Yes you can. There are several fair and bad credit car finance lenders that specialise in benefit only finance. In order to obtain an approval, you need to pass their credit check and affordability assessment. Here are a few factors that might help you get a benefits only bad credit car finance approval.
The finance companies that offer bad credit car finance to customers on benefits are likely to require either benefit statements, or bank statements in order to prove your income.
Yes. Personal Independence Payment is an accepted benefit from the lenders that will consider bad credit benefit only car finance. Your total income must be over £1200 monthly/£280 weekly and you must have a full driving licence to apply.
If your income is under the threshold or you don’t have a full driving licence, you can apply jointly with someone at the same address.
Other benefits that are accepted by the fair and bad credit car finance lenders are:
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a month ago
Very fast & easy process , would highly Recommend
Cheryl Taylor
a month ago
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Coni Beattie
a month ago
Very polite,helpful & extremely patient with me asking all questions over the phone as I couldn’t get to view before I brought it. Will definitely be returning in the future. Thank you.
There is no minimum credit score to get accepted for bad credit car fincance. This is because the specialist bad credit car finance lenders all use their own credit scoring system. So, while your score might be low on Experian or Clearscore, your score may be high enough to obtain an approval from one of the bad credit lenders.
The only way to know if you can get approved, and what rate you would be approved for, is to apply for finance with a dealer or broker that specialises in benefits only bad credit car finance.
You can. There are only 2 finance companies that accept applicants that only receive Universal Credits so the approval chances are lower than that of customers that also receive other benefits. You will be asked to complete Open Banking by the finance companies to prove your income. Once you have been accepted and completed the open banking, you will be able to come in and get car finance on benefits.
As we use every car finance provider in the UK, we are able to provide a comprehensive list of all companies that will allow you to get approved for car finance on benefits.
Some of the above finance companies are only accessible through car finance brokers and some through dealers only, so it’s best to apply with a car dealer that uses a broker as well as dealing with the other lenders directly.
Yes you can. Although this depends on the circumstances and your income. If you are between jobs with no benefit income, then you will struggle to get approved for car finance. If you have no job and receive consistent benefit income over £1200 per month/£280 per week and have a full UK Driving Licence then you can apply for finance.
The only way to establish whether it would be possible to get approved for car finance for sure, is to apply for finance. Make sure you apply to someone that uses soft searches so there is no impact on your credit rating.
The finance companies we deal with will accept any benefit as long as you have proof of the income either via Open Banking, or via the annual or monthly benefit statement, these include:
To apply for Benefits Only Bad Credit Car Finance click below
Benefits Only Bad Credit Car Finance – How you can get car finance on benefits
Yes you can. It doesn’t matter where in the UK you live, your chance of getting approved for benefits only bad credit car finance is determined by your income and your recent credit history. The dealer specialising in benefits only bad credit car finance in Nottingham is Get A Better Car who have helped hundreds of benefits only customers to get car finance approved.
