Flexible Payments, Tailored Options, and More Opportunities – Explore Benefits-Friendly Car Finance Today!
Car finance on benefits is our way of helping those with less access to funds secure excellent car finance at low cost. We want every customer to drive away with their perfect vehicle and with ideal terms.
Car finance on benefits is a specialised loan option. It’s designed to help individuals claiming benefits (whether that’s Universal Credit, Disability Living Allowance, or something else) secure the vehicle they need.
This type of financing takes into consideration your very unique financial situation and offers flexible solutions that work with your income, even if derived from government support.
Unlike traditional loans, which often have heavy emphasis on credit rating, car finance on benefits takes a wider look at your ability to manage repayments. You could:
We pride ourselves on our commitment to opening up car ownership possibilities for those of all financial backgrounds—including those on benefits and with bad credit history. Car finance on benefits is a car finance model that matches you with lenders willing to offset credit history and limited economic circumstances with reasonable car loan terms.
We partner with trusted lenders who work hard to offer you exceptional car finance deal terms. That includes fixed monthly payments—ideal for those who need to focus on budgeting and need financial predictability. We’re here to make paying instalments as simple as possible.
We understand that not everyone can bring a good credit score to finance deal negotiations. We accommodate this by working with lenders who give out fair car loans even to those with limited credit history. They may simply ask for a larger deposit or higher monthly repayments instead.
Those on benefits may need extra assistance when it comes to securing a good car finance deal. We’re here to make that happen. We’ll match you with trusted lenders who can provide flexible monthly payments and loan terms that suit your needs.
Benefits car finance could restrict your choice of vehicle. If you want greater choice, consider Guarantor Car Finance instead. With Guarantor Car Finance, a friend or family member will guarantee your monthly repayments, meaning you could have more car options.
Lenders may make up for poorer credit history by offering a shorter loan term than normal. If you’d prefer to spread your payments out over a longer period of time—and potentially drive your monthly repayment amount down—consider other options like Guarantor Car Finance or Personal Contract Purchase. These options could give you greater flexibility.
Again, to secure their loan, lenders may give those with ‘bad’ credit higher interest rates. That’s normal, but may be a problem for those with lower incomes. If you can find a guarantor with a good credit score who’s willing to guarantee your payments, a Guarantor Loan could bypass this problem.
Here at CarFinanceToday, we offer several fantastic car finance models for people in every financial situation—bad credit included. Whether you’re eligible for each loan type depends on your credit rating, your income, and other factors.
Here are our top options:
Spread the cost of the car over a certain number of fixed monthly payments. APR depends on your credit score. However, HP has the benefit of:
PCP is similar to HP, only the vendor puts a large portion of the loan into an optional final balloon payment. The main advantage here is that you’ll have several options at the end of your loan term—you can either:
Securing a Guarantor Loan can be a great way to avoid some of the restrictions of car finance on benefits, such as higher APR and less choice of vehicle. That’s because your payments are guaranteed by a third party. So you could benefit from:
Budgeting is essential, especially for those taking on monthly repayments while on Universal Credit or other benefits. Use our free car finance calculator below to find out how much you could pay per month:
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We’ve made car finance simple. No more lengthy forms and weeks of waiting. Simply follow the steps below to get behind the wheel of your perfect car:
When you apply for car finance on benefits, we work alongside a panel of reputable lenders to secure an approval in principle that best suits your financial situation. This includes a soft credit check, which does not affect your credit score in any way. We appreciate everyone’s history is different regarding finance, and it is our objective to help you to find the best option available even if your credit score is less than perfect.
You need to be 18 years or over and also have at least three years’ address history in the United Kingdom to be eligible to apply for car finance on benefits.
Our application involves a soft credit check which does not affect your credit rating but enables us to identify the best possible in principle approval for your needs.
Though a perfect credit score isn’t the sole determining factor, other factors include benefits income, overall debt level, and financial stability. This makes sure that everyone gets a chance for approval and could be driving a car of their dreams.
At Car Finance Today, we want to make car ownership possible for everyone, and being on benefits shouldn’t hold anyone back in any way. Our tailored approach enables us to provide our customers with support and guidance throughout the car loan process regardless of any specific customer’s financial situation.
We firmly believe that no one should be denied reliable transportation due to any given reason regarding their finances, and so we work to make easy car loan options available and help our customers achieve the sort of mobile advantage that improves their lifestyle and, in turn, improves their finances.
Whether you need to get access to a car for essential errands, to go to work, or simply as a matter of convenience, we will find the best offers for you from our network of lenders. Even if your financial situation is complex, we are committed to finding the right deal for you.
If you come to us for your car finance, you are not just a customer. You will be assigned a named account manager who will guide you through every step of the finance process, making it clear, straightforward, and personalised to your needs.
Want to learn more about how car finance on benefits works?
You may face an extra cost per mile if you exceed the mileage limit that was agreed to.
Yes, you can, although there may be early termination fees, depending on the conditions of your agreement.
While it will help, our options are available to people with all types of financial backgrounds to ensure nobody is excluded.
Provided the car is kept to the agreed mileage and condition, you can bring it back without extra fees.
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