Check if you are eligible

We can provide finance to those with bad credit

It's easy, secure and you'll get a quick decision.

Get Approved

Car finance calculator

Bad credit car finance calculator

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

Let's get started
Affordable finance solutions with bad credit

No deposit required

An affordable solution

Get a quick decision

Quick application

Fast and easy process

Soft search finance

Check with confidence

Will not affect your credit rating

Bad credit car finance

Don’t let a bad credit score put you off applying for car finance. We understand that there are numerous reasons you might have bad credit, but we do our best to match you with a finance plan that suits your individual circumstances.

Getting a car on finance with bad credit may be tough at times. However, at Stoneacre we work with lenders who specialise in helping people with bad credit get finance for a car, making it that much easier to get accepted.

Our friendly, in-house team is on hand to discuss all of your options and will help find the best solution for you.

Check Eligibility

How we can help

At Stoneacre we don’t just take into account your credit score, we consider your current situation and how affordable car finance is for you. Therefore a bad credit history does not necessarily mean that you won’t get finance.

As well as working with specialist lenders, we have a quick-to-complete online form that puts your details through a ‘soft search’ and not a full credit check. This allows us to check your eligibility for finance without it negatively affecting your credit score and harming your credit profile further.

After completing the form, you will receive an initial indication of how eligible you are for car finance. Regardless of this result however, we will always follow up with you to discuss your application.

Signs of bad credit

There are many factors that can put you in a position of bad credit. If you’re wondering if you might fall into the bad credit category, below are some of the common causes of a suffering credit profile.

Missed Payments – Whenever you miss a payment it is recorded on your credit file. Lenders are able to see this and may consider you to be a greater risk. This may narrow the lenders who will lend to you or may increase the interest rate they are willing to lend at.

Default – A default is recorded on your credit file when you fail to meet your repayment obligations. A default is usually only recorded after multiple payments have been missed or several months have passed since the payment was due.

Defaults remain on your credit file for six years and in most cases will lead to mainstream lenders declining a credit application; however, specialist lenders may still be able to help.

Inability to pay your debts over a period of time can result in:

County Court Judgements (CCJs) – A CCJ is a court order that enables a lender to start doorstop debt collection. Whilst a CCJ is one of the most serious consequences of missing a financial commitment it should not stop you applying for car credit. At Stoneacre we are able to consider applications for car finance if your CCJ is over 4 weeks old.

Individual Voluntary Arrangements (IVAs) – An IVA is a formal agreement between you and the lender to pay back an affordable amount of the debt over a period of time (usually five or six years). At the end of this period any outstanding debt is written off.

The good news is that if you have previously had an IVA we can still consider you for car finance. Furthermore, whilst it’s more difficult, we can even consider you if you’re still within an IVA, as long as your insolvency practitioner gives written confirmation that you can apply for finance.

Bankruptcy – The final stage of debt is bankruptcy and can be instigated by you or the lender. Applying for car credit whilst bankrupt is not impossible but poses the most difficult challenge. Applying for finance may also be against the terms of your bankruptcy so we recommend seeking legal advice first.

However if you’ve been discharged from bankruptcy for over 12 months we would be happy to consider you for finance.

Understanding your credit score

Even if you have bad credit, some car finance providers will be more forthcoming to applicants whose credit rating shows signs of improvement. So giving yourself time to recover from any past mistakes can make all the difference when applying for car finance with a bad credit history.

Factors that impact your credit score

Positively:

    - Check your report regularly, mistakes can appear. Fixing this will improve your score

    - Are you on the Electoral Roll? This helps

Negatively:

    - Moving home/job regularly will reduce your score

    - Pay day loans

    - Falling behind on payments

    - Missing payments

    - Never had credit

Why get finance with Stoneacre?

At Stoneacre, we offer an innovative and empathetic approach to car finance and will try to find a solution that delivers our customers’ requirements within their budget.

Our in-house team has won multiple awards, including Finance & Insurance Awards for Industry Leading Training and also Dealer of the Year.

Our approval rate is strong, with two-out-of-three finance applications approved. The versatility of our lending panel, which includes lenders who specialise in providing car finance for people with a bad credit history, means we maintain this high approval rate.

Our average turnaround time between us receiving an application and contacting you to complete the process is under 10 minutes, meaning you won’t be left hanging around to find out whether your application has been successful.

We are a family-run business with over 20 years’ experience within the industry. 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.

Typical APR of 31.6%

Check Eligibility

Finance Disclosure

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 0800 111 6768.

Please note we record all our calls to ensure that we give you the service you deserve.

Loading