Looking for a Pay Weekly Car Finance No Credit Check Car Loan?

How to get approved for Pay Weekly Car Finance with Bad Credit

If you are paid weekly and looking for a car finance approval with bad credit then this is definitely a possibility. There are 15 specialist fair and bad credit car finance lenders in the UK at this time and several of those lenders offer pay weekly car finance. Getting approved for car finance is contingent on you having the affordability in the eyes of the finance company to be able to meet the weekly repayments of their car finance.

Can I get Pay Weekly Car Finance with No Credit Check?

This is not possible. All lenders are obliged to, and will want to perform a credit check on every person that applies for car finance so they can understand a few important factors:

What is your financial history? Have you demonstrated in the past that you can afford to pay any finance agreements you’ve taken out.
What is your current financial position? Are the finance agreements you already have up-to-date? The finance companies will want to see that they are lending money to you at a time where you can comfortably cover your existing financial commitments
Making sure you aren’t currently bankrupt and ineligible for finance, or making sure you’re not in a Voluntary Arrangement and will require permission from the IVA company to take out any new finance.

So, whilst Pay Weekly Car Finance isn’t possible without a credit check, there are still bad credit options available if your credit file and your income demonstrate some affordability.

Application

Your Details

Title *

First Name *

As it appears on your driving licence.

Last Name *

As it appears on your driving licence.

Email Address *

Mobile Number *

Date of Birth *

Month *

Year *

Marital Status *

Number of Children (Aged 16 and Below) *

How would you rate your credit? *

Where did you hear about us? *

Who recommended us? (They may be entitled to a gift if you buy a car from us)

Where did you hear about us? *

Which vehicle are you interested in? *

Which of our cars are you interested in?

Please give us as much detail as possible so we can tailor your approval.

What is your monthly payment budget?

Driving Licence *

If you don't have a full licence, you will need to apply jointly with a partner/parent living at the same address.

Employment Type *

If you are paid in cash, you will need to apply jointly with a partner living at the same address.

Add Joint Hirer *

Must be at the same address as you.

What is No Credit Check Car Finance?

This is simply a statement used to falsely advertise car finance with a guaranteed approval. Since no company in the UK can offer car finance without a credit check, it is just another way for finance companies, brokers, and car dealers to advertise for bad credit car finance.

How does Pay Weekly Car Finance work?

Pay weekly car finance is a car loan where the payments to the finance company are made weekly, instead of monthly. This would usually suit a customer that is paid weekly, or receives benefits on a weekly basis. The Annual Percentage Rate calculates the yearly amount of interest and fees that are related to a car finance agreement, if you are going to pay weekly, the annual capital plus interest/fees will be divided by 52 to generate your weekly payment.

For example, if you borrow £10,000 over 5 years @ 20% APR, the total repayable works out at £15,357.53 which is £3,071.51 per year.

£3,071.51 divided into 12 monthly payments is £255.96
£3,071.51 divided into 52 weekly payments is £59.07

Is it hard to get approved for Pay Weekly Car Finance with Bad Credit?

This mostly depends on how you have maintained your credit over the past 12 months, as well as your income to expenditure calculation. Every finance company will do their own affordability calculation which will take into account:

Your income (some finance companies will only take employment income while others will include benefit income)
Your fixed outgoings (most finance companies make assumptions of how much rent and bills you are likely to be paying based on where you live and your accommodation situation)
Your credit outgoings (a total of the fixed payments you need to make to continue paying all your active credit)
Your historic debt (an amount will be taken into consideration for any old defaults or CCJs you have)

If you are deemed to have enough ‘capacity’ to afford the payments, your credit file will then be looked at to see whether your recent credit history reflects your ability to afford a new car finance loan.

So, while it isn’t possible to get approved for pay weekly car finance with no credit check, it’s possible to get approved for pay weekly car finance with bad credit.

Need a Pay Weekly Car Finance No Credit Check Car Loan?

If you’ve read the article above, you will know it’s not possible to get a pay weekly car finance no credit check car loan, but there are still finance companies that offer pay weekly car finance with bad credit.

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