

No Deposit

A decision in 30 seconds

Doesn't affect your credit rating

Check if you are eligible

It's very easy and takes no more than 30 seconds

Car finance calculator

Quickly see what your monthly payments would be on that new car

Find out more

Here's how it all works... in 3 easy steps

Apply online in 30 seconds

You are allocated a personal advisor

Choose your car and drive away

So, what next?

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Your Credit Rating

Poor Fair Good Excellent

Cash price of vehicle

Deposit

Over how long

Best Available Flat Rate : %

Total Repayment : £

Total Cost of Credit : £

Payments of :

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Representative example

Price£7,000
Amount to Finance£7,000
Term60 Months
Total Amount Payable£9,096.60
APR10.9%
DepositNil
Monthly Payment£144.96
Interest Payable£1,697.60
Fees£399
Flat Rate4.85%
 

How we approach bad credit

Mainstream lenders are often unwilling to lend to anyone with so much as a missed payment. So if you have bad credit, finding the funds to buy a car can be tough.


We look at things differently. Rather than dwelling on the past, we look at whether our car finance products are suitable based on your current circumstances. This aligns us with one of the Financial Conduct Authority's key principles – Treating Customers Fairly.


 

 

 

What is bad credit and how does it affect my car finance application?

‘Bad credit’ is a blanket term used to describe anyone who has failed to maintain one or more financial commitments. Although this is often the consequence of unemployment, sickness or unexpected bills/expenses, the result is one or more of the following markers appearing on your credit file:


Missed Payments - Whenever a payment is missed, lenders will record this on your credit file. Other lenders may then view you as an increased risk, assuming you’re likely to miss payments with them.


Defaults - A default is recorded on your credit file when you fail to meet your repayment obligations. It's usually only recorded after multiple payments have be missed, or several months have lapsed since the payment was due.


A default will remain on your credit file for six years and is almost certainly going to lead to a mainstream lender declining an application for credit.


CCJs (County Court Judgements) – A CCJ is an order from the court enabling the lender to commence doorstep debt collection. This is one of the most serious consequences of not sticking to a financial commitment.


Bankruptcy – This is the final stage in the life of a debt and can be instigated by either the debtor or the lender. Applying for car finance whilst bankrupt may be against the terms of your bankruptcy order, so it's important to seek legal advice beforehand.


 

 

Will applying to finance a car affect my credit rating?

Traditionally, lenders carry out a full credit check when you apply for finance – multiple checks can affect your credit rating.


We prefer to conduct what’s called a ‘soft search’, which won’t leave a footprint on your credit file. This lets us match you with the most suitable lender, without carrying out a full check. We can also provide a provisional decision within minutes.


 

 

 

Can I apply if I have been refused elsewhere?

Each lender has its own underwriting criteria, so a refusal by one lender doesn't necessarily mean refusal by all. It's about finding the most suitable lender, based on an assessment of your real-life circumstances. Here's our application criteria:


UK Resident – You must have been a UK resident for at least three years in order to apply for finance.


Over 18 years of age – UK law states that you must be at least 18 years old before entering into an agreement for car finance.


Earn £600+ a month after tax – Most lenders look for a minimum income of £600 a month. This can come from employment, self-employment, or benefits.


Not bankrupt – If you’ve completed your bankruptcy order we may be able to help. If your bankruptcy order is still in place, we'd suggest seeking financial advice before applying.

 

 

What if I am struggling to manage my finances?

If you’re struggling financially, adding car finance is likely to make things worse. The best thing to do is to regain control of your finances and consider alternatives, such as saving a little every month and buying a car outright, or even car sharing.


For professional financial help you can reach out to Money Advice Service, Step Change or Citizens Advice.


 

 

Why should I finance a car with Stoneacre?

Stoneacre has a multi award winning car finance team – We're proud of our innovative approach to assisting customers who’ve previously had financial problems.


This has been recognised independently, seeing us crowned double Finance and Insurance (F&I) Award winners in 2012, and receiving the highly coveted Treating Customers Fairly Award in 2014.


2 out of 3 applications are approved – We approve as many as two-out-of-three applications made via our website. Furthermore, the average turnaround time between us receiving an application and contacting you to complete the process is under 10 minutes.


Family-run for more than 20 years – Stoneacre is a family owned and run business. We’re registered in the UK, have full FCA permission to offer consumer credit services such as car finance, plus we’re Specialist Automotive Finance (SAF) approved.


 

 

For the purpose of this promotion Stoneacre is not acting as a lender but as an independent credit broker working with a panel of lenders. A list of these lenders is available upon request. Stoneacre do not charge a fee for an introduction to a finance provider, however, we may or may not receive a commission.

Decidebloom Ltd t/a Stoneacre, Omega Boulevard, Capitol Park, Thorne, DN8 5TX, is authorised and regulated by the Financial Conduct Authority. Our FCA number is 308726. You can verify this by visiting the FCA website or by contacting the FCA on 0854 606 9966.

Finance Q & A

A place to ask your burning finance questions

finance

Sasha McCormack is a Sales Manager at Stoneacre Motor Group

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