Happy dog hanging out car window.Car finance, no matter your credit history

Getting used car finance with bad credit history

Car Finance: Is it possible?

People often think that if you have bad credit history that funding your new motor through car finance or a low rate interest loan will be near on impossible. The assumption is that even if you could eventually get approved for finance, the payments will be too much. But before you click past your dream car quickly and resign yourself to yet another year driving your old car, think twice.

Car finance isn’t just for those buying new cars. There are now more car finance lenders out there than ever before and increasing numbers offer finance for used cars! So its increasingly likely you will be able to find a finance option or loan to suit your monthly budget, while still getting you that much desired vehicle. However, there are a few careful considerations to bear in mind.

What to look out for when organising your car finance

The main question anyone wants to know when trying to finance a car is “how much will my monthly payments be?” This is your bottom line figure, and something you need to ensure you can afford on a monthly basis. Bear in mind unforeseen costs which might creep up on you later in the year – and make sure you can handle these alongside your monthly repayments. Missing a payment is bad news, and may further damage your credit rating.

Confused about car finance signpost

But your monthly payments aren’t the only concern. One of your main considerations, especially if your credit score is lower than you would  like, is the interest rate.

Interest rates can vary massively between lenders and will also vary depending on where you are looking to source your new car. All lenders have terms and conditions, which may include things like age or mileage of the car. Other considerations are the length of agreement and any hidden fees.

Where is the best place to get used car finance?

If you are looking at buying your next car from a car dealership, its always worth asking the dealer what finance they can offer you before looking elsewhere. At the end of the day, its within the dealers interest to get the best deal for you – in the hope of eventually selling you a car! Many customers assume that they need to have finance agreed before walking into a dealership, or only look to purchase a car privately because they don’t think they will be able to get financed.

At T W White & Sons, we work with a variety of different lenders  and offer car finance from a number of difference finance companies. Depending on your personal circumstance, we will work out the best deal we can sort for you, which is often at a much more preferable rate to what you will get off finance comparison websites. There are also several different car finance options available such as PCP and HP. Check out our finance guide for more information.

It never hurts to shop around, so be savy and check out your options! Use the APR representative rate to compare different loans and make sure you get a full illustrative example from any company offering you finance. You may find that the best option is to go for a loan of finance from your bank or another lender.


Find the best car deal for you!

T W White & Sons have a wide range of all new and used cars available across Surrey, London and Kent. Our used Manufacturer Approved vehicles all come with a comprehensive three years parts and labour warranty, backed by RAC, 12 month RAC breakdown cover and MOT test insurance, giving you total peace of mind.

Mazda Hyundai Suzuki

If you would like any information about our new or used car finance options, speak to a member of our sales teams today.

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