Who Can Apply?

Who can apply for car finance?

Car finance can still be a mystery for those unfamiliar with it. From questions about the most common types of car finance and what affects your credit score to who can make a car finance application.

At Autozone/Car Credit Now, we believe in being transparent with our customers, which is why we provide a variety of car finance resources on our website.

We specialise in car finance for poor credit

If you have been refused car finance elsewhere, we may be able to help you get approved. The reasons why your finance application may have been refused in the past can be dependent on a variety of different factors and requirements of the lender.

So it is possible for you to get approval should you meet the requirements of a different lender even if you have a bad credit history.

What about if you have a low credit score?

Because we work with a variety of lenders, it's likely that we'll secure a lender for you who will accept your car finance application despite having a low credit score.

Can you still apply even if you've had an IVA or been bankrupt in the past?

In the event of being made bankrupt or declaring bankruptcy, you can still apply for car finance but you'll need to wait until a year has passed.

You can also still apply for car finance if you have or have had an IVA as it shows that you're now being responsible with your finances.

The Individual Voluntary Arrangement (IVA) is an agreement you make with creditors so that you can repay your debt in a more manageable way. Because of this, some lenders may reject your application. However, it is still worth applying as we will work to get you the best chance of being accepted.

Can you apply while claiming benefits?

One of the main things that you'll need to make a car finance application is a source of income. Lenders will need to see that you have the capability to keep up the repayments for the duration of the contract.

At Autozone/Car Credit Now, we accept benefits as a source of income and will be able to help you get accepted for a car finance agreement.

Will you be accepted even if you've struggled with your finances in the past?

Facing financial struggles like County Court Judgements (CCJ), arrears and defaults do make it harder to get future finance applications approved, as it shows the lender that you were unable to maintain payments in the past.

However, our expert advisors will be able to help you. They will take your situation into consideration and identify if you meet other criteria that can improve your eligibility for car finance.

Does it matter what driver's licence you use to apply for car finance?

It depends on the lender, but you don't necessarily need a full UK driver's licence to make a car finance application, however, it can be harder to get accepted.

At Autozone/Car Credit Now, we accept both provisional and EU driver's licences as part of the car finance application.

If your circumstance hasn't been highlighted here, you can still apply for car finance now with us and we will do our best to help you!